Open Lending Co. (NASDAQ:LPRO) Receives Consensus Recommendation of “Hold” from Brokerages

Open Lending Co. (NASDAQ:LPRO) has been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $6.79.

LPRO has been the topic of a number of recent research reports. Canaccord Genuity Group dropped their target price on Open Lending from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. Needham & Company LLC dropped their target price on Open Lending from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Raymond James restated an “outperform” rating and issued a $8.00 target price on shares of Open Lending in a report on Tuesday, March 26th. BTIG Research assumed coverage on Open Lending in a research report on Friday, June 7th. They set a “neutral” rating for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $8.00 price target on shares of Open Lending in a research report on Tuesday, March 26th.

Open Lending Price Performance

Open Lending stock opened at $5.58 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 13.14 and a current ratio of 13.14. Open Lending has a 52 week low of $4.57 and a 52 week high of $11.73. The stock has a market capitalization of $664.97 million, a P/E ratio of 50.73 and a beta of 1.12. The stock has a fifty day moving average of $5.91 and a 200-day moving average of $6.71.

Open Lending (NASDAQ:LPRO) last announced its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business had revenue of $30.75 million for the quarter, compared to the consensus estimate of $28.65 million. Open Lending had a net margin of 13.31% and a return on equity of 6.87%. The firm’s revenue for the quarter was down 19.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 EPS. On average, sell-side analysts expect that Open Lending will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Open Lending

A number of institutional investors and hedge funds have recently modified their holdings of LPRO. Wasatch Advisors LP raised its holdings in Open Lending by 3.5% in the 1st quarter. Wasatch Advisors LP now owns 16,094,115 shares of the company’s stock worth $100,749,000 after purchasing an additional 546,166 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Open Lending by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,756,601 shares of the company’s stock worth $67,337,000 after purchasing an additional 51,276 shares during the period. Vanguard Group Inc. raised its holdings in Open Lending by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,427,552 shares of the company’s stock worth $69,010,000 after purchasing an additional 174,115 shares during the period. Working Capital Advisors UK Ltd. raised its holdings in Open Lending by 10.2% in the 4th quarter. Working Capital Advisors UK Ltd. now owns 7,088,535 shares of the company’s stock worth $60,323,000 after purchasing an additional 658,240 shares during the period. Finally, Cannell Capital LLC raised its holdings in Open Lending by 55.4% in the 4th quarter. Cannell Capital LLC now owns 2,646,831 shares of the company’s stock worth $22,525,000 after purchasing an additional 943,429 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

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.