Open Lending (NASDAQ:LPRO) Rating Lowered to “Hold” at Northland Securities

Open Lending (NASDAQ:LPRO) was downgraded by stock analysts at Northland Securities from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Open Lending in a research report on Tuesday, June 9th. Canaccord Genuity Group reiterated a “hold” rating and set a $2.00 target price on shares of Open Lending in a research report on Tuesday, March 17th. DA Davidson reduced their target price on Open Lending from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Finally, Wall Street Zen downgraded Open Lending from a “hold” rating to a “sell” rating in a research report on Sunday. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.60.

Open Lending Stock Up 48.1%

LPRO opened at $3.11 on Tuesday. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.00. The firm has a market cap of $365.98 million, a P/E ratio of -77.75 and a beta of 2.28. Open Lending has a 52 week low of $1.17 and a 52 week high of $3.13. The business’s fifty day simple moving average is $1.90 and its 200 day simple moving average is $1.71.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.00 EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). Open Lending had a negative net margin of 5.95% and a positive return on equity of 7.53%. The company had revenue of $20.49 million for the quarter, compared to analyst estimates of $20.41 million. As a group, equities research analysts anticipate that Open Lending will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Open Lending

A number of large investors have recently modified their holdings of the company. R Squared Ltd raised its holdings in shares of Open Lending by 32.7% in the 4th quarter. R Squared Ltd now owns 28,590 shares of the company’s stock worth $44,000 after purchasing an additional 7,047 shares during the period. Rhumbline Advisers raised its holdings in shares of Open Lending by 6.4% in the 2nd quarter. Rhumbline Advisers now owns 159,855 shares of the company’s stock worth $310,000 after purchasing an additional 9,590 shares during the period. Savant Capital LLC raised its holdings in shares of Open Lending by 16.1% in the 3rd 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 raised its holdings 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 worth $65,000 after purchasing an additional 10,812 shares during the period. Finally, Barclays PLC raised its holdings in shares of Open Lending by 9.0% in the 4th quarter. Barclays PLC now owns 157,383 shares of the company’s stock worth $244,000 after purchasing an additional 12,963 shares during the period. 78.06% of the stock is currently owned by hedge funds and other 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.