Open Lending Corporation (NASDAQ:LPRO) Given Consensus Rating of "Hold" by Analysts

Shares of Open Lending Corporation (NASDAQ:LPRO - Get Free Report) have been given an average recommendation of "Hold" by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $4.12.

LPRO has been the subject of a number of recent analyst reports. DA Davidson reaffirmed a "buy" rating and issued a $4.00 price objective on shares of Open Lending in a research report on Wednesday, April 16th. Needham & Company LLC increased their price objective on Open Lending from $2.00 to $2.50 and gave the company a "buy" rating in a research report on Friday, May 9th. Citizens Jmp assumed coverage on shares of Open Lending in a report on Friday, April 4th. They set a "market perform" rating for the company. Finally, Stephens started coverage on shares of Open Lending in a research report on Thursday, June 12th. They issued an "equal weight" rating and a $2.50 price target for the company.

Open Lending Stock Down 1.0%

Shares of LPRO traded down $0.03 during midday trading on Wednesday, reaching $2.56. 213,352 shares of the stock were exchanged, compared to its average volume of 1,814,375. Open Lending has a 52 week low of $0.70 and a 52 week high of $6.92. The company has a current ratio of 6.21, a quick ratio of 6.21 and a debt-to-equity ratio of 1.63. The company's 50 day moving average is $2.14 and its two-hundred day moving average is $3.09. The company has a market capitalization of $306.05 million, a P/E ratio of -2.18 and a beta of 1.93.

Open Lending (NASDAQ:LPRO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.01 EPS for the quarter, meeting 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. On average, sell-side analysts anticipate that Open Lending will post 0.1 earnings per share for the current year.

Insider Buying and Selling at Open Lending

In other Open Lending news, CEO Jessica E. Buss acquired 12,975 shares of the business's stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $1.93 per share, with a total value of $25,041.75. Following the acquisition, the chief executive officer directly owned 46,446 shares of the company's stock, valued at approximately $89,640.78. This trade represents a 38.76% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Open Lending

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new position in shares of Open Lending in the fourth quarter valued at $54,000. Summit Securities Group LLC purchased a new stake in Open Lending during the 1st quarter valued at $32,000. Ameriprise Financial Inc. purchased a new stake in shares of Open Lending in the 4th quarter worth about $80,000. BNP Paribas Financial Markets purchased a new position in shares of Open Lending during the fourth quarter valued at approximately $87,000. Finally, Teacher Retirement System of Texas purchased a new position in Open Lending in the first quarter worth about $41,000. 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.