Open Lending’s (LPRO) Outperform Rating Reaffirmed at Raymond James

Raymond James reiterated their outperform rating on shares of Open Lending (NASDAQ:LPRO) in a research report released on Tuesday, Benzinga reports. They currently have a $8.00 price objective on the stock.

Several other equities research analysts have also recently commented on LPRO. Needham & Company LLC restated a buy rating and issued a $8.00 target price on shares of Open Lending in a research note on Wednesday, February 28th. JMP Securities reiterated a market outperform rating and set a $8.00 price objective on shares of Open Lending in a research note on Tuesday. Canaccord Genuity Group dropped their price objective on Open Lending from $7.50 to $7.00 and set a hold rating on the stock in a research note on Tuesday. Finally, Morgan Stanley upgraded Open Lending from an underweight rating to an equal weight rating and upped their price objective for the stock from $4.00 to $7.00 in a research note on Tuesday, February 6th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $7.07.

Open Lending Trading Up 1.1 %

NASDAQ LPRO opened at $6.26 on Tuesday. The stock has a market capitalization of $744.19 million, a price-to-earnings ratio of 36.82 and a beta of 1.01. The stock’s 50 day moving average price is $7.32 and its two-hundred day moving average price is $7.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 14.08 and a current ratio of 14.08. Open Lending has a 52 week low of $4.89 and a 52 week high of $11.99.

Open Lending (NASDAQ:LPRO) last released its earnings results on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $14.90 million during the quarter, compared to the consensus estimate of $27.55 million. Open Lending had a net margin of 18.79% and a return on equity of 10.45%. The company’s revenue was down 44.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) EPS. As a group, analysts anticipate that Open Lending will post 0.28 earnings per share for the current fiscal year.

Insider Activity at Open Lending

In related news, Director John Joseph Flynn sold 50,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $7.60, for a total value of $380,000.00. Following the sale, the director now owns 2,129,666 shares in the company, valued at approximately $16,185,461.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 200,000 shares of company stock worth $1,501,500. Company insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Open Lending

Large investors have recently added to or reduced their stakes in the business. Algert Global LLC raised its stake in Open Lending by 271.3% in the 3rd quarter. Algert Global LLC now owns 339,719 shares of the company’s stock valued at $2,487,000 after acquiring an additional 248,223 shares during the period. Kestra Advisory Services LLC acquired a new position in Open Lending in the 3rd quarter valued at $1,454,000. Raymond James Trust N.A. grew its holdings in Open Lending by 3.4% in the 4th quarter. Raymond James Trust N.A. now owns 107,314 shares of the company’s stock valued at $913,000 after buying an additional 3,556 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Open Lending in the 3rd quarter valued at $84,000. Finally, Cannell Capital LLC grew its holdings in Open Lending by 74.4% in the 3rd quarter. Cannell Capital LLC now owns 1,703,402 shares of the company’s stock valued at $12,469,000 after buying an additional 726,472 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

About Open Lending

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.