Open Lending Corporation (NASDAQ:LPRO) Receives Consensus Recommendation of “Reduce” from Brokerages

Open Lending Corporation (NASDAQ:LPRO) has earned an average recommendation of “Reduce” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $2.7667.

LPRO has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Open Lending to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of Open Lending in a research report on Tuesday, June 9th. Northland Securities set a $3.15 price target on Open Lending in a research note on Wednesday, June 17th. Finally, DA Davidson restated a “neutral” rating and issued a $3.15 price objective (up from $3.00) on shares of Open Lending in a report on Friday, June 26th.

Open Lending Price Performance

LPRO stock opened at $3.14 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.44 and a quick ratio of 4.44. The company’s 50 day simple moving average is $2.92 and its 200-day simple moving average is $2.07. Open Lending has a 12 month low of $1.17 and a 12 month high of $3.15. The firm has a market capitalization of $369.50 million, a PE ratio of -78.50 and a beta of 2.19.

Open Lending (NASDAQ:LPRO) last announced its 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 company had revenue of $20.49 million for the quarter, compared to analyst estimates of $20.41 million. Open Lending had a negative net margin of 5.95% and a positive return on equity of 7.53%. Equities analysts expect that Open Lending will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Open Lending

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Open Lending by 84.0% during the first quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock worth $65,000 after buying an additional 10,812 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Open Lending during the 1st quarter valued at $43,000. Caxton Associates LLP acquired a new position in Open Lending during the 1st quarter worth $54,000. Jane Street Group LLC grew its holdings in 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 in the last quarter. Finally, Geode Capital Management LLC grew its holdings in 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 in 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.