Open Lending (NASDAQ:LPRO) Earns Equal Weight Rating from Analysts at Stephens

Stephens initiated coverage on shares of Open Lending (NASDAQ:LPRO - Free Report) in a research note published on Thursday morning, Marketbeat Ratings reports. The firm issued an equal weight rating and a $2.50 target price on the stock.

Several other brokerages have also recently issued reports on LPRO. Needham & Company LLC boosted their price target on shares of Open Lending from $2.00 to $2.50 and gave the company a "buy" rating in a research report on Friday, May 9th. Jefferies Financial Group cut shares of Open Lending from a "buy" rating to a "hold" rating and reduced their price target for the company from $8.00 to $3.70 in a research report 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. Finally, DA Davidson reiterated a "buy" rating and set a $4.00 price target on shares of Open Lending in a research report on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $4.12.

Open Lending Trading Down 4.8%

Shares of LPRO stock traded down $0.11 during mid-day trading on Thursday, reaching $2.16. The stock had a trading volume of 1,110,941 shares, compared to its average volume of 1,099,548. The stock's 50-day moving average price is $1.51 and its two-hundred day moving average price is $3.89. Open Lending has a 52-week low of $0.70 and a 52-week high of $6.92. The firm has a market capitalization of $258.73 million, a PE ratio of 72.00 and a beta of 1.94. 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 (NASDAQ:LPRO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.01. Open Lending had a net margin of 4.78% and a return on equity of 2.15%. The firm had revenue of $24.39 million for the quarter, compared to analysts' expectations of $24.78 million. Equities analysts expect that Open Lending will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jessica E. Buss bought 12,975 shares of the company's stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $1.93 per share, for a total transaction of $25,041.75. Following the completion of the purchase, the chief executive officer now owns 46,446 shares in the company, valued at approximately $89,640.78. This represents a 38.76% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Open Lending

A number of institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP grew its holdings in shares of Open Lending by 0.6% during the fourth quarter. Wasatch Advisors LP now owns 16,736,229 shares of the company's stock valued at $99,915,000 after buying an additional 105,449 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Open Lending by 9.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,901,127 shares of the company's stock valued at $38,368,000 after buying an additional 1,245,763 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Open Lending by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 10,178,916 shares of the company's stock valued at $60,768,000 after buying an additional 160,617 shares during the last quarter. Working Capital Advisors UK Ltd. grew its holdings in shares of Open Lending by 6.8% during the first quarter. Working Capital Advisors UK Ltd. now owns 9,753,997 shares of the company's stock valued at $26,921,000 after buying an additional 619,060 shares during the last quarter. Finally, Ethos Financial Group LLC purchased a new stake in shares of Open Lending during the first quarter valued at approximately $8,139,000. Hedge funds and other 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.