Open Lending (NASDAQ:LPRO) Releases Earnings Results, Misses Expectations By $0.01 EPS

Open Lending (NASDAQ:LPRO) released its quarterly earnings data on Thursday. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01), FiscalAI reports. The company had revenue of $19.35 million during the quarter, compared to analysts’ expectations of $21.92 million.

Open Lending Trading Down 9.0%

LPRO traded down $0.12 during trading on Thursday, hitting $1.21. The company’s stock had a trading volume of 866,120 shares, compared to its average volume of 575,048. Open Lending has a twelve month low of $0.70 and a twelve month high of $4.48. The stock has a market cap of $143.01 million, a PE ratio of -0.97 and a beta of 2.05. The firm’s 50 day moving average price is $1.66 and its 200-day moving average price is $1.81. The company has a debt-to-equity ratio of 1.74, a current ratio of 5.59 and a quick ratio of 5.59.

Institutional Investors Weigh In On Open Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. lifted its position in Open Lending by 6.8% during the fourth quarter. Invesco Ltd. now owns 285,148 shares of the company’s stock worth $442,000 after buying an additional 18,118 shares during the period. Veradace Capital Management LLC purchased a new stake in Open Lending in the 4th quarter valued at about $2,372,000. SkyView Investment Advisors LLC grew its holdings in Open Lending by 25.5% in the 4th quarter. SkyView Investment Advisors LLC now owns 150,422 shares of the company’s stock valued at $233,000 after buying an additional 30,523 shares during the period. Quadrature Capital Ltd increased its stake in shares of Open Lending by 223.5% during the 4th quarter. Quadrature Capital Ltd now owns 65,376 shares of the company’s stock valued at $101,000 after acquiring an additional 45,166 shares during the last quarter. Finally, Man Group plc lifted its holdings in shares of Open Lending by 6.3% during the 4th quarter. Man Group plc now owns 237,313 shares of the company’s stock worth $368,000 after acquiring an additional 14,011 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on LPRO shares. Citigroup reissued a “market perform” rating on shares of Open Lending in a report on Wednesday, November 12th. Canaccord Genuity Group decreased their price objective on Open Lending from $7.00 to $2.00 and set a “hold” rating on the stock in a research note on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Open Lending presently has an average rating of “Hold” and a consensus target price of $2.92.

About Open Lending

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.