Open Lending Co. (NASDAQ:LPRO - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $4.80, but opened at $4.92. Open Lending shares last traded at $4.88, with a volume of 26,759 shares trading hands.
Analyst Ratings Changes
Several research analysts have commented on the company. Canaccord Genuity Group lowered their target price on Open Lending from $7.50 to $7.00 and set a "hold" rating for the company in a research note on Tuesday, March 26th. Morgan Stanley raised shares of Open Lending from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $4.00 to $7.00 in a research note on Tuesday, February 6th. JMP Securities reiterated a "market outperform" rating and issued a $8.00 price target on shares of Open Lending in a research note on Tuesday, March 26th. Needham & Company LLC restated a "buy" rating and set a $8.00 price objective on shares of Open Lending in a research report on Wednesday, February 28th. Finally, Raymond James reissued an "outperform" rating and set a $8.00 price target on shares of Open Lending in a research note on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Open Lending presently has an average rating of "Hold" and a consensus target price of $7.07.
Check Out Our Latest Stock Analysis on Open Lending
Open Lending Price Performance
The firm has a market cap of $565.87 million, a P/E ratio of 28.00 and a beta of 0.99. The company has a quick ratio of 14.08, a current ratio of 14.08 and a debt-to-equity ratio of 0.68. The business's 50 day moving average is $6.81 and its two-hundred day moving average is $6.93.
Open Lending (NASDAQ:LPRO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The business had revenue of $14.90 million during the quarter, compared to the consensus estimate of $27.55 million. During the same period last year, the business posted ($0.03) earnings per share. The business's revenue was down 44.4% on a year-over-year basis. As a group, analysts anticipate that Open Lending Co. will post 0.28 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director John Joseph Flynn sold 50,000 shares of the company's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $7.25, for a total transaction of $362,500.00. Following the transaction, the director now owns 2,079,666 shares in the company, valued at $15,077,578.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 150,000 shares of company stock worth $1,110,000. 17.10% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Open Lending during the second quarter worth approximately $29,000. Point72 Hong Kong Ltd acquired a new position in Open Lending during the first quarter worth $41,000. Envestnet Asset Management Inc. bought a new position in shares of Open Lending in the first quarter valued at $78,000. QRG Capital Management Inc. acquired a new position in shares of Open Lending during the third quarter valued at about $84,000. Finally, Tower Research Capital LLC TRC boosted its stake in Open Lending by 58.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,599 shares of the company's stock valued at $85,000 after purchasing an additional 3,923 shares during the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.
About Open Lending
(
Get Free Report)
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.
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