Open Lending (NASDAQ:LPRO) Trading Up 5.3%

Open Lending Co. (NASDAQ:LPRO) shares traded up 5.3% during mid-day trading on Tuesday . The company traded as high as $5.84 and last traded at $5.80. 43,607 shares were traded during mid-day trading, a decline of 90% from the average session volume of 442,277 shares. The stock had previously closed at $5.51.

Wall Street Analyst Weigh In

Several research analysts have commented on LPRO shares. Needham & Company LLC lowered shares of Open Lending from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Morgan Stanley dropped their price target on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. JMP Securities reduced their price objective on shares of Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. BTIG Research began coverage on Open Lending in a research report on Friday, June 7th. They set a “neutral” rating for the company. Finally, DA Davidson cut their target price on Open Lending from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.56.

Open Lending Trading Up 6.5 %

The company has a 50-day moving average price of $5.71 and a 200 day moving average price of $5.89. The company has a current ratio of 13.32, a quick ratio of 13.32 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $699.50 million, a P/E ratio of 53.27 and a beta of 1.12.

Open Lending (NASDAQ:LPRO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The firm had revenue of $26.73 million during the quarter, compared to analysts’ expectations of $31.03 million. Open Lending had a return on equity of 2.90% and a net margin of 6.25%. The firm’s quarterly revenue was down 29.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. On average, research analysts forecast that Open Lending Co. will post 0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Open Lending

A number of institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its stake in shares of Open Lending by 15.9% in the 4th quarter. Russell Investments Group Ltd. now owns 15,273 shares of the company’s stock worth $130,000 after acquiring an additional 2,090 shares during the last quarter. Victory Capital Management Inc. raised its stake in Open Lending by 27.3% during the fourth quarter. Victory Capital Management Inc. now owns 13,848 shares of the company’s stock worth $118,000 after purchasing an additional 2,971 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Open Lending by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 776,264 shares of the company’s stock valued at $6,606,000 after purchasing an additional 9,957 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Open Lending by 29.7% in the 4th quarter. Principal Financial Group Inc. now owns 52,488 shares of the company’s stock valued at $447,000 after buying an additional 12,021 shares during the period. Finally, Trexquant Investment LP increased its holdings in shares of Open Lending by 77.0% during the 4th quarter. Trexquant Investment LP now owns 77,280 shares of the company’s stock worth $658,000 after buying an additional 33,625 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

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. 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.