Open Lending Co. (NASDAQ:LPRO) Given Consensus Rating of “Hold” by Analysts

Open Lending Co. (NASDAQ:LPRO) has been given an average recommendation of “Hold” by the seven analysts that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $6.83.

Separately, Needham & Company LLC upgraded shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Wednesday.

Open Lending Price Performance

Shares of NASDAQ LPRO opened at $5.64 on Wednesday. Open Lending has a 1 year low of $4.57 and a 1 year high of $8.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. The company’s 50-day moving average is $5.79 and its 200 day moving average is $5.82. The stock has a market capitalization of $673.13 million, a P/E ratio of 188.00 and a beta of 1.16.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The business had revenue of $23.48 million during the quarter, compared to analysts’ expectations of $29.46 million. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. During the same quarter last year, the company posted $0.02 EPS. On average, sell-side analysts expect that Open Lending will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On Open Lending

Institutional investors have recently made changes to their positions in the company. Chicago Partners Investment Group LLC lifted its position in Open Lending by 16.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 50,166 shares of the company’s stock valued at $274,000 after purchasing an additional 7,166 shares during the period. R Squared Ltd bought a new position in Open Lending during the fourth quarter valued at approximately $25,000. Barclays PLC lifted its position in Open Lending by 363.5% during the third quarter. Barclays PLC now owns 169,024 shares of the company’s stock valued at $1,034,000 after purchasing an additional 132,561 shares during the period. Geode Capital Management LLC lifted its position in Open Lending by 3.0% during the third quarter. Geode Capital Management LLC now owns 2,365,266 shares of the company’s stock valued at $14,478,000 after purchasing an additional 68,721 shares during the period. Finally, Main Management ETF Advisors LLC bought a new position in Open Lending during the third quarter valued at approximately $845,000. Hedge funds and other 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.