Open Lending Corporation (NASDAQ:LPRO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Open Lending Corporation (NASDAQ:LPRO) have been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $2.7375.

LPRO has been the subject of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Open Lending in a research note on Tuesday, June 9th. DA Davidson restated a “buy” rating and set a $3.00 target price on shares of Open Lending in a research note on Wednesday. Northland Securities set a $3.15 target price on shares of Open Lending in a research note on Wednesday. Wall Street Zen cut shares of Open Lending from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Canaccord Genuity Group restated a “hold” rating and set a $2.00 target price on shares of Open Lending in a research note on Tuesday, March 17th.

Institutional Trading of Open Lending

Hedge funds have recently added to or reduced their stakes in the company. Portolan Capital Management LLC acquired a new stake in Open Lending during the 3rd quarter worth approximately $7,752,000. Whetstone Capital Advisors LLC raised its stake in Open Lending by 34.0% in the 4th quarter. Whetstone Capital Advisors LLC now owns 6,014,667 shares of the company’s stock worth $9,323,000 after purchasing an additional 1,525,926 shares in the last quarter. R Squared Ltd raised its stake in Open Lending by 25.6% in the 1st quarter. R Squared Ltd now owns 35,905 shares of the company’s stock worth $45,000 after purchasing an additional 7,315 shares in the last quarter. LB Partners LLC raised its stake in Open Lending by 2.9% in the 1st quarter. LB Partners LLC now owns 5,400,841 shares of the company’s stock worth $6,751,000 after purchasing an additional 150,000 shares in the last quarter. Finally, Wasatch Advisors LP raised its stake in Open Lending by 11.3% in the 1st quarter. Wasatch Advisors LP now owns 7,054,107 shares of the company’s stock worth $8,818,000 after purchasing an additional 716,509 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

Open Lending Stock Performance

LPRO opened at $3.11 on Friday. Open Lending has a 12-month low of $1.17 and a 12-month high of $3.13. The stock has a market cap of $365.98 million, a price-to-earnings ratio of -77.75 and a beta of 2.28. The business has a 50 day moving average of $1.93 and a 200-day moving average of $1.72. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.00.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The business had revenue of $20.49 million during the quarter, compared to analyst estimates of $20.41 million. Open Lending had a negative net margin of 5.95% and a positive return on equity of 7.53%. On average, equities research analysts expect that Open Lending will post 0.08 earnings per share for the current 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.