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

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

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

Insider Buying and Selling at Open Lending

In other news, 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 purchase, the insider directly owned 44,363 shares of the company’s stock, valued at approximately $67,431.76. This trade represents a 916.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Open Lending

A number of hedge funds and other institutional investors have recently bought and sold shares of LPRO. Ethos Financial Group LLC increased its holdings in shares of Open Lending by 21.0% in the second quarter. Ethos Financial Group LLC now owns 3,567,723 shares of the company’s stock valued at $6,921,000 after purchasing an additional 618,952 shares during the last quarter. LB Partners LLC acquired a new position in Open Lending in the 2nd quarter valued at about $9,799,000. Palogic Value Management L.P. raised its holdings in 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 acquiring an additional 4,807,323 shares during the period. Josh Arnold Investment Consultant LLC acquired a new stake in Open Lending during the first quarter worth approximately $428,000. Finally, Caption Management LLC bought a new stake in shares of Open Lending during the first quarter worth approximately $856,000. Institutional investors own 78.06% of the company’s stock.

Open Lending Stock Up 4.0%

Shares of LPRO stock opened at $1.68 on Friday. The firm’s fifty day moving average price is $1.74 and its two-hundred day moving average price is $2.04. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 1.74. Open Lending has a 1 year low of $0.70 and a 1 year high of $6.73. The firm has a market capitalization of $199.03 million, a P/E ratio of -1.35 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 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $24.17 million for the quarter, compared to analyst estimates of $22.15 million. On average, equities analysts predict that Open Lending will post 0.1 EPS for the current fiscal year.

Open Lending Company Profile

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.