Open Lending Co. (NASDAQ:LPRO) Receives $7.07 Consensus PT from Analysts

Shares of Open Lending Co. (NASDAQ:LPRO) have received a consensus rating of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $7.07.

A number of brokerages recently weighed in on LPRO. Canaccord Genuity Group decreased their price objective on Open Lending from $7.50 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, March 26th. JMP Securities restated a “market outperform” rating and set a $8.00 price objective on shares of Open Lending in a research note on Tuesday, March 26th. Morgan Stanley upgraded Open Lending from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $4.00 to $7.00 in a research note on Tuesday, February 6th. Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of Open Lending in a research note on Wednesday, February 28th. Finally, Raymond James restated an “outperform” rating and set a $8.00 price objective on shares of Open Lending in a research note on Tuesday, March 26th.

Open Lending Price Performance

Shares of LPRO stock opened at $4.66 on Monday. Open Lending has a twelve month low of $4.57 and a twelve month high of $11.99. The stock has a market capitalization of $553.98 million, a price-to-earnings ratio of 27.41 and a beta of 0.99. The stock has a fifty day simple moving average of $6.65 and a two-hundred day simple moving average of $6.88. The company has a current ratio of 14.08, a quick ratio of 14.08 and a debt-to-equity ratio of 0.68.

Open Lending (NASDAQ:LPRO) last issued its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share 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%. Open Lending’s quarterly revenue was down 44.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) earnings per share. On average, analysts predict that Open Lending will post 0.28 EPS for the current fiscal year.

Insider Activity at Open Lending

In related news, Director John Joseph Flynn sold 50,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $7.25, for a total transaction of $362,500.00. Following the transaction, the director now directly owns 2,079,666 shares of the company’s stock, valued at approximately $15,077,578.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 150,000 shares of company stock valued at $1,110,000 in the last ninety days. Corporate insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LPRO. Price T Rowe Associates Inc. MD increased its holdings in shares of Open Lending by 55.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 6,399,688 shares of the company’s stock valued at $65,469,000 after purchasing an additional 2,277,806 shares during the period. Cannell Capital LLC acquired a new position in shares of Open Lending in the first quarter valued at about $17,951,000. Norges Bank acquired a new position in shares of Open Lending in the fourth quarter valued at about $6,095,000. Vanguard Group Inc. increased its holdings in shares of Open Lending by 9.3% in the first quarter. Vanguard Group Inc. now owns 9,887,343 shares of the company’s stock valued at $186,970,000 after purchasing an additional 838,752 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Open Lending by 11.9% in the third quarter. BlackRock Inc. now owns 7,609,797 shares of the company’s stock valued at $61,182,000 after purchasing an additional 807,200 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

Open Lending Company Profile

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.