Open Lending (NASDAQ:LPRO) Receives “Hold” Rating from Canaccord Genuity Group

Open Lending (NASDAQ:LPRO)‘s stock had its “hold” rating restated by analysts at Canaccord Genuity Group in a report issued on Tuesday,Benzinga reports. They currently have a $2.00 target price on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 23.84% from the company’s current price.

A number of other equities research analysts have also commented on the stock. DA Davidson decreased their price objective on shares of Open Lending from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Open Lending has an average rating of “Hold” and an average price target of $2.75.

Open Lending Stock Performance

Shares of LPRO opened at $1.62 on Tuesday. Open Lending has a one year low of $0.70 and a one year high of $4.33. The company has a 50-day moving average of $1.64 and a two-hundred day moving average of $1.80. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.52 and a quick ratio of 4.52. The stock has a market cap of $190.88 million, a price-to-earnings ratio of -49.87 and a beta of 2.05.

Open Lending (NASDAQ:LPRO) last issued its earnings results on Thursday, March 12th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Open Lending had a negative net margin of 4.54% and a positive return on equity of 8.83%. The company had revenue of $19.35 million for the quarter, compared to analyst estimates of $21.92 million. On average, equities research analysts expect that Open Lending will post 0.1 earnings per share for the current year.

Institutional Trading of Open Lending

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

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.