Open Lending (NASDAQ:LPRO – Get Rating) had its price objective lowered by Canaccord Genuity Group from $55.00 to $30.00 in a report released on Friday, Benzinga reports. The firm currently has a buy rating on the stock.
Other equities research analysts have also recently issued reports about the company. JMP Securities cut their target price on Open Lending from $28.00 to $17.00 and set a market outperform rating on the stock in a research note on Wednesday, July 13th. William Blair reissued an outperform rating on shares of Open Lending in a research note on Friday, May 6th. Stephens cut Open Lending from an overweight rating to an equal weight rating and cut their target price for the stock from $22.00 to $13.00 in a research note on Friday. Morgan Stanley cut Open Lending from an equal weight rating to an underweight rating and cut their target price for the stock from $14.00 to $8.00 in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Open Lending from $18.00 to $16.00 in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $21.63.
Open Lending Price Performance
LPRO opened at $10.91 on Friday. The stock has a fifty day simple moving average of $10.90 and a two-hundred day simple moving average of $14.83. The company has a current ratio of 17.78, a quick ratio of 17.78 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 30.31 and a beta of 0.66. Open Lending has a 12-month low of $9.12 and a 12-month high of $42.96.
Institutional Trading of Open Lending
Several large investors have recently added to or reduced their stakes in LPRO. Lazard Asset Management LLC purchased a new stake in Open Lending during the fourth quarter valued at approximately $28,000. Point72 Hong Kong Ltd purchased a new stake in Open Lending during the first quarter valued at approximately $41,000. Nisa Investment Advisors LLC increased its holdings in Open Lending by 182.5% during the first quarter. Nisa Investment Advisors LLC now owns 2,260 shares of the company’s stock valued at $43,000 after buying an additional 1,460 shares during the last quarter. Carl Stuart Investment Advisor Inc. purchased a new stake in Open Lending during the first quarter valued at approximately $56,000. Finally, PNC Financial Services Group Inc. increased its holdings in Open Lending by 51.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,665 shares of the company’s stock valued at $89,000 after buying an additional 1,591 shares during the last quarter. 86.85% of the stock is currently owned by institutional investors.
About Open Lending
Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, and non-bank auto finance companies and captive finance companies of original equipment manufacturers in the United States. It offers Lenders Protection Program (LPP), which is a Software as a Service platform that facilitates loan decision making and automated underwriting by third-party lenders and the issuance of credit default insurance through third-party insurance providers.
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