Open Lending Co. (NASDAQ:LPRO) Receives $7.07 Consensus PT from Brokerages

Shares of Open Lending Co. (NASDAQ:LPRO) have been given a consensus recommendation of “Hold” by the nine research firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $7.07.

A number of brokerages recently weighed in on LPRO. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of Open Lending in a report on Wednesday, February 28th. Raymond James reiterated an “outperform” rating and set a $8.00 price target on shares of Open Lending in a research report on Tuesday, March 26th. Canaccord Genuity Group lowered their price objective on shares of Open Lending from $7.50 to $7.00 and set a “hold” rating for the company in a report on Tuesday, March 26th. Morgan Stanley raised shares of Open Lending from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $4.00 to $7.00 in a research note on Tuesday, February 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of Open Lending in a research report on Tuesday, March 26th.

Open Lending Price Performance

LPRO stock opened at $4.76 on Monday. The firm has a 50 day simple moving average of $6.76 and a two-hundred day simple moving average of $6.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.08 and a quick ratio of 14.08. The stock has a market cap of $565.87 million, a PE ratio of 28.00 and a beta of 0.99. Open Lending has a one year low of $4.75 and a one year high of $11.99.

Open Lending (NASDAQ:LPRO) last released its earnings results on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). Open Lending had a net margin of 18.79% and a return on equity of 10.45%. The firm had revenue of $14.90 million during the quarter, compared to the consensus estimate of $27.55 million. During the same period in the prior year, the company earned ($0.03) EPS. The firm’s revenue was down 44.4% compared to the same quarter last year. On average, analysts predict that Open Lending will post 0.28 EPS for the current fiscal year.

Insider Transactions at Open Lending

In other Open Lending news, Director John Joseph Flynn sold 50,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $7.25, for a total value of $362,500.00. Following the sale, the director now owns 2,079,666 shares of the company’s stock, valued at approximately $15,077,578.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 150,000 shares of company stock worth $1,110,000. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. raised its holdings in shares of Open Lending by 10.2% during the second quarter. Prudential Financial Inc. now owns 13,986 shares of the company’s stock valued at $143,000 after acquiring an additional 1,300 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Open Lending by 51.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,665 shares of the company’s stock valued at $89,000 after purchasing an additional 1,591 shares during the period. Swiss National Bank raised its holdings in Open Lending by 1.1% in the 3rd quarter. Swiss National Bank now owns 172,450 shares of the company’s stock worth $1,262,000 after purchasing an additional 1,800 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Open Lending by 14.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 14,993 shares of the company’s stock worth $153,000 after purchasing an additional 1,913 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Open Lending by 15.9% in the 4th quarter. Russell Investments Group Ltd. now owns 15,273 shares of the company’s stock worth $130,000 after purchasing an additional 2,090 shares during the period. Institutional investors own 78.06% of the company’s stock.

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.