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

Open Lending Co. (NASDAQ:LPRO) has been given an average rating of “Hold” by the nine ratings firms that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $6.56.

A number of equities research analysts recently commented on the company. DA Davidson decreased their target price on Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Canaccord Genuity Group reduced their price objective on Open Lending from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Needham & Company LLC cut Open Lending from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. JMP Securities reduced their price objective 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, BTIG Research started coverage on Open Lending in a research note on Friday, June 7th. They set a “neutral” rating on the stock.

Open Lending Price Performance

NASDAQ:LPRO opened at $5.37 on Friday. The company has a current ratio of 13.14, a quick ratio of 13.14 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $639.92 million, a P/E ratio of 48.82 and a beta of 1.12. Open Lending has a 12 month low of $4.57 and a 12 month high of $8.70. The business’s 50-day moving average is $5.82 and its 200 day moving average is $6.21.

Open Lending (NASDAQ:LPRO) last posted its earnings results on Thursday, August 8th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The firm had revenue of $26.73 million during the quarter, compared to analysts’ expectations of $31.03 million. Open Lending had a return on equity of 6.87% and a net margin of 13.31%. Open Lending’s quarterly revenue was down 29.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. On average, equities research analysts forecast that Open Lending will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LPRO. Cetera Trust Company N.A bought a new position in shares of Open Lending during the fourth quarter valued at approximately $2,617,000. New York State Common Retirement Fund boosted its holdings in shares of Open Lending by 12.5% in the fourth quarter. New York State Common Retirement Fund now owns 42,857 shares of the company’s stock valued at $365,000 after purchasing an additional 4,745 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Open Lending by 15.9% in the fourth quarter. Russell Investments Group Ltd. now owns 15,273 shares of the company’s stock valued at $130,000 after purchasing an additional 2,090 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Open Lending by 27.3% in the fourth quarter. Victory Capital Management Inc. now owns 13,848 shares of the company’s stock valued at $118,000 after purchasing an additional 2,971 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Open Lending by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 776,264 shares of the company’s stock valued at $6,606,000 after purchasing an additional 9,957 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.