Open Lending Corporation (NASDAQ:LPRO) Given Average Recommendation of “Hold” by Brokerages

Shares of Open Lending Corporation (NASDAQ:LPRO) have received an average rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $2.9167.

LPRO has been the topic of a number of recent research reports. DA Davidson reaffirmed a “buy” rating and set a $4.00 price objective on shares of Open Lending in a research report on Tuesday, November 11th. Citigroup reiterated a “market perform” rating on shares of Open Lending in a research note on Wednesday, November 12th. Canaccord Genuity Group lowered their target price on shares of Open Lending from $7.00 to $2.00 and set a “hold” rating for the company in a research note on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Open Lending in a research report on Thursday, January 22nd.

Hedge Funds Weigh In On Open Lending

Several hedge funds have recently modified their holdings of LPRO. Invesco Ltd. grew its position in Open Lending by 6.8% during the 4th quarter. Invesco Ltd. now owns 285,148 shares of the company’s stock worth $442,000 after purchasing an additional 18,118 shares during the last quarter. Veradace Capital Management LLC acquired a new stake in Open Lending during the 4th quarter worth about $2,372,000. SkyView Investment Advisors LLC lifted its position in Open Lending by 25.5% during the 4th quarter. SkyView Investment Advisors LLC now owns 150,422 shares of the company’s stock worth $233,000 after acquiring an additional 30,523 shares during the period. Quadrature Capital Ltd grew its stake in 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 purchasing an additional 45,166 shares during the last quarter. Finally, Man Group plc grew its stake in Open Lending by 6.3% during the 4th quarter. Man Group plc now owns 237,313 shares of the company’s stock valued at $368,000 after purchasing an additional 14,011 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Stock Performance

Shares of NASDAQ:LPRO opened at $1.37 on Thursday. The firm has a 50 day moving average of $1.66 and a 200 day moving average of $1.82. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $161.92 million, a price-to-earnings ratio of -1.10 and a beta of 2.05. Open Lending has a 52 week low of $0.70 and a 52 week high of $4.79.

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.