Open Lending’s (LPRO) “Hold” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of Open Lending (NASDAQ:LPRO) in a report released on Tuesday morning,Benzinga reports. They currently have a $2.00 price objective on the stock.

Other analysts have also recently issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Open Lending in a research report on Thursday, January 22nd. DA Davidson reduced their price objective on Open Lending from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.56.

Open Lending Trading Down 3.5%

NASDAQ LPRO opened at $1.39 on Tuesday. The firm’s fifty day moving average price is $1.63 and its 200 day moving average price is $1.79. Open Lending has a 12 month low of $0.70 and a 12 month high of $3.43. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.52 and a quick ratio of 4.52. The company has a market capitalization of $164.28 million, a price-to-earnings ratio of -46.33 and a beta of 2.05.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings data on Thursday, March 12th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $19.35 million during the quarter, compared to analyst estimates of $21.92 million. Open Lending had a negative net margin of 4.54% and a positive return on equity of 8.83%. On average, sell-side analysts expect that Open Lending will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Open Lending

Several hedge funds have recently made changes to their positions in the business. R Squared Ltd grew its holdings in shares of Open Lending by 32.7% during the fourth quarter. R Squared Ltd now owns 28,590 shares of the company’s stock worth $44,000 after buying an additional 7,047 shares during the last quarter. Rhumbline Advisers raised its stake in Open Lending by 6.4% during the 2nd quarter. Rhumbline Advisers now owns 159,855 shares of the company’s stock valued at $310,000 after acquiring an additional 9,590 shares during the last quarter. Savant Capital LLC lifted its position in Open Lending by 16.1% during the 3rd quarter. Savant Capital LLC now owns 75,223 shares of the company’s stock worth $159,000 after acquiring an additional 10,452 shares during the period. AQR Capital Management LLC grew its stake in shares of Open Lending by 84.0% in the 1st quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock valued at $65,000 after purchasing an additional 10,812 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Open Lending by 9.0% in the 4th quarter. Barclays PLC now owns 157,383 shares of the company’s stock valued at $244,000 after purchasing an additional 12,963 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

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.