Open Lending Co. (NASDAQ:LPRO) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Open Lending Co. (NASDAQ:LPRO) have received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $6.12.

Several equities analysts have weighed in on LPRO shares. Jefferies Financial Group cut Open Lending from a “buy” rating to a “hold” rating and lowered their target price for the company from $8.00 to $3.70 in a research note on Thursday, March 20th. Needham & Company LLC raised shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Wednesday, January 29th.

Hedge Funds Weigh In On Open Lending

A number of hedge funds have recently added to or reduced their stakes in LPRO. R Squared Ltd bought a new stake in Open Lending in the fourth quarter worth approximately $25,000. Quantbot Technologies LP acquired a new stake in shares of Open Lending in the 4th quarter valued at $54,000. Quantinno Capital Management LP bought a new stake in Open Lending in the third quarter worth $68,000. Ameriprise Financial Inc. acquired a new position in Open Lending during the fourth quarter worth $80,000. Finally, BNP Paribas Financial Markets bought a new position in Open Lending during the fourth quarter valued at about $87,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Stock Performance

Shares of Open Lending stock opened at $3.01 on Thursday. The stock has a market cap of $359.24 million, a PE ratio of 100.33 and a beta of 1.25. Open Lending has a 12 month low of $2.94 and a 12 month high of $6.97. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $5.03 and a 200-day simple moving average of $5.60.

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.