Open Lending Co. (NASDAQ:LPRO) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Open Lending Co. (NASDAQ:LPRO) have been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $6.83.

Separately, Needham & Company LLC raised Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, January 29th.

Institutional Investors Weigh In On Open Lending

Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in shares of Open Lending by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 41,152 shares of the company’s stock valued at $230,000 after acquiring an additional 2,631 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Open Lending by 7.5% during the third quarter. Chicago Partners Investment Group LLC now owns 43,000 shares of the company’s stock worth $263,000 after buying an additional 3,000 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Open Lending by 24.4% during the third quarter. QRG Capital Management Inc. now owns 18,148 shares of the company’s stock worth $111,000 after buying an additional 3,561 shares in the last quarter. R Squared Ltd bought a new stake in Open Lending during the fourth quarter worth $25,000. Finally, Rhumbline Advisers grew its holdings in Open Lending by 3.7% during the fourth quarter. Rhumbline Advisers now owns 146,101 shares of the company’s stock worth $872,000 after buying an additional 5,149 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

Open Lending Price Performance

Shares of LPRO opened at $6.57 on Wednesday. Open Lending has a 52-week low of $4.57 and a 52-week high of $8.43. 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 business’s 50 day moving average price is $5.78 and its two-hundred day moving average price is $5.81. The firm has a market cap of $784.13 million, a PE ratio of 219.00 and a beta of 1.16.

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

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.