Open Lending Co. (NASDAQ:LPRO) Receives $4.44 Average Price Target from Analysts

Shares of Open Lending Co. (NASDAQ:LPRO - Get Free Report) have earned an average recommendation of "Hold" from the seven analysts that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $4.44.

A number of research firms have recently issued reports on LPRO. Citizens Jmp began coverage on shares of Open Lending in a research note on Friday, April 4th. They issued a "market perform" rating on the stock. DA Davidson restated a "buy" rating and set a $4.00 price target on shares of Open Lending in a research note on Wednesday, April 16th. Jefferies Financial Group lowered Open Lending from a "buy" rating to a "hold" rating and lowered their price target for the stock from $8.00 to $3.70 in a research report on Thursday, March 20th. Finally, Needham & Company LLC boosted their price objective on Open Lending from $2.00 to $2.50 and gave the company a "buy" rating in a report on Friday, May 9th.

Open Lending Trading Up 8.5%

Open Lending stock traded up $0.15 during mid-day trading on Tuesday, hitting $1.92. The company's stock had a trading volume of 965,283 shares, compared to its average volume of 1,080,190. The stock's fifty day moving average is $1.47 and its two-hundred day moving average is $4.05. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $229.98 million, a PE ratio of 64.00 and a beta of 1.79. Open Lending has a 1 year low of $0.70 and a 1 year high of $6.97.

Open Lending (NASDAQ:LPRO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. The business had revenue of $24.39 million during the quarter, compared to analysts' expectations of $24.78 million. Open Lending had a return on equity of 2.15% and a net margin of 4.78%. On average, analysts anticipate that Open Lending will post 0.1 EPS for the current year.

Insider Activity at Open Lending

In other news, CEO Jessica E. Buss bought 12,975 shares of Open Lending stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average price of $1.93 per share, with a total value of $25,041.75. Following the completion of the acquisition, the chief executive officer now directly owns 46,446 shares in the company, valued at $89,640.78. The trade was a 38.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Open Lending

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC increased its holdings in Open Lending by 2,751.6% in the first quarter. Jane Street Group LLC now owns 430,391 shares of the company's stock valued at $1,188,000 after buying an additional 415,298 shares during the last quarter. Palogic Value Management L.P. boosted its position in shares of Open Lending by 52.2% during the 1st quarter. Palogic Value Management L.P. now owns 1,092,677 shares of the company's stock worth $3,016,000 after acquiring an additional 374,629 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Open Lending in the 1st quarter valued at about $54,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Open Lending during the 1st quarter worth about $43,000. Finally, Josh Arnold Investment Consultant LLC purchased a new stake in Open Lending during the first quarter worth approximately $428,000. 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.