Open Lending (NASDAQ:LPRO) Shares Down 4.7% – Time to Sell?

Open Lending Corporation (NASDAQ:LPRO) dropped 4.7% during trading on Friday . The stock traded as low as $1.58 and last traded at $1.61. Approximately 1,158,493 shares were traded during trading, an increase of 154% from the average daily volume of 455,269 shares. The stock had previously closed at $1.69.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LPRO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Open Lending in a report on Wednesday, October 8th. Canaccord Genuity Group dropped their price objective on shares of Open Lending from $7.00 to $2.00 and set a “hold” rating on the stock in a research report on Thursday, November 13th. DA Davidson reaffirmed a “buy” rating and set a $4.00 target price on shares of Open Lending in a report on Tuesday, November 11th. Finally, Citigroup reissued a “market perform” rating on shares of Open Lending in a report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.92.

Open Lending Stock Performance

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 stock’s 50-day moving average price is $1.76 and its 200-day moving average price is $2.04. The company has a market cap of $190.29 million, a P/E ratio of -1.29 and a beta of 2.04.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $24.17 million for the quarter, compared to the consensus estimate of $22.15 million. Equities analysts anticipate that Open Lending Corporation will post 0.1 EPS for the current year.

Insider Buying and Selling at Open Lending

In other Open Lending news, insider Matthew Sather purchased 40,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was bought at an average cost of $1.52 per share, for a total transaction of $60,800.00. Following the completion of the transaction, the insider owned 44,363 shares in the company, valued at approximately $67,431.76. This represents a 916.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Open Lending

Hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd lifted its position in shares of Open Lending by 49.3% during the 3rd quarter. R Squared Ltd now owns 21,543 shares of the company’s stock valued at $45,000 after acquiring an additional 7,111 shares during the period. Rhumbline Advisers raised its stake in Open Lending by 6.4% in the second quarter. Rhumbline Advisers now owns 159,855 shares of the company’s stock valued at $310,000 after purchasing an additional 9,590 shares in the last quarter. Savant Capital LLC lifted its position in Open Lending by 16.1% during the third quarter. Savant Capital LLC now owns 75,223 shares of the company’s stock worth $159,000 after purchasing an additional 10,452 shares during the period. AQR Capital Management LLC lifted its position in Open Lending by 84.0% during the first quarter. AQR Capital Management LLC now owns 23,683 shares of the company’s stock worth $65,000 after purchasing an additional 10,812 shares during the period. Finally, Gilbert & Cook Inc. grew its stake in Open Lending by 38.8% during the second quarter. Gilbert & Cook Inc. now owns 46,396 shares of the company’s stock worth $90,000 after buying an additional 12,975 shares in the last quarter. Institutional investors 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.