Open Lending Corporation (NASDAQ:LPRO) Receives Average Recommendation of “Hold” from Brokerages

Open Lending Corporation (NASDAQ:LPRO) has been assigned a consensus rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $2.9167.

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group decreased their price objective on shares of Open Lending from $7.00 to $2.00 and set a “hold” rating on the stock in a research 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. Citigroup restated a “market perform” rating on shares of Open Lending in a report on Wednesday, November 12th. Finally, DA Davidson reiterated a “buy” rating and issued a $4.00 price objective 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 bought 40,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was purchased at an average price of $1.52 per share, with a total value of $60,800.00. Following the transaction, the insider owned 44,363 shares of the company’s stock, valued at approximately $67,431.76. The trade was a 916.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Open Lending

Several institutional investors and hedge funds have recently modified their holdings of LPRO. R Squared Ltd bought a new position in Open Lending in the 2nd quarter worth about $28,000. Prudential Financial Inc. purchased a new position in Open Lending in the second quarter worth about $28,000. Brighton Jones LLC bought a new position in shares of Open Lending in the second quarter worth approximately $30,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Open Lending during the first quarter valued at approximately $43,000. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in shares of Open Lending during the second quarter valued at approximately $32,000. 78.06% of the stock is currently owned by institutional investors.

Open Lending Stock Down 4.1%

LPRO stock opened at $2.11 on Wednesday. The stock has a 50-day simple moving average of $1.74 and a two-hundred day simple moving average of $2.00. Open Lending has a twelve month low of $0.70 and a twelve month high of $6.73. The firm has a market capitalization of $249.38 million, a PE ratio of -1.69 and a beta of 2.00. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 1.74.

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

About Open Lending

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.