Open Lending (NASDAQ:LPRO) Now Covered by Analysts at Citizens Jmp

Citizens Jmp began coverage on shares of Open Lending (NASDAQ:LPRO - Free Report) in a research report released on Friday morning, MarketBeat Ratings reports. The firm issued a market perform rating on the stock.

LPRO has been the topic of a number of other research reports. Needham & Company LLC reduced their price target on Open Lending from $7.00 to $2.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Jefferies Financial Group cut shares of Open Lending from a "buy" rating to a "hold" rating and dropped their target price for the company from $8.00 to $3.70 in a research report on Thursday, March 20th. Finally, DA Davidson reduced their price target on shares of Open Lending from $8.00 to $4.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $4.62.

Open Lending Stock Performance

Shares of NASDAQ:LPRO traded up $0.11 on Friday, hitting $1.05. The company had a trading volume of 3,990,388 shares, compared to its average volume of 696,121. The stock has a market cap of $124.72 million, a price-to-earnings ratio of 34.83 and a beta of 1.57. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending has a 1-year low of $0.90 and a 1-year high of $6.97. The stock has a 50 day moving average price of $4.29 and a 200 day moving average price of $5.32.

Open Lending (NASDAQ:LPRO - Get Free Report) last announced its earnings results on Monday, March 31st. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($1.23). Open Lending had a net margin of 4.78% and a return on equity of 2.15%. The business had revenue of $24.23 million during the quarter, compared to the consensus estimate of $24.03 million. During the same period in the previous year, the firm posted ($0.04) EPS. Analysts expect that Open Lending will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Open Lending during the 4th quarter worth about $4,326,000. Barclays PLC lifted its stake in Open Lending by 363.5% in the third quarter. Barclays PLC now owns 169,024 shares of the company's stock valued at $1,034,000 after buying an additional 132,561 shares during the period. Royce & Associates LP boosted its holdings in shares of Open Lending by 61.3% during the 4th quarter. Royce & Associates LP now owns 777,035 shares of the company's stock worth $4,639,000 after buying an additional 295,395 shares in the last quarter. State Street Corp grew its position in shares of Open Lending by 2.6% during the 3rd quarter. State Street Corp now owns 2,545,783 shares of the company's stock worth $15,580,000 after buying an additional 63,450 shares during the period. Finally, Rhumbline Advisers increased its stake in Open Lending by 3.7% in the fourth quarter. Rhumbline Advisers now owns 146,101 shares of the company's stock valued at $872,000 after purchasing an additional 5,149 shares in the last quarter. Institutional investors own 78.06% of the company's stock.

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.