Open Lending (NASDAQ:LPRO) Shares Down 4.2% – Time to Sell?

Open Lending Co. (NASDAQ:LPRO)’s share price traded down 4.2% during mid-day trading on Thursday . The company traded as low as $5.93 and last traded at $5.94. 38,540 shares were traded during trading, a decline of 91% from the average session volume of 414,246 shares. The stock had previously closed at $6.20.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated 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 issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.83.

Open Lending Price Performance

The stock has a market cap of $700.58 million, a price-to-earnings ratio of 195.67, a PEG ratio of 2.46 and a beta of 1.16. The company’s 50 day moving average is $6.04 and its 200 day moving average is $5.91. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42.

Institutional Trading of Open Lending

A number of institutional investors have recently bought and sold shares of LPRO. Bank of New York Mellon Corp boosted its position in shares of Open Lending by 12.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 386,306 shares of the company’s stock worth $2,156,000 after buying an additional 41,792 shares in the last quarter. SlateStone Wealth LLC acquired a new position in Open Lending during the second quarter worth about $70,000. Arizona State Retirement System lifted its holdings in shares of Open Lending by 32.2% in the second quarter. Arizona State Retirement System now owns 28,288 shares of the company’s stock valued at $158,000 after purchasing an additional 6,896 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Open Lending by 9.2% in the second quarter. Federated Hermes Inc. now owns 95,418 shares of the company’s stock valued at $532,000 after purchasing an additional 8,010 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Open Lending by 48.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 108,951 shares of the company’s stock worth $608,000 after purchasing an additional 35,435 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

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.