Open Lending (NASDAQ:LPRO) Insider Matthew Sather Purchases 40,000 Shares

Open Lending Corporation (NASDAQ:LPRO) insider Matthew Sather acquired 40,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were bought at an average cost of $1.52 per share, for a total transaction of $60,800.00. Following the acquisition, the insider owned 44,363 shares in the company, valued at $67,431.76. The trade was a 916.80% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Open Lending Stock Performance

LPRO traded up $0.12 on Friday, hitting $1.65. The company had a trading volume of 673,188 shares, compared to its average volume of 1,398,636. The company’s fifty day moving average price is $1.92 and its 200 day moving average price is $2.05. Open Lending Corporation has a 1-year low of $0.70 and a 1-year high of $6.75. The company has a debt-to-equity ratio of 1.74, a current ratio of 5.59 and a quick ratio of 5.59. The stock has a market cap of $195.01 million, a price-to-earnings ratio of -1.32 and a beta of 1.97.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $24.17 million for the quarter, compared to analyst estimates of $22.15 million. Equities analysts predict that Open Lending Corporation will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of Open Lending

A number of institutional investors and hedge funds have recently modified their holdings of LPRO. R Squared Ltd acquired a new position in shares of Open Lending in the 2nd quarter valued at $28,000. Prudential Financial Inc. acquired a new position in Open Lending in the second quarter worth about $28,000. Brighton Jones LLC acquired a new position in Open Lending in the second quarter worth about $30,000. Summit Securities Group LLC bought a new position in Open Lending during the first quarter worth about $32,000. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in Open Lending during the second quarter valued at approximately $32,000. 78.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Canaccord Genuity Group dropped their target price on shares of Open Lending from $7.00 to $2.00 and set a “hold” rating on the stock in a report on Thursday, November 13th. Citigroup reaffirmed a “market perform” rating on shares of Open Lending in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a research report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and set a $2.80 target price (up previously from $2.50) on shares of Open Lending in a research note on Thursday, August 7th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $4.00 price target on shares of Open Lending in a research report on Tuesday, November 11th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Open Lending has a consensus rating of “Hold” and an average price target of $2.92.

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.