Open Lending Co. (NASDAQ:LPRO) Receives Consensus “Buy” Rating from Brokers
Shares of Open Lending Co. (NASDAQ:LPRO) received a consensus “buy” recommendation from the twelve analysts who currently cover the stock, Marketbeat reports. One analyst rated the stock with a sell recommendation, three gave the company a hold recommendation, five gave the company a buy recommendation and one gave the company a strong buy recommendation. The 1-year average price target among brokerages that have covered the stock over the past year is $37.56.
LPRO has been the subject of several recent analyst reports. Needham & Company LLC reduced its price target on Open Lending from $53.00 to $40.00 and set a “buy” rating on the stock in a Wednesday, November 10 research note. Morgan Stanley cut its price target on Open Lending from $29.00 to $18.00 and set an “equal weight” rating on the stock in a Thursday, Jan. 27 research note. JMP Securities cut its price target on Open Lending from $40.00 to $37.00 and set a “market outperformance” rating on the stock in a Wednesday, Nov. 10 research note. Zacks Investment Research reduced the Open Lending from a “hold” rating to a “strong sell” rating in a Thursday, Dec. 9 research note. Finally, Raymond James reduced his price target on Open Lending from $44.00 to $30.00 and set a “Strong Buy” rating on the stock in a Tuesday, January 11 research note.
Separately, insider Charles D. Jehl purchased 3,400 shares in a trade dated Friday, November 12. The shares were purchased at an average cost of $29.30 per share, with a total value of $99,620.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. Also, insider John Joseph Flynn sold 30,000 shares of the company in a transaction that took place on Tuesday, November 9. The shares were sold at an average price of $33.68, for a total value of $1,010,400.00. Disclosure of this sale can be found here. 25.96% of the shares are currently held by company insiders.
A number of hedge funds have recently changed their LPRO holdings. Advisor Group Holdings Inc. increased its holdings in Open Lending by 234.0% in Q4. Advisor Group Holdings Inc. now owns 1,590 shares of the company worth $36,000 after buying 1,114 additional shares in the last quarter. FORA Capital LLC bought a new position in Open Lending in Q2 worth approximately $99,000. PNC Financial Services Group Inc. increased its holdings in Open Lending by 97.3% in Q3. PNC Financial Services Group Inc. now owns 3,300 shares of the company worth $119,000 after buying 1,627 additional shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Open Lending by 1,278.3% in Q3. First Horizon Advisors Inc. now owns 1,654 shares of the company worth $136,000 after purchasing an additional 1,534 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Open Lending in Q2 worth approximately $211,000. 80.02% of the shares are held by institutional investors and hedge funds.
Shares of LPRO opened at $18.06 on Friday. The stock’s 50-day moving average is $21.13 and its two-hundred-day moving average is $30.22. The stock has a market capitalization of $2.28 billion, a PE ratio of 30.61 and a beta of 0.42. Open Lending has a 12 month minimum of $15.93 and a 12 month maximum of $44.00. The company has a debt ratio of 1.13, a current ratio of 9.71 and a quick ratio of 9.71.
Open Lending (NASDAQ:LPRO) last released its quarterly earnings data on Tuesday, November 9. The company reported EPS of $0.23 for the quarter, beating the Zacks consensus estimate of $0.20 by $0.03. The company posted revenue of $58.89 million for the quarter, compared to $54.88 million expected by analysts. Open Lending had a return on equity of 51.25% and a net margin of 36.64%. In the same quarter a year earlier, the company posted earnings per share of $0.10. On average, research analysts expect Open Lending to post 0.76 earnings per share for the current year.
About Open Loan
Open Lending Corp. provides lending and risk analysis services to credit unions, regional banks and captive finance companies of original equipment manufacturers (OEM captives). It specializes in risk-based pricing and modeling and provides automated decision technology to auto lenders across the United States.
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