Open Lending Corporation (NASDAQ:LPRO) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Open Lending Corporation (NASDAQ:LPRO - Get Free Report) have earned a consensus rating of "Hold" from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $4.12.

A number of research analysts have weighed in on LPRO shares. Citizens Jmp started 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 reiterated a "buy" rating and issued a $4.00 price objective on shares of Open Lending in a report on Wednesday, April 16th. Stephens initiated coverage on shares of Open Lending in a report on Thursday, June 12th. They issued an "equal weight" rating and a $2.50 price objective on the stock. Finally, Needham & Company LLC lifted their price objective on shares of Open Lending from $2.00 to $2.50 and gave the company a "buy" rating in a report on Friday, May 9th.

Insiders Place Their Bets

In other news, CEO Jessica E. Buss bought 12,975 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $1.93 per share, for a total transaction of $25,041.75. Following the completion of the acquisition, the chief executive officer owned 46,446 shares in the company, valued at approximately $89,640.78. This represents a 38.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 13.20% of the company's stock.

Hedge Funds Weigh In On Open Lending

Institutional investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in Open Lending during the first quarter worth $32,000. Blair William & Co. IL bought a new position in Open Lending during the second quarter worth $39,000. Ballentine Partners LLC bought a new position in Open Lending during the second quarter worth $40,000. Teacher Retirement System of Texas bought a new position in Open Lending during the first quarter worth $41,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Open Lending during the first quarter worth $43,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

Open Lending Trading Up 2.3%

Open Lending stock traded up $0.06 during midday trading on Wednesday, hitting $2.64. 446,162 shares of the stock were exchanged, compared to its average volume of 1,041,015. The company has a fifty day simple moving average of $2.15 and a two-hundred day simple moving average of $3.05. Open Lending has a 52 week low of $0.70 and a 52 week high of $6.92. The stock has a market capitalization of $316.22 million, a PE ratio of -2.26 and a beta of 1.93. The company has a quick ratio of 6.21, a current ratio of 6.21 and a debt-to-equity ratio of 1.63.

Open Lending (NASDAQ:LPRO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates of $0.01. The company had revenue of $24.39 million during the quarter, compared to the consensus estimate of $24.78 million. Equities research analysts anticipate that Open Lending will post 0.1 EPS for the current fiscal year.

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.