Open Lending Co. (NASDAQ:LPRO) Receives Average Rating of “Hold” from Analysts

Open Lending Co. (NASDAQ:LPRO) has been given a consensus recommendation of “Hold” by the seven analysts that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $6.83.

Several analysts have issued reports on the stock. Morgan Stanley dropped their target price on Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Open Lending in a research report on Wednesday, October 2nd. JMP Securities dropped their price target on Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Finally, DA Davidson dropped their target price on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, August 12th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPRO. EVR Research LP purchased a new position in shares of Open Lending during the 2nd quarter valued at approximately $2,758,000. King Luther Capital Management Corp purchased a new position in Open Lending in the second quarter valued at $558,000. Price T Rowe Associates Inc. MD raised its position in shares of Open Lending by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,756,601 shares of the company’s stock worth $67,337,000 after acquiring an additional 51,276 shares during the period. Royce & Associates LP raised its position in shares of Open Lending by 152.1% in the third quarter. Royce & Associates LP now owns 481,640 shares of the company’s stock worth $2,948,000 after acquiring an additional 290,602 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Open Lending during the 3rd quarter worth about $1,153,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Open Lending Stock Performance

Shares of NASDAQ LPRO opened at $6.48 on Tuesday. The firm has a 50 day moving average of $5.98 and a 200 day moving average of $5.93. The firm has a market capitalization of $773.39 million, a price-to-earnings ratio of 216.00, a price-to-earnings-growth ratio of 2.78 and a beta of 1.13. Open Lending has a 12-month low of $4.57 and a 12-month high of $8.70. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61.

Open Lending Company Profile

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.