Open Lending (NASDAQ:LPRO) Downgraded by Northland Securities to Hold

Northland Securities cut shares of Open Lending (NASDAQ:LPRO) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other equities research analysts also recently weighed in on the company. DA Davidson decreased their target price on Open Lending from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Wall Street Zen cut Open Lending from a “hold” rating to a “sell” rating in a research note on Sunday. Canaccord Genuity Group reiterated a “hold” rating and issued a $2.00 price target on shares of Open Lending in a research note on Tuesday, March 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Open Lending in a research note on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.60.

Open Lending Price Performance

LPRO stock opened at $3.11 on Tuesday. Open Lending has a 12-month low of $1.17 and a 12-month high of $3.13. The stock has a 50-day moving average price of $1.90 and a two-hundred day moving average price of $1.71. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.00. The company has a market cap of $365.98 million, a PE ratio of -77.75 and a beta of 2.28.

Open Lending (NASDAQ:LPRO) last issued its earnings results on Thursday, May 7th. The company reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.01). Open Lending had a positive return on equity of 7.53% and a negative net margin of 5.95%.The company had revenue of $20.49 million during the quarter, compared to analysts’ expectations of $20.41 million. As a group, research analysts predict that Open Lending will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wasatch Advisors LP raised its position in shares of Open Lending by 11.3% during the 1st quarter. Wasatch Advisors LP now owns 7,054,107 shares of the company’s stock worth $8,818,000 after purchasing an additional 716,509 shares during the period. Whetstone Capital Advisors LLC raised its position in shares of Open Lending by 34.0% during the 4th quarter. Whetstone Capital Advisors LLC now owns 6,014,667 shares of the company’s stock worth $9,323,000 after purchasing an additional 1,525,926 shares during the period. LB Partners LLC raised its position in shares of Open Lending by 2.9% during the 1st quarter. LB Partners LLC now owns 5,400,841 shares of the company’s stock worth $6,751,000 after purchasing an additional 150,000 shares during the period. Portolan Capital Management LLC acquired a new stake in shares of Open Lending during the 3rd quarter worth approximately $7,752,000. Finally, Cannell Capital LLC raised its position in shares of Open Lending by 87.1% during the 2nd quarter. Cannell Capital LLC now owns 3,596,490 shares of the company’s stock worth $6,977,000 after purchasing an additional 1,674,646 shares during the period. Institutional investors own 78.06% of the company’s stock.

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.