Open Lending Corporation (NASDAQ:LPRO) Receives $4.12 Consensus PT from Analysts

Shares of Open Lending Corporation (NASDAQ:LPRO - Get Free Report) have been assigned an average rating of "Hold" from the seven brokerages that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $4.12.

Several research analysts have commented on the stock. Needham & Company LLC raised their target price on shares of Open Lending from $2.00 to $2.50 and gave the stock a "buy" rating in a report on Friday, May 9th. Jefferies Financial Group lowered shares of Open Lending from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $8.00 to $3.70 in a research note on Thursday, March 20th. Citizens Jmp initiated coverage on shares of Open Lending in a research report on Friday, April 4th. They set a "market perform" rating on the stock. DA Davidson reissued a "buy" rating and set a $4.00 target price on shares of Open Lending in a research note on Wednesday, April 16th. Finally, Stephens began coverage on Open Lending in a research report on Thursday, June 12th. They issued an "equal weight" rating and a $2.50 target price for the company.

Open Lending Price Performance

Open Lending stock traded up $0.04 during mid-day trading on Friday, hitting $1.98. The company's stock had a trading volume of 767,916 shares, compared to its average volume of 1,132,426. The stock has a market capitalization of $237.16 million, a P/E ratio of -1.69 and a beta of 1.93. Open Lending has a twelve month low of $0.70 and a twelve month high of $6.92. The stock's fifty day moving average price is $1.83 and its two-hundred day moving average price is $3.48. 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 issued its earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. The company had revenue of $24.39 million during the quarter, compared to analyst estimates of $24.78 million. Research analysts forecast that Open Lending will post 0.1 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jessica E. Buss bought 12,975 shares of the business's stock in a transaction on Monday, May 12th. The stock was bought at an average price of $1.93 per share, for a total transaction of $25,041.75. Following the transaction, the chief executive officer directly owned 46,446 shares in the company, valued at $89,640.78. This represents a 38.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.00% of the company's stock.

Hedge Funds Weigh In On Open Lending

Several institutional investors and hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC purchased a new stake in shares of Open Lending during the first quarter worth $32,000. Teacher Retirement System of Texas acquired a new position in Open Lending in the 1st quarter worth about $41,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Open Lending during the 1st quarter worth about $43,000. Quantbot Technologies LP purchased a new stake in shares of Open Lending during the 4th quarter worth about $54,000. Finally, Caxton Associates LLP acquired a new stake in shares of Open Lending during the 1st quarter valued at about $54,000. 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.