Open Lending (NASDAQ:LPRO) Stock Price Down 4.2% – Time to Sell?

Shares of Open Lending Co. (NASDAQ:LPRO) were down 4.2% on Thursday . The stock traded as low as $5.93 and last traded at $5.94. Approximately 38,540 shares were traded during trading, a decline of 91% from the average daily volume of 414,246 shares. The stock had previously closed at $6.20.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.83.

Open Lending Stock Down 5.3 %

The stock has a market cap of $700.58 million, a PE ratio of 195.67, a P/E/G ratio of 2.46 and a beta of 1.16. The business has a 50 day moving average of $6.04 and a 200-day moving average of $5.91. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new position in shares of Open Lending during the second quarter worth about $33,000. Blue Trust Inc. grew its stake in shares of Open Lending by 208.2% in the 3rd quarter. Blue Trust Inc. now owns 10,500 shares of the company’s stock valued at $59,000 after purchasing an additional 7,093 shares during the last quarter. Quantinno Capital Management LP purchased a new position in shares of Open Lending in the 3rd quarter valued at approximately $68,000. SlateStone Wealth LLC acquired a new position in shares of Open Lending in the second quarter valued at approximately $70,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Open Lending during the third quarter worth approximately $91,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.