Open Lending Co. (NASDAQ:LPRO) Given Consensus Rating of “Moderate Buy” by Brokerages

Open Lending Co. (NASDAQ:LPRO) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $6.83.

Separately, Needham & Company LLC upgraded shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Wednesday, January 29th.

Hedge Funds Weigh In On Open Lending

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. boosted its position in Open Lending by 1.5% during the fourth quarter. Invesco Ltd. now owns 157,318 shares of the company’s stock worth $939,000 after acquiring an additional 2,287 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in Open Lending by 7.5% during the third quarter. Chicago Partners Investment Group LLC now owns 43,000 shares of the company’s stock worth $263,000 after acquiring an additional 3,000 shares during the last quarter. LPL Financial LLC boosted its position in Open Lending by 4.2% during the fourth quarter. LPL Financial LLC now owns 82,461 shares of the company’s stock worth $492,000 after acquiring an additional 3,309 shares during the last quarter. QRG Capital Management Inc. boosted its position in Open Lending by 24.4% during the third quarter. QRG Capital Management Inc. now owns 18,148 shares of the company’s stock worth $111,000 after acquiring an additional 3,561 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in Open Lending by 4.3% during the fourth quarter. Federated Hermes Inc. now owns 97,379 shares of the company’s stock worth $581,000 after acquiring an additional 4,059 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Open Lending Stock Down 4.9 %

Shares of NASDAQ LPRO opened at $5.18 on Friday. The company’s 50-day simple moving average is $5.72 and its 200-day simple moving average is $5.81. Open Lending has a 52-week low of $4.57 and a 52-week high of $8.14. The firm has a market cap of $617.64 million, a price-to-earnings ratio of 172.50 and a beta of 1.16. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61.

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.