Brokerages Set Open Lending Corporation (NASDAQ:LPRO) PT at $2.92

Shares of Open Lending Corporation (NASDAQ:LPRO) have been assigned an average recommendation of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $2.9167.

LPRO has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Open Lending in a research report on Wednesday, October 8th. Citigroup reiterated a “market perform” rating on shares of Open Lending in a research report on Wednesday, November 12th. DA Davidson reissued a “buy” rating and issued a $4.00 price target on shares of Open Lending in a research note on Tuesday, November 11th. Finally, Canaccord Genuity Group dropped their price objective on shares of Open Lending from $7.00 to $2.00 and set a “hold” rating for the company in a research note on Thursday, November 13th.

Open Lending Trading Up 3.1%

NASDAQ:LPRO opened at $1.67 on Friday. Open Lending has a 12-month low of $0.70 and a 12-month high of $6.73. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 1.74. The stock’s 50 day simple moving average is $1.73 and its 200-day simple moving average is $2.03. The firm has a market cap of $197.38 million, a P/E ratio of -1.34 and a beta of 2.04.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $24.17 million during the quarter, compared to analysts’ expectations of $22.15 million. Equities analysts anticipate that Open Lending will post 0.1 EPS for the current year.

Insiders Place Their Bets

In related news, insider Matthew Sather purchased 40,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $1.52 per share, with a total value of $60,800.00. Following the completion of the purchase, the insider directly owned 44,363 shares in the company, valued at approximately $67,431.76. This trade represents a 916.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 13.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Open Lending

Institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Open Lending by 9.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,901,127 shares of the company’s stock valued at $38,368,000 after acquiring an additional 1,245,763 shares during the last quarter. Wasatch Advisors LP lifted its stake in shares of Open Lending by 3.6% in the 3rd quarter. Wasatch Advisors LP now owns 6,406,790 shares of the company’s stock valued at $13,518,000 after purchasing an additional 224,183 shares in the last quarter. Palogic Value Management L.P. lifted its stake in shares of Open Lending by 440.0% in the 2nd quarter. Palogic Value Management L.P. now owns 5,900,000 shares of the company’s stock valued at $11,446,000 after purchasing an additional 4,807,323 shares in the last quarter. LB Partners LLC purchased a new stake in shares of Open Lending during the 2nd quarter worth about $9,799,000. Finally, Portolan Capital Management LLC acquired a new stake in Open Lending during the 3rd quarter worth approximately $7,752,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

About Open Lending

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.