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

Key Points

• Open Lending Corporation (NASDAQ:LPRO) has received a consensus recommendation of "Moderate Buy" from analysts, with an average 1-year price target of $3.10.
• The company reported earnings of $0.01 EPS for the last quarter, missing estimates but exceeding revenue expectations at $25.31 million.
• Hedge funds hold 78.06% of Open Lending's stock, indicating strong interest from institutional investors in the company's performance.

Shares of Open Lending Corporation (NASDAQ:LPRO - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six ratings firms that are covering the stock, MarketBeat 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 price target among analysts that have issued ratings on the stock in the last year is $3.10.

Several research firms have issued reports on LPRO. Raymond James Financial reissued an "outperform" rating and set a $2.80 target price (up previously from $2.50) on shares of Open Lending in a research note on Thursday, August 7th. Stephens initiated coverage on shares of Open Lending in a research note on Thursday, June 12th. They set an "equal weight" rating and a $2.50 target price for the company.

Open Lending Stock Performance

NASDAQ LPRO opened at $2.14 on Thursday. Open Lending has a 1-year low of $0.70 and a 1-year high of $6.92. The company has a debt-to-equity ratio of 1.63, a current ratio of 5.67 and a quick ratio of 5.67. The stock's 50 day simple moving average is $2.27 and its 200-day simple moving average is $2.28. The company has a market cap of $252.88 million, a PE ratio of -1.81 and a beta of 1.83.

Open Lending (NASDAQ:LPRO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share (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. As a group, equities research analysts anticipate that Open Lending will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Open Lending

Hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Open Lending by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 149,098 shares of the company's stock worth $890,000 after purchasing an additional 5,264 shares during the period. Quantinno Capital Management LP grew its holdings in shares of Open Lending by 69.2% in the fourth quarter. Quantinno Capital Management LP now owns 18,736 shares of the company's stock valued at $112,000 after purchasing an additional 7,664 shares in the last quarter. ProShare Advisors LLC increased its stake in Open Lending by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 28,777 shares of the company's stock worth $172,000 after buying an additional 9,468 shares during the period. Rhumbline Advisers lifted its holdings in Open Lending by 6.4% during the 2nd quarter. Rhumbline Advisers now owns 159,855 shares of the company's stock worth $310,000 after buying an additional 9,590 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in Open Lending by 10.9% in the 1st quarter. Federated Hermes Inc. now owns 108,024 shares of the company's stock valued at $298,000 after buying an additional 10,645 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.

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