Open Lending (NASDAQ:LPRO) Reaches New 12-Month Low – Here’s What Happened

Open Lending Co. (NASDAQ:LPRO) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $4.27 and last traded at $4.35, with a volume of 184869 shares traded. The stock had previously closed at $4.50.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC raised Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.83.

Open Lending Trading Up 1.2 %

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 market cap of $514.40 million, a PE ratio of 143.67 and a beta of 1.25. The company has a 50 day simple moving average of $5.38 and a two-hundred day simple moving average of $5.74.

Institutional Trading of Open Lending

A number of hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP boosted its stake in shares of Open Lending by 0.6% in the fourth quarter. Wasatch Advisors LP now owns 16,736,229 shares of the company’s stock worth $99,915,000 after buying an additional 105,449 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Open Lending by 7.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,655,364 shares of the company’s stock worth $75,554,000 after buying an additional 920,630 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Open Lending by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 10,178,916 shares of the company’s stock worth $60,768,000 after buying an additional 160,617 shares during the last quarter. State Street Corp boosted its stake in shares of Open Lending by 2.6% in the third quarter. State Street Corp now owns 2,545,783 shares of the company’s stock worth $15,580,000 after buying an additional 63,450 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Open Lending by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,393,519 shares of the company’s stock worth $14,293,000 after buying an additional 28,253 shares during the last quarter. Hedge funds and other 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.