Shares of Open Lending Co. (NASDAQ:LPRO – Get Free Report) have earned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $10.63.
Several brokerages recently issued reports on LPRO. BTIG Research initiated coverage on Open Lending in a research note on Tuesday, June 13th. They set a “neutral” rating on the stock. William Blair restated an “outperform” rating on shares of Open Lending in a report on Wednesday, May 10th. Canaccord Genuity Group restated a “buy” rating and set a $20.00 price target on shares of Open Lending in a report on Monday, August 14th. Morgan Stanley raised their price target on Open Lending from $5.00 to $6.00 in a report on Thursday, May 11th. Finally, Raymond James raised their price target on Open Lending from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, August 10th.
View Our Latest Report on Open Lending
Open Lending Stock Up 0.2 %
NASDAQ LPRO opened at $8.27 on Friday. The stock’s 50-day moving average price is $9.87 and its 200-day moving average price is $8.80. The company has a quick ratio of 15.83, a current ratio of 15.83 and a debt-to-equity ratio of 0.65. Open Lending has a 52 week low of $5.35 and a 52 week high of $11.99. The company has a market capitalization of $998.19 million, a P/E ratio of 23.63 and a beta of 0.76.
Open Lending (NASDAQ:LPRO – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Open Lending had a return on equity of 20.33% and a net margin of 28.73%. The firm had revenue of $38.15 million for the quarter, compared to the consensus estimate of $35.60 million. During the same quarter last year, the company earned $0.18 earnings per share. The business’s revenue for the quarter was down 26.7% compared to the same quarter last year. On average, equities research analysts predict that Open Lending will post 0.35 earnings per share for the current year.
Insider Buying and Selling at Open Lending
In other Open Lending news, Director Shubhi Suryaji Rao sold 4,350 shares of Open Lending stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $10.83, for a total transaction of $47,110.50. Following the completion of the sale, the director now directly owns 8,189 shares of the company’s stock, valued at approximately $88,686.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Shubhi Suryaji Rao sold 4,350 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $10.83, for a total value of $47,110.50. Following the completion of the transaction, the director now directly owns 8,189 shares of the company’s stock, valued at approximately $88,686.87. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Joseph Flynn sold 50,000 shares of the business’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $10.03, for a total value of $501,500.00. Following the completion of the transaction, the director now directly owns 2,579,666 shares of the company’s stock, valued at $25,874,049.98. The disclosure for this sale can be found here. Insiders sold a total of 304,350 shares of company stock valued at $2,978,111 in the last ninety days. Corporate insiders own 17.10% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Arizona State Retirement System raised its stake in Open Lending by 3.8% in the fourth quarter. Arizona State Retirement System now owns 30,275 shares of the company’s stock valued at $204,000 after buying an additional 1,120 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Open Lending by 1.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 72,657 shares of the company’s stock valued at $764,000 after buying an additional 1,256 shares during the last quarter. Prudential Financial Inc. raised its stake in Open Lending by 10.2% in the second quarter. Prudential Financial Inc. now owns 13,986 shares of the company’s stock valued at $143,000 after buying an additional 1,300 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Open Lending by 51.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,665 shares of the company’s stock valued at $89,000 after buying an additional 1,591 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Open Lending by 14.6% in the second quarter. Envestnet Asset Management Inc. now owns 14,993 shares of the company’s stock valued at $153,000 after buying an additional 1,913 shares during the last quarter. 88.87% of the stock is owned by 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. It 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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