Open Lending Corporation (NASDAQ:LPRO) Receives $4.12 Average Target Price from Brokerages

Shares of Open Lending Corporation (NASDAQ:LPRO) have been given an average recommendation of “Hold” by the seven research firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $4.12.

Several brokerages recently commented on LPRO. Stephens initiated coverage on Open Lending in a report on Thursday, June 12th. They set an “equal weight” rating and a $2.50 target price on the stock. Citizens Jmp started coverage on shares of Open Lending in a research report on Friday, April 4th. They issued a “market perform” rating for the company. DA Davidson reissued a “buy” rating and set a $4.00 target price on shares of Open Lending in a research report on Wednesday, April 16th. Finally, Needham & Company LLC upped their target price on shares of Open Lending from $2.00 to $2.50 and gave the company a “buy” rating in a research note on Friday, May 9th.

Open Lending Stock Up 2.3%

Shares of Open Lending stock opened at $2.64 on Wednesday. Open Lending has a twelve month low of $0.70 and a twelve month high of $6.92. The stock has a market cap of $316.22 million, a price-to-earnings ratio of -2.26 and a beta of 1.93. The company has a current ratio of 6.21, a quick ratio of 6.21 and a debt-to-equity ratio of 1.63. The company has a fifty day moving average price of $2.15 and a 200 day moving average price of $3.03.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $24.39 million for the quarter, compared to analyst estimates of $24.78 million. Equities research analysts forecast that Open Lending will post 0.1 earnings per share for the current fiscal year.

Insider Transactions at Open Lending

In other Open Lending news, CEO Jessica E. Buss bought 12,975 shares of the business’s stock in a transaction on Monday, May 12th. The shares were bought at an average cost of $1.93 per share, with a total value of $25,041.75. Following the transaction, the chief executive officer directly owned 46,446 shares in the company, valued at approximately $89,640.78. This trade represents a 38.76% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 15.00% of the stock is owned by corporate insiders.

Institutional Trading of Open Lending

A number of hedge funds have recently made changes to their positions in LPRO. CWM LLC raised its holdings in Open Lending by 3,079.8% in the second quarter. CWM LLC now owns 94,822 shares of the company’s stock valued at $184,000 after acquiring an additional 91,840 shares in the last quarter. Blair William & Co. IL bought a new stake in shares of Open Lending in the 2nd quarter worth about $39,000. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in shares of Open Lending in the 2nd quarter valued at about $113,000. Truist Financial Corp bought a new position in shares of Open Lending during the second quarter worth about $194,000. Finally, Ballentine Partners LLC bought a new position in shares of Open Lending during the second quarter worth about $40,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

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.