Open Lending (NASDAQ:LPRO) Receives “Outperform” Rating from Raymond James

Raymond James reissued their outperform rating on shares of Open Lending (NASDAQ:LPRO) in a research report released on Tuesday, Benzinga reports. Raymond James currently has a $8.00 target price on the stock.

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

Open Lending Stock Performance

NASDAQ:LPRO opened at $6.26 on Tuesday. The firm’s fifty day moving average price is $7.29 and its 200 day moving average price is $7.11. Open Lending has a 1-year low of $4.89 and a 1-year high of $11.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.08 and a quick ratio of 14.08. The firm has a market cap of $744.19 million, a price-to-earnings ratio of 36.82 and a beta of 1.01.

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

Insider Transactions at Open Lending

In other news, Director John Joseph Flynn sold 50,000 shares of Open Lending stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $7.35, for a total transaction of $367,500.00. Following the completion of the transaction, the director now owns 1,993,762 shares of the company’s stock, valued at approximately $14,654,150.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 200,000 shares of company stock valued at $1,501,500 in the last 90 days. 18.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in Open Lending in the 1st quarter valued at about $41,000. Quarry LP acquired a new position in Open Lending in the 2nd quarter valued at about $29,000. PNC Financial Services Group Inc. raised its stake in Open Lending by 51.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,665 shares of the company’s stock valued at $89,000 after purchasing an additional 1,591 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in Open Lending in the 2nd quarter valued at about $108,000. Finally, Tower Research Capital LLC TRC raised its stake in Open Lending by 58.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 10,599 shares of the company’s stock valued at $85,000 after purchasing an additional 3,923 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

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.