Open Lending (NASDAQ:LPRO) Shares Down 5.3% – Should You Sell?

Open Lending Co. (NASDAQ:LPRO) shares fell 5.3% during mid-day trading on Friday . The company traded as low as $5.73 and last traded at $5.76. 86,682 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 414,385 shares. The stock had previously closed at $6.08.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Open Lending in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.83.

Open Lending Stock Performance

The business has a 50 day moving average price of $6.02 and a two-hundred day moving average price of $5.92. The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42. The company has a market cap of $694.62 million, a P/E ratio of 202.67, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LPRO. Wasatch Advisors LP boosted its position in Open Lending by 1.4% during the 3rd quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company’s stock valued at $101,780,000 after buying an additional 222,969 shares during the period. State Street Corp boosted its holdings in shares of Open Lending by 2.6% during the third quarter. State Street Corp now owns 2,545,783 shares of the company’s stock worth $15,580,000 after purchasing an additional 63,450 shares during the period. Geode Capital Management LLC grew its stake in shares of Open Lending by 3.0% in the third quarter. Geode Capital Management LLC now owns 2,365,266 shares of the company’s stock worth $14,478,000 after purchasing an additional 68,721 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Open Lending by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 841,913 shares of the company’s stock valued at $5,153,000 after purchasing an additional 31,434 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Open Lending by 9.4% in the 2nd quarter. Sei Investments Co. now owns 532,852 shares of the company’s stock worth $2,973,000 after buying an additional 45,959 shares during the period. Institutional investors own 78.06% of the company’s stock.

Open Lending Company Profile

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.