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

Shares of Open Lending Co. (NASDAQ:LPRO) have been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $6.83.

LPRO has been the subject of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Open Lending in a research report on Wednesday, October 2nd. Morgan Stanley cut their price objective on Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. DA Davidson cut their target price on Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, JMP Securities lowered their price objective on shares of Open Lending from $8.00 to $7.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th.

Open Lending Trading Up 0.2 %

Shares of LPRO opened at $6.48 on Tuesday. The stock has a market cap of $773.39 million, a PE ratio of 216.00, a price-to-earnings-growth ratio of 2.78 and a beta of 1.13. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending has a 52-week low of $4.57 and a 52-week high of $8.70. The firm’s fifty day moving average is $5.98 and its two-hundred day moving average is $5.93.

Institutional Investors Weigh In On Open Lending

Hedge funds and other institutional investors have recently modified their holdings of the company. EVR Research LP acquired a new stake in Open Lending during the second quarter worth approximately $2,758,000. Royce & Associates LP raised its holdings in shares of Open Lending by 152.1% in the third quarter. Royce & Associates LP now owns 481,640 shares of the company’s stock valued at $2,948,000 after buying an additional 290,602 shares during the last quarter. Wasatch Advisors LP increased its position in Open Lending by 1.4% in the 3rd quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company’s stock valued at $101,780,000 after acquiring an additional 222,969 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Open Lending during the third quarter worth approximately $1,153,000. Finally, Main Management ETF Advisors LLC purchased a new position in Open Lending during the 3rd quarter worth $845,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.