Open Lending Corporation (NASDAQ:LPRO) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Open Lending Corporation has received an average rating of "Moderate Buy" from six analysts, with three recommending a hold and three a buy, and an average price target of $3.10.
• Institutional investment in Open Lending has increased significantly, with Cannell Capital boosting its stake by 87.1% and Man Group increasing its holdings by 1,815.6% during the second quarter.
• Open Lending experienced slight earnings misses with a reported $0.01 EPS compared to the consensus estimate of $0.02, but exceeded revenue expectations with $25.31 million.

Shares of Open Lending Corporation (NASDAQ:LPRO - Get Free Report) have received an average rating of "Moderate Buy" from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Three investment 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 $3.10.

LPRO has been the topic of several analyst reports. Needham & Company LLC raised their price objective on Open Lending from $2.00 to $2.50 and gave the stock a "buy" rating in a report on Friday, May 9th. Stephens began coverage on Open Lending in a research report on Thursday, June 12th. They set an "equal weight" rating and a $2.50 target price on the stock. Finally, Raymond James Financial reissued an "outperform" rating and issued a $2.80 price target (up from $2.50) on shares of Open Lending in a research note on Thursday, August 7th.

Open Lending Price Performance

LPRO stock traded down $0.02 during trading on Friday, hitting $2.04. The stock had a trading volume of 446,374 shares, compared to its average volume of 764,258. The stock has a market cap of $241.07 million, a price-to-earnings ratio of -1.73 and a beta of 1.92. The company has a debt-to-equity ratio of 1.63, a quick ratio of 5.67 and a current ratio of 5.67. The company's 50 day moving average price is $2.24 and its two-hundred day moving average price is $2.64. Open Lending has a 1-year low of $0.70 and a 1-year high of $6.92.

Open Lending (NASDAQ:LPRO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). The firm had revenue of $25.31 million for the quarter, compared to analyst estimates of $23.63 million. On average, sell-side analysts forecast that Open Lending will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Open Lending

A number of institutional investors have recently bought and sold shares of the stock. Cannell Capital LLC raised its stake in Open Lending by 87.1% during the second quarter. Cannell Capital LLC now owns 3,596,490 shares of the company's stock worth $6,977,000 after purchasing an additional 1,674,646 shares during the period. SkyView Investment Advisors LLC grew its stake in shares of Open Lending by 21.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 113,246 shares of the company's stock valued at $229,000 after buying an additional 19,628 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Open Lending during the 2nd quarter worth $47,000. Man Group plc increased its holdings in shares of Open Lending by 1,815.6% during the 2nd quarter. Man Group plc now owns 339,219 shares of the company's stock worth $658,000 after buying an additional 321,511 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Open Lending by 73.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 39,707 shares of the company's stock worth $77,000 after buying an additional 16,785 shares during the period. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Open Lending Company Profile

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.