Open Lending (NASDAQ:LPRO) Lowered to Hold Rating by DA Davidson

Open Lending (NASDAQ:LPRO) was downgraded by analysts at DA Davidson from a “strong-buy” rating to a “hold” rating in a report issued on Friday,Zacks.com reports.

Several other equities analysts have also recently issued reports on LPRO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Open Lending in a research report on Tuesday, June 9th. Wall Street Zen lowered Open Lending from a “hold” rating to a “sell” rating in a report on Sunday, June 14th. Canaccord Genuity Group restated a “hold” rating and issued a $2.00 price target on shares of Open Lending in a research note on Tuesday, March 17th. Finally, Northland Securities set a $3.15 price target on Open Lending in a report on Wednesday, June 17th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.77.

Open Lending Stock Performance

Shares of NASDAQ LPRO opened at $3.12 on Friday. The firm’s 50 day moving average price is $2.16 and its 200-day moving average price is $1.78. The company has a market cap of $367.16 million, a PE ratio of -78.00 and a beta of 2.28. Open Lending has a 52-week low of $1.17 and a 52-week high of $3.13. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.44 and a current ratio of 4.44.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.00) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The firm had revenue of $20.49 million for the quarter, compared to analysts’ expectations of $20.41 million. Open Lending had a negative net margin of 5.95% and a positive return on equity of 7.53%. On average, equities research analysts expect that Open Lending will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Open Lending

A number of institutional investors and hedge funds have recently made changes to their positions in LPRO. AQR Capital Management LLC grew its position in Open Lending by 84.0% during the first quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock valued at $65,000 after buying an additional 10,812 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Open Lending in the first quarter worth approximately $43,000. Caxton Associates LLP bought a new position in Open Lending in the first quarter worth approximately $54,000. Jane Street Group LLC boosted its stake in shares of Open Lending by 2,751.6% during the 1st quarter. Jane Street Group LLC now owns 430,391 shares of the company’s stock worth $1,188,000 after acquiring an additional 415,298 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Open Lending by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,564,948 shares of the company’s stock worth $4,977,000 after acquiring an additional 98,515 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 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.