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

Shares of Open Lending Co. (NASDAQ:LPRO) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have covered 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 price objective on the stock in a research report on Wednesday, January 29th.

Institutional Trading of Open Lending

Large investors have recently made changes to their positions in the stock. R Squared Ltd purchased a new stake in shares of Open Lending during the fourth quarter valued at $25,000. Quantbot Technologies LP purchased a new stake in shares of Open Lending during the fourth quarter valued at $54,000. Quantinno Capital Management LP purchased a new stake in shares of Open Lending during the third quarter valued at $68,000. Ameriprise Financial Inc. purchased a new stake in shares of Open Lending during the fourth quarter valued at $80,000. Finally, BNP Paribas Financial Markets purchased a new stake in Open Lending in the fourth quarter worth about $87,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Open Lending Trading Up 2.6 %

LPRO stock opened at $3.57 on Thursday. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending has a twelve month low of $3.15 and a twelve month high of $7.49. The stock has a market capitalization of $426.08 million, a price-to-earnings ratio of 119.00 and a beta of 1.25. The firm’s fifty day simple moving average is $5.24 and its two-hundred day simple moving average is $5.69.

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.