Open Lending Co. (NASDAQ:LPRO – Get Free Report) has earned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $10.38.
LPRO has been the topic of a number of research reports. Morgan Stanley upped their target price on shares of Open Lending from $5.00 to $6.00 in a research report on Thursday, May 11th. BTIG Research initiated coverage on shares of Open Lending in a research report on Tuesday, June 13th. They set a “neutral” rating on the stock. JMP Securities upped their target price on shares of Open Lending from $10.00 to $12.00 and gave the company a “market outperform” rating in a research report on Friday, July 14th. William Blair restated an “outperform” rating on shares of Open Lending in a research report on Wednesday, May 10th. Finally, TheStreet upgraded shares of Open Lending from a “d” rating to a “c” rating in a research report on Monday, June 12th.
Read Our Latest Analysis on Open Lending
Insider Transactions at Open Lending
In other Open Lending news, Director Shubhi Suryaji Rao sold 4,350 shares of the firm’s 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 owns 8,189 shares of the company’s stock, valued at approximately $88,686.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John Joseph Flynn sold 50,000 shares of the business’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $10.03, for a total transaction of $501,500.00. Following the sale, the director now directly owns 2,579,666 shares in the company, valued at $25,874,049.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Shubhi Suryaji Rao sold 4,350 shares of Open Lending stock in a transaction that occurred 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 in the company, valued at $88,686.87. The disclosure for this sale can be found here. Insiders sold 154,350 shares of company stock valued at $1,626,111 in the last ninety days. 18.30% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Open Lending
Institutional investors have recently modified their holdings of the company. Jennison Associates LLC increased its position in shares of Open Lending by 3.2% during the 4th quarter. Jennison Associates LLC now owns 1,338,574 shares of the company’s stock valued at $9,035,000 after purchasing an additional 40,917 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of Open Lending by 51.2% in the 4th quarter. Raymond James Trust N.A. now owns 78,411 shares of the company’s stock worth $529,000 after purchasing an additional 26,556 shares in the last quarter. Foyston Gordon & Payne Inc purchased a new stake in shares of Open Lending in the 4th quarter worth $114,000. Brainard Capital Management LLC purchased a new stake in Open Lending in the 4th quarter worth $1,082,000. Finally, TrinityPoint Wealth LLC purchased a new stake in Open Lending in the 4th quarter worth $71,000. 90.79% of the stock is owned by institutional investors and hedge funds.
Open Lending Price Performance
Shares of Open Lending stock opened at $10.25 on Wednesday. The firm has a fifty day simple moving average of $10.67 and a 200-day simple moving average of $8.86. The company has a current ratio of 16.24, a quick ratio of 16.24 and a debt-to-equity ratio of 0.69. Open Lending has a 1-year low of $5.35 and a 1-year high of $11.99. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 23.30 and a beta of 0.76.
Open Lending (NASDAQ:LPRO – Get Free Report) last released its earnings results on Tuesday, May 9th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. Open Lending had a net margin of 33.36% and a return on equity of 26.08%. The firm had revenue of $38.36 million during the quarter, compared to analysts’ expectations of $32.19 million. During the same period in the prior year, the company earned $0.18 EPS. The business’s quarterly revenue was down 23.4% compared to the same quarter last year. On average, sell-side analysts expect that Open Lending will post 0.37 earnings per share for the current year.
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. 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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