Open Lending Co. (NASDAQ:LPRO) Receives $6.83 Consensus Price Target from Brokerages

Shares of Open Lending Co. (NASDAQ:LPRO) have received a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $6.39.

LPRO has been the topic of several recent analyst reports. Jefferies Financial Group cut Open Lending from a “buy” rating to a “hold” rating and cut their target price for the stock from $8.00 to $3.70 in a research note on Thursday, March 20th. Needham & Company LLC upgraded Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Wednesday, January 29th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Open Lending in the third quarter worth $1,153,000. King Luther Capital Management Corp boosted its holdings in shares of Open Lending by 100.0% during the 3rd quarter. King Luther Capital Management Corp now owns 200,000 shares of the company’s stock valued at $1,224,000 after buying an additional 100,000 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Open Lending in the 3rd quarter worth about $91,000. Charles Schwab Investment Management Inc. increased its stake in shares of Open Lending by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 841,913 shares of the company’s stock worth $5,153,000 after acquiring an additional 31,434 shares in the last quarter. Finally, Algert Global LLC lifted its position in Open Lending by 2.4% during the 3rd quarter. Algert Global LLC now owns 408,493 shares of the company’s stock valued at $2,500,000 after acquiring an additional 9,580 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Price Performance

LPRO opened at $3.30 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. Open Lending has a 1 year low of $2.95 and a 1 year high of $6.97. The stock’s 50 day simple moving average is $5.12 and its 200 day simple moving average is $5.64. The firm has a market cap of $393.86 million, a price-to-earnings ratio of 110.00 and a beta of 1.25.

Open Lending Company Profile

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.