Open Lending (NASDAQ:LPRO) Shares Down 5.3% – Time to Sell?

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

Analysts Set New Price Targets

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Open Lending in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.83.

Open Lending Stock Performance

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 firm has a 50 day moving average price of $6.01 and a two-hundred day moving average price of $5.91. The company has a market capitalization of $682.68 million, a P/E ratio of 190.67, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16.

Institutional Trading of Open Lending

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