Open Lending Corporation (NASDAQ:LPRO) Receives $2.92 Average Price Target from Brokerages

Open Lending Corporation (NASDAQ:LPRO) has been assigned a consensus recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $2.9167.

A number of equities analysts recently weighed in on LPRO shares. DA Davidson restated a “buy” rating and set a $4.00 target price on shares of Open Lending in a research report on Tuesday, November 11th. Citigroup reiterated a “market perform” rating on shares of Open Lending in a research note on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group cut their price objective on Open Lending from $7.00 to $2.00 and set a “hold” rating for the company in a research report on Thursday, November 13th.

Insiders Place Their Bets

In other news, insider Matthew Sather purchased 40,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was acquired at an average price of $1.52 per share, for a total transaction of $60,800.00. Following the acquisition, the insider directly owned 44,363 shares of the company’s stock, valued at $67,431.76. This represents a 916.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased its position in Open Lending by 84.0% in the first quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock worth $65,000 after purchasing an additional 10,812 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Open Lending during the first quarter valued at $43,000. Caxton Associates LLP purchased a new position in shares of Open Lending in the 1st quarter worth $54,000. Jane Street Group LLC increased its holdings in shares of Open Lending by 2,751.6% in the 1st quarter. Jane Street Group LLC now owns 430,391 shares of the company’s stock worth $1,188,000 after buying an additional 415,298 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Open Lending in the 2nd quarter worth about $44,000. 78.06% of the stock is currently owned by institutional investors.

Open Lending Stock Performance

NASDAQ:LPRO opened at $2.11 on Wednesday. The stock has a 50-day moving average price of $1.74 and a 200 day moving average price of $2.01. The stock has a market capitalization of $249.38 million, a P/E ratio of -1.69 and a beta of 2.00. Open Lending has a 12-month low of $0.70 and a 12-month high of $6.73. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 1.74.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $24.17 million during the quarter, compared to the consensus estimate of $22.15 million. Equities research analysts forecast that Open Lending will post 0.1 EPS for the current fiscal year.

About Open Lending

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.