Open Lending (NASDAQ:LPRO) Upgraded to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Open Lending to a “sell” rating, while the broader analyst consensus remains “Hold,” with one Buy, four Hold, and one Sell rating and an average price target of $2.77.
• Open Lending shares opened at $3.15, near their 12-month high, after rising above their 50-day and 200-day moving averages. The company has a $370.1 million market capitalization and a negative price-to-earnings ratio.
• In its latest quarter, Open Lending reported revenue of $20.49 million, slightly above estimates, but earnings per share of $0.00 missed expectations by $0.01; institutional investors own 78.06% of the stock.

Open Lending (NASDAQ:LPRO - Get Free Report) was upgraded by equities researchers at Wall Street Zen to a "sell" rating in a research report issued on Saturday.

Several other equities research analysts have also weighed in on the stock. Northland Securities set a $3.15 price objective on shares of Open Lending in a research note on Wednesday, June 17th. DA Davidson restated a "neutral" rating and issued a $3.15 target price (up from $3.00) on shares of Open Lending in a research note on Friday, June 26th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Open Lending in a report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Open Lending presently has an average rating of "Hold" and a consensus price target of $2.77.

Open Lending Stock Performance

Open Lending stock opened at $3.15 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.44 and a quick ratio of 4.44. Open Lending has a 12 month low of $1.17 and a 12 month high of $3.15. The company has a fifty day moving average price of $2.83 and a two-hundred day moving average price of $2.04. The company has a market cap of $370.10 million, a PE ratio of -78.62 and a beta of 2.19.

Open Lending (NASDAQ:LPRO - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.00) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.01). Open Lending had a positive return on equity of 7.53% and a negative net margin of 5.95%.The business had revenue of $20.49 million for the quarter, compared to analyst estimates of $20.41 million. Research analysts expect that Open Lending will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Open Lending

Several institutional investors have recently modified their holdings of the company. Wasatch Advisors LP lifted its position in Open Lending by 11.3% in the 1st quarter. Wasatch Advisors LP now owns 7,054,107 shares of the company's stock valued at $8,818,000 after purchasing an additional 716,509 shares during the last quarter. Whetstone Capital Advisors LLC grew its position in Open Lending by 34.0% in the 4th quarter. Whetstone Capital Advisors LLC now owns 6,014,667 shares of the company's stock worth $9,323,000 after purchasing an additional 1,525,926 shares during the last quarter. LB Partners LLC increased its stake in shares of Open Lending by 2.9% in the first quarter. LB Partners LLC now owns 5,400,841 shares of the company's stock valued at $6,751,000 after purchasing an additional 150,000 shares during the period. Cannell Capital LLC increased its stake in shares of Open Lending by 87.1% in the second quarter. Cannell Capital LLC now owns 3,596,490 shares of the company's stock valued at $6,977,000 after purchasing an additional 1,674,646 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Open Lending by 4.0% during the second quarter. Geode Capital Management LLC now owns 2,564,948 shares of the company's stock valued at $4,977,000 after buying an additional 98,515 shares during the last quarter. Institutional investors own 78.06% of the company's stock.

About Open Lending

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company's solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.

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