Open Lending Co. (NASDAQ: LPRO) Receives Average “Buy” Rating from Analysts
Open Lending Co. (NASDAQ: LPRO) has received a consensus rating of “Buy” from the twelve analysts who cover the company, reports Marketbeat Ratings. One research analyst rated the stock with a sell recommendation, three gave a hold recommendation, six gave a buy recommendation, and one gave a strong buy recommendation on the company. The average one-year target price among analysts who issued ratings on the stock in the past year is $ 41.00.
LPRO has been the subject of several recent analyst reports. TheStreet downgraded Open Lending stocks from a “c-” rating to a “d +” rating in a Friday, November 19 research note. Morgan Stanley reduced its target price on Open Lending stocks from $ 40.00 to $ 29.00 and set an “equal weight” rating on the stock in a research note on Friday, November 12. Raymond James reduced his target price on Open Lending stocks from $ 52.00 to $ 44.00 and set a “strong buy” rating on the stock in a research note on Thursday, November 11. JMP Securities reduced its target price on Open Lending stocks from $ 40.00 to $ 37.00 and set a “market outperformance” rating on the stock in a Wednesday, November 10 research note. Finally, DA Davidson lowered its target price on Open Lending stocks from $ 50.00 to $ 46.00 and set a “buy” rating on the stock in a research note on Friday, November 12.
Separately, insider Ross M. Jessup sold 10,000 shares of the company in a trade dated Friday, October 1. The shares were sold at an average price of $ 35.26, for a total trade of $ 352,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible through this link. In addition, insider John Joseph Flynn sold 30,000 shares of the company in a transaction dated Thursday, November 18. The shares were sold at an average price of $ 28.32, for a total trade of $ 849,600.00. Disclosure of this sale can be found here. Insiders have sold 165,250 shares of the company valued at $ 5,609,013 in the past 90 days. Company insiders own 25.96% of the company’s shares.
Several institutional investors and hedge funds have recently changed their positions in the company. Ameriprise Financial Inc. increased its position in Open Lending by 20.2% in the first quarter. Ameriprise Financial Inc. now owns 27,426 shares of the company valued at $ 971,000 after purchasing an additional 4,613 shares in the last quarter. Morgan Stanley increased its position in Open Lending by 72.9% in the first quarter. Morgan Stanley now owns 61,775 shares of the company valued at $ 2,188,000 after purchasing an additional 26,055 shares in the last quarter. Alliancebernstein LP acquired a new position in Open Lending in the second quarter valued at approximately $ 5,494,000. Capital Advisors Inc. OK acquired a new position in Open Lending in the second quarter valued at approximately $ 217,000. Finally, the New York State Common Retirement Fund increased its position in Open Lending by 77.8% in the second quarter. The New York State Pooled Retirement Fund now owns 204,288 shares of the company worth $ 8,803,000 after purchasing an additional 89,400 shares in the last quarter. 80.95% of the shares are held by institutional investors and hedge funds.
LPRO opened at $ 21.46 on Friday. The company has a market cap of $ 2.71 billion, a price-to-earnings ratio of 36.37 and a beta of 0.34. The company has a debt to equity ratio of 1.13, a current ratio of 9.71 and a rapid ratio of 9.71. Open Lending has a one year minimum at $ 20.61 and a one year maximum at $ 44.00. The company has a 50-day moving average price of $ 28.71 and a 200-day moving average price of $ 35.12.
Open Lending (NASDAQ: LPRO) last released its quarterly results on Tuesday, November 9. The company reported earnings per share (EPS) of $ 0.23 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.20 of $ 0.03. The company posted revenue of $ 58.89 million for the quarter, compared to $ 54.88 million expected by analysts. Open Lending recorded a return on equity of 51.25% and a net margin of 36.64%. In the same quarter of the previous year, the company made a profit of $ 0.10 per share. Stock analysts expect Open Lending to post 0.76 EPS for the current fiscal year.
Open Loan Company Profile
Open Lending Corp. provides loan activation and risk analysis to credit unions, regional banks, and 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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