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

Raymond James restated their outperform rating on shares of Open Lending (NASDAQ:LPRO) in a report published on Tuesday morning, Benzinga reports. The firm currently has a $8.00 price objective on the stock.

LPRO has been the subject of several other research reports. JMP Securities restated a market outperform rating and set a $8.00 price target on shares of Open Lending in a research report on Tuesday. Canaccord Genuity Group reduced their price objective on shares of Open Lending from $7.50 to $7.00 and set a hold rating for the company in a report on Tuesday. Morgan Stanley raised shares of 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 report on Tuesday, February 6th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $8.00 price objective on shares of Open Lending in a report on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $7.07.

Open Lending Stock Up 1.1 %

Open Lending stock opened at $6.26 on Tuesday. The company has a 50-day simple moving average of $7.32 and a 200-day simple moving average of $7.12. The firm has a market capitalization of $744.19 million, a P/E ratio of 36.82 and a beta of 1.01. 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 one year low of $4.89 and a one year high of $11.99.

Open Lending (NASDAQ:LPRO) last released its quarterly 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 for the quarter, compared to the consensus estimate of $27.55 million. Open Lending had a return on equity of 10.45% and a net margin of 18.79%. The firm’s revenue was down 44.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) EPS. As a group, equities analysts expect that Open Lending will post 0.28 earnings per share for the current year.

Insider Buying and Selling at Open Lending

In other Open Lending news, Director John Joseph Flynn sold 50,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $7.60, for a total value of $380,000.00. Following the completion of the sale, the director now directly owns 2,129,666 shares of the company’s stock, valued at approximately $16,185,461.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 200,000 shares of company stock valued at $1,501,500. 18.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Open Lending

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wasatch Advisors Inc. lifted its holdings in Open Lending by 3.8% in the 1st quarter. Wasatch Advisors Inc. now owns 16,690,164 shares of the company’s stock valued at $315,611,000 after acquiring an additional 603,411 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Open Lending by 11.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,297,740 shares of the company’s stock valued at $86,577,000 after acquiring an additional 1,272,366 shares during the last quarter. Vanguard Group Inc. raised its holdings in Open Lending by 9.3% during the 1st quarter. Vanguard Group Inc. now owns 9,887,343 shares of the company’s stock worth $186,970,000 after buying an additional 838,752 shares during the period. BlackRock Inc. raised its holdings in Open Lending by 11.9% during the 3rd quarter. BlackRock Inc. now owns 7,609,797 shares of the company’s stock worth $61,182,000 after buying an additional 807,200 shares during the period. Finally, Working Capital Advisors UK Ltd. raised its holdings in Open Lending by 10.2% during the 4th quarter. Working Capital Advisors UK Ltd. now owns 7,088,535 shares of the company’s stock worth $60,323,000 after buying an additional 658,240 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.

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.