Open Lending (NASDAQ:LPRO) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of Open Lending (NASDAQ:LPRO) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

LPRO has been the subject of several other research reports. Canaccord Genuity Group reissued a “hold” rating and set a $2.00 price target on shares of Open Lending in a report on Tuesday, March 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a report on Thursday, January 22nd. Finally, DA Davidson cut their price target on Open Lending from $4.00 to $3.00 and set a “buy” rating for the company in a report on Monday, March 16th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Open Lending presently has an average rating of “Hold” and a consensus price target of $2.58.

Open Lending Stock Up 1.1%

Open Lending stock opened at $1.85 on Friday. The firm has a market cap of $217.71 million, a price-to-earnings ratio of -46.25 and a beta of 2.20. The stock has a fifty day simple moving average of $1.52 and a two-hundred day simple moving average of $1.64. Open Lending has a 12 month low of $1.18 and a 12 month high of $2.70. The company has a current ratio of 4.44, a quick ratio of 4.52 and a debt-to-equity ratio of 1.00.

Open Lending (NASDAQ:LPRO) last posted 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). Open Lending had a positive return on equity of 7.53% and a negative net margin of 5.95%.The business had revenue of $20.49 million during the quarter, compared to the consensus estimate of $20.41 million. Equities analysts predict that Open Lending will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Open Lending

A number of hedge funds have recently made changes to their positions in the company. R Squared Ltd lifted its position in shares of Open Lending by 25.6% in the first quarter. R Squared Ltd now owns 35,905 shares of the company’s stock worth $45,000 after buying an additional 7,315 shares in the last quarter. LB Partners LLC lifted its position in shares of Open Lending by 2.9% in the first quarter. LB Partners LLC now owns 5,400,841 shares of the company’s stock worth $6,751,000 after buying an additional 150,000 shares in the last quarter. Wasatch Advisors LP increased its stake in Open Lending by 11.3% during the first quarter. Wasatch Advisors LP now owns 7,054,107 shares of the company’s stock worth $8,818,000 after acquiring an additional 716,509 shares during the last quarter. Invesco Ltd. increased its stake 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 acquiring an additional 18,118 shares during the last quarter. Finally, Veradace Capital Management LLC bought a new stake in Open Lending during the fourth quarter worth approximately $2,372,000. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

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.