Open Lending’s (LPRO) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Open Lending (NASDAQ:LPROFree Report) in a research note issued to investors on Wednesday morning, Benzinga reports.

LPRO has been the topic of a number of other reports. BTIG Research assumed coverage on shares of Open Lending in a research report on Friday, June 7th. They set a neutral rating on the stock. JMP Securities lowered their price objective on shares of Open Lending from $8.00 to $7.00 and set a market outperform rating on the stock in a research report on Friday, August 9th. Morgan Stanley dropped their price objective on shares of Open Lending from $6.00 to $5.00 and set an equal weight rating on the stock in a research note on Friday, August 9th. Finally, DA Davidson decreased their target price on shares of Open Lending from $9.00 to $8.00 and set a buy rating for the company in a research note on Monday, August 12th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $6.56.

Read Our Latest Stock Analysis on LPRO

Open Lending Price Performance

Shares of LPRO opened at $5.88 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 13.32 and a quick ratio of 13.32. Open Lending has a 1-year low of $4.57 and a 1-year high of $8.70. The stock has a market cap of $700.69 million, a PE ratio of 53.45 and a beta of 1.12. The firm has a fifty day moving average price of $5.70 and a 200 day moving average price of $5.82.

Open Lending (NASDAQ:LPROGet Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). The firm had revenue of $26.73 million during the quarter, compared to analysts’ expectations of $31.03 million. Open Lending had a net margin of 6.25% and a return on equity of 2.90%. The firm’s revenue for the quarter was down 29.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 earnings per share. As a group, sell-side analysts anticipate that Open Lending will post 0.18 EPS for the current year.

Institutional Trading of Open Lending

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cannell Capital LLC lifted its position in Open Lending by 55.4% in the fourth quarter. Cannell Capital LLC now owns 2,646,831 shares of the company’s stock valued at $22,525,000 after purchasing an additional 943,429 shares during the period. Working Capital Advisors UK Ltd. raised its stake in shares of Open Lending by 10.2% during the 4th quarter. Working Capital Advisors UK Ltd. now owns 7,088,535 shares of the company’s stock worth $60,323,000 after buying an additional 658,240 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of Open Lending by 3.5% in the 1st quarter. Wasatch Advisors LP now owns 16,094,115 shares of the company’s stock valued at $100,749,000 after buying an additional 546,166 shares during the period. EVR Research LP purchased a new stake in shares of Open Lending in the second quarter valued at approximately $2,758,000. Finally, G2 Investment Partners Management LLC acquired a new position in Open Lending during the fourth quarter worth $1,702,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

About Open Lending

(Get Free Report)

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, finance companies, and captive finance companies of automakers in the United States. The company offers Lenders Protection Program (LPP), which is a cloud-based automotive lending platform that provides loan analytics solutions and automated issuance of credit default insurance with third-party insurance providers.

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