Analysts Set Open Lending Corporation (NASDAQ:LPRO) Price Target at $2.92

Shares of Open Lending Corporation (NASDAQ:LPRO) have earned an average rating of “Hold” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $2.9167.

A number of brokerages recently commented on LPRO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Open Lending in a research note on Thursday, January 22nd. Canaccord Genuity Group dropped their target price on shares of Open Lending from $7.00 to $2.00 and set a “hold” rating for the company in a research report on Thursday, November 13th. Citigroup reaffirmed a “market perform” rating on shares of Open Lending in a research note on Wednesday, November 12th. Finally, DA Davidson reiterated a “buy” rating and set a $4.00 price target on shares of Open Lending in a research report on Tuesday, November 11th.

Open Lending Trading Down 4.5%

LPRO opened at $1.60 on Friday. Open Lending has a one year low of $0.70 and a one year high of $6.15. The company has a debt-to-equity ratio of 1.74, a current ratio of 5.59 and a quick ratio of 5.59. The business has a 50 day simple moving average of $1.79 and a two-hundred day simple moving average of $1.93. The firm has a market capitalization of $188.51 million, a price-to-earnings ratio of -1.28 and a beta of 2.03.

Insider Buying and Selling at Open Lending

In other news, insider Matthew Sather bought 40,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was purchased at an average price of $1.52 per share, with a total value of $60,800.00. Following the transaction, the insider owned 44,363 shares of the company’s stock, valued at approximately $67,431.76. The trade was a 916.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On Open Lending

Several hedge funds have recently made changes to their positions in LPRO. Ethos Financial Group LLC lifted its position in Open Lending by 21.0% during the second quarter. Ethos Financial Group LLC now owns 3,567,723 shares of the company’s stock valued at $6,921,000 after buying an additional 618,952 shares during the period. LB Partners LLC purchased a new stake in Open Lending in the second quarter worth about $9,799,000. Palogic Value Management L.P. increased its stake in shares of Open Lending by 440.0% during the second quarter. Palogic Value Management L.P. now owns 5,900,000 shares of the company’s stock valued at $11,446,000 after purchasing an additional 4,807,323 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Open Lending during the second quarter valued at approximately $136,000. Finally, Truist Financial Corp purchased a new position in shares of Open Lending during the second quarter valued at approximately $194,000. 78.06% of the stock is currently owned by institutional investors.

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.