Open Lending Co. (NASDAQ:LPRO) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Open Lending Co. (NASDAQ:LPRO) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $4.44.

A number of analysts have recently weighed in on the stock. Citizens Jmp initiated coverage on shares of Open Lending in a research note on Friday, April 4th. They issued a “market perform” rating on the stock. Jefferies Financial Group downgraded shares of Open Lending from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $8.00 to $3.70 in a research report on Thursday, March 20th. Needham & Company LLC upped their target price on Open Lending from $2.00 to $2.50 and gave the stock a “buy” rating in a research note on Friday, May 9th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $4.00 price target on shares of Open Lending in a research note on Wednesday, April 16th.

Insider Activity

In other news, CEO Jessica E. Buss purchased 12,975 shares of the stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $1.93 per share, with a total value of $25,041.75. Following the transaction, the chief executive officer now owns 46,446 shares in the company, valued at $89,640.78. The trade was a 38.76% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.20% of the company’s stock.

Institutional Trading of Open Lending

Hedge funds and other institutional investors have recently made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Open Lending in the 4th quarter valued at $25,000. Quantbot Technologies LP purchased a new position in Open Lending in the fourth quarter valued at $54,000. Summit Securities Group LLC acquired a new position in shares of Open Lending during the first quarter worth about $32,000. Ameriprise Financial Inc. acquired a new position in Open Lending during the 4th quarter worth approximately $80,000. Finally, BNP Paribas Financial Markets purchased a new position in Open Lending in the fourth quarter valued at $87,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Price Performance

Shares of LPRO opened at $2.07 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. The company’s fifty day moving average price is $1.47 and its 200-day moving average price is $3.91. The firm has a market capitalization of $247.95 million, a PE ratio of 69.00 and a beta of 1.94. Open Lending has a 1-year low of $0.70 and a 1-year high of $6.92.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Open Lending had a net margin of 4.78% and a return on equity of 2.15%. The company had revenue of $24.39 million for the quarter, compared to the consensus estimate of $24.78 million. On average, equities research analysts predict that Open Lending will post 0.1 EPS for the current year.

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.