Open Lending Corporation (NASDAQ:LPRO) Receives Consensus Recommendation of “Hold” from Analysts

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

LPRO has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Open Lending in a research note on Thursday, January 22nd. Citigroup reiterated a “market perform” rating on shares of Open Lending in a research note on Wednesday, November 12th. Finally, Canaccord Genuity Group reduced their target price on Open Lending from $7.00 to $2.00 and set a “hold” rating for the company in a report on Thursday, November 13th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its holdings in Open Lending by 3.6% in the 3rd quarter. Wasatch Advisors LP now owns 6,406,790 shares of the company’s stock valued at $13,518,000 after purchasing an additional 224,183 shares in the last quarter. Whetstone Capital Advisors LLC raised its position in shares of Open Lending by 34.0% in the fourth quarter. Whetstone Capital Advisors LLC now owns 6,014,667 shares of the company’s stock valued at $9,323,000 after buying an additional 1,525,926 shares during the last quarter. Portolan Capital Management LLC purchased a new position in shares of Open Lending in the third quarter worth about $7,752,000. Cannell Capital LLC lifted its stake in shares of Open Lending by 87.1% in the second quarter. Cannell Capital LLC now owns 3,596,490 shares of the company’s stock worth $6,977,000 after buying an additional 1,674,646 shares in the last quarter. Finally, Ethos Financial Group LLC boosted its position in Open Lending by 21.0% during the second quarter. Ethos Financial Group LLC now owns 3,567,723 shares of the company’s stock worth $6,921,000 after acquiring an additional 618,952 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Open Lending Stock Performance

LPRO opened at $1.33 on Thursday. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 1.74. The company has a market cap of $157.19 million, a price-to-earnings ratio of -1.06 and a beta of 2.05. Open Lending has a 52-week low of $0.70 and a 52-week high of $4.56. The firm’s fifty day simple moving average is $1.66 and its two-hundred day simple moving average is $1.81.

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.