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

Open Lending Co. (NASDAQ:LPRO) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $4.44.

A number of research firms have commented on LPRO. DA Davidson reissued a “buy” rating and issued a $4.00 target price on shares of Open Lending in a report on Wednesday, April 16th. Citizens Jmp began coverage on shares of Open Lending in a report on Friday, April 4th. They set a “market perform” rating for the company. Jefferies Financial Group downgraded Open Lending from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $8.00 to $3.70 in a research note on Thursday, March 20th. Finally, Needham & Company LLC raised their price objective on shares of Open Lending from $2.00 to $2.50 and gave the company a “buy” rating in a research report on Friday, May 9th.

Open Lending Stock Up 3.0%

NASDAQ:LPRO opened at $2.07 on Tuesday. The company has a market capitalization of $247.95 million, a PE ratio of 69.00 and a beta of 1.94. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. Open Lending has a 1-year low of $0.70 and a 1-year high of $6.92. The firm’s 50-day moving average price is $1.47 and its 200-day moving average price is $3.91.

Open Lending (NASDAQ:LPRO) last released its earnings results on Wednesday, May 7th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $24.39 million for the quarter, compared to analysts’ expectations of $24.78 million. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. On average, equities analysts predict that Open Lending will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Open Lending news, CEO Jessica E. Buss acquired 12,975 shares of the stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $1.93 per share, for a total transaction of $25,041.75. Following the completion of the transaction, the chief executive officer now directly owns 46,446 shares of the company’s stock, valued at $89,640.78. This trade represents a 38.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Open Lending

Large investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Open Lending in the 4th quarter worth about $25,000. Summit Securities Group LLC bought a new position in Open Lending in the first quarter worth approximately $32,000. Teacher Retirement System of Texas purchased a new position in shares of Open Lending in the 1st quarter valued at $41,000. Dynamic Technology Lab Private Ltd bought a new stake in Open Lending during the first quarter valued at about $43,000. Finally, Quantbot Technologies LP bought a new position in Open Lending in the fourth quarter worth about $54,000. 78.06% of the stock is owned by 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.