Open Lending (NASDAQ:LPRO) Rating Reiterated by Raymond James

Raymond James reaffirmed their outperform rating on shares of Open Lending (NASDAQ:LPRO) in a research report sent to investors on Tuesday morning, Benzinga reports. Raymond James currently has a $8.00 price objective on the stock.

LPRO has been the topic of a number of other reports. Needham & Company LLC reaffirmed a buy rating and set a $8.00 price objective on shares of Open Lending in a research report on Wednesday, February 28th. JMP Securities reaffirmed a market outperform rating and set a $8.00 price objective on shares of Open Lending in a research report on Tuesday. Morgan Stanley raised Open Lending from an underweight rating to an equal weight rating and lifted their price objective for the company from $4.00 to $7.00 in a research report on Tuesday, February 6th. Finally, Canaccord Genuity Group lowered their price objective on Open Lending from $7.50 to $7.00 and set a hold rating on the stock in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $7.07.

Open Lending Trading Up 1.1 %

Shares of NASDAQ:LPRO opened at $6.26 on Tuesday. The stock has a market capitalization of $744.19 million, a price-to-earnings ratio of 36.82 and a beta of 1.01. The company has a debt-to-equity ratio of 0.68, a quick ratio of 14.08 and a current ratio of 14.08. The stock’s 50-day simple moving average is $7.29 and its two-hundred day simple moving average is $7.11. Open Lending has a 52-week low of $4.89 and a 52-week high of $11.99.

Open Lending (NASDAQ:LPRO) last announced its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $14.90 million during the quarter, compared to analysts’ expectations of $27.55 million. Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The company’s revenue for the quarter was down 44.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) earnings per share. Analysts expect that Open Lending will post 0.28 EPS for the current year.

Insiders Place Their Bets

In other Open Lending news, Director John Joseph Flynn sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $7.35, for a total value of $367,500.00. Following the completion of the transaction, the director now directly owns 1,993,762 shares in the company, valued at approximately $14,654,150.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 200,000 shares of company stock worth $1,501,500 in the last three months. 18.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new position in shares of Open Lending during the 1st quarter valued at approximately $41,000. Quarry LP bought a new position in shares of Open Lending during the 2nd quarter valued at approximately $29,000. PNC Financial Services Group Inc. boosted its position in shares of Open Lending by 51.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,665 shares of the company’s stock valued at $89,000 after acquiring an additional 1,591 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new position in shares of Open Lending during the 2nd quarter valued at approximately $108,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Open Lending by 58.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,599 shares of the company’s stock valued at $85,000 after acquiring an additional 3,923 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.

About Open Lending

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, finance companies, and captive finance companies of automakers in the United States. The company offers Lenders Protection Program (LPP), which is a cloud-based automotive lending platform that provides loan analytics solutions and automated issuance of credit default insurance with third-party insurance providers.