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

Shares of Open Lending Co. (NASDAQ:LPRO) have received a consensus rating of “Hold” from the nine brokerages that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $6.56.

A number of equities research analysts have weighed in on LPRO shares. Needham & Company LLC lowered shares of Open Lending from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. DA Davidson reduced their price objective on Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, August 12th. JMP Securities reduced their price objective on Open Lending from $8.00 to $7.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Morgan Stanley reduced their price objective on Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Finally, BTIG Research initiated coverage on Open Lending in a research note on Friday, June 7th. They issued a “neutral” rating for the company.

Open Lending Stock Performance

Open Lending stock opened at $5.99 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 13.32 and a current ratio of 13.32. The stock’s 50 day simple moving average is $5.73 and its two-hundred day simple moving average is $5.88. Open Lending has a fifty-two week low of $4.57 and a fifty-two week high of $8.70. The stock has a market cap of $713.80 million, a price-to-earnings ratio of 54.45 and a beta of 1.12.

Open Lending (NASDAQ:LPRO) last announced its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The company had revenue of $26.73 million for the quarter, compared to analysts’ expectations of $31.03 million. Open Lending had a net margin of 6.25% and a return on equity of 2.90%. 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. As a group, analysts expect that Open Lending will post 0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in Open Lending in the 2nd quarter worth $33,000. Point72 Asset Management L.P. bought a new position in Open Lending in the 2nd quarter worth $110,000. Algert Global LLC boosted its holdings in Open Lending by 3.7% in the 2nd quarter. Algert Global LLC now owns 398,913 shares of the company’s stock worth $2,226,000 after buying an additional 14,191 shares during the period. SkyView Investment Advisors LLC boosted its holdings in Open Lending by 100.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 20,000 shares of the company’s stock worth $112,000 after buying an additional 10,000 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Open Lending by 6.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,152 shares of the company’s stock worth $230,000 after buying an additional 2,631 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.