Open Lending Co. (NASDAQ:LPRO – Free Report) – Equities researchers at Northland Capmk lowered their FY2023 earnings per share (EPS) estimates for Open Lending in a research report issued on Wednesday, August 9th. Northland Capmk analyst M. Grondahl now expects that the company will post earnings per share of $0.34 for the year, down from their prior forecast of $0.35. The consensus estimate for Open Lending’s current full-year earnings is $0.37 per share.
A number of other brokerages have also recently issued reports on LPRO. Raymond James upped their target price on shares of Open Lending from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday. JMP Securities dropped their price objective on Open Lending from $12.00 to $11.00 and set a “market outperform” rating on the stock in a research note on Wednesday. William Blair reiterated an “outperform” rating on shares of Open Lending in a research note on Wednesday, May 10th. BTIG Research assumed coverage on Open Lending in a research note on Tuesday, June 13th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley raised their price target on Open Lending from $5.00 to $6.00 in a report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.63.
Read Our Latest Stock Analysis on Open Lending
Open Lending Stock Performance
LPRO stock traded up $0.07 during trading hours on Friday, reaching $8.26. The stock had a trading volume of 20,035 shares, compared to its average volume of 796,417. The stock has a 50-day simple moving average of $10.58 and a 200 day simple moving average of $8.86. Open Lending has a fifty-two week low of $5.35 and a fifty-two week high of $11.99. The stock has a market capitalization of $996.57 million, a PE ratio of 23.40 and a beta of 0.76. The company has a debt-to-equity ratio of 0.69, a current ratio of 16.24 and a quick ratio of 16.24.
Open Lending (NASDAQ:LPRO – Get Free Report) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $38.15 million during the quarter, compared to the consensus estimate of $35.60 million. Open Lending had a return on equity of 20.37% and a net margin of 28.73%. The firm’s revenue for the quarter was down 26.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC increased its holdings in Open Lending by 3.2% in the 4th quarter. Jennison Associates LLC now owns 1,338,574 shares of the company’s stock valued at $9,035,000 after buying an additional 40,917 shares during the period. Raymond James Trust N.A. increased its stake in Open Lending by 51.2% in the fourth quarter. Raymond James Trust N.A. now owns 78,411 shares of the company’s stock valued at $529,000 after acquiring an additional 26,556 shares during the last quarter. Foyston Gordon & Payne Inc acquired a new position in Open Lending during the fourth quarter valued at approximately $114,000. Brainard Capital Management LLC bought a new stake in Open Lending during the fourth quarter worth $1,082,000. Finally, TrinityPoint Wealth LLC acquired a new stake in shares of Open Lending in the 4th quarter valued at $71,000. Institutional investors and hedge funds own 90.79% of the company’s stock.
Insider Activity at Open Lending
In related news, Director Shubhi Suryaji Rao sold 4,350 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $10.83, for a total value of $47,110.50. Following the transaction, the director now directly owns 8,189 shares in the company, valued at $88,686.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Shubhi Suryaji Rao sold 4,350 shares of the business’s 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 sale, the director now directly owns 8,189 shares in the company, valued at $88,686.87. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John Joseph Flynn sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $10.34, for a total value of $517,000.00. Following the sale, the director now directly owns 2,629,666 shares in the company, valued at approximately $27,190,746.44. The disclosure for this sale can be found here. Insiders sold 204,350 shares of company stock worth $2,141,111 in the last ninety days. 18.30% of the stock is owned by company insiders.
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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