Open Lending (NASDAQ:LPRO) Rating Lowered to Sell at Wall Street Zen

by · The Cerbat Gem

Open Lending (NASDAQ:LPRO – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other analysts also recently weighed in on the company. Canaccord Genuity Group restated a “hold” rating and set a $2.00 target price on shares of Open Lending in a research note on Tuesday, March 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Open Lending in a research note on Thursday, January 22nd. Finally, DA Davidson decreased their target price on Open Lending from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.58.

Read Our Latest Stock Analysis on LPRO

Open Lending Stock Performance

Shares of NASDAQ LPRO opened at $1.85 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.44 and a current ratio of 4.44. The firm has a market cap of $217.71 million, a price-to-earnings ratio of -46.25 and a beta of 2.20. The business’s 50-day simple moving average is $1.52 and its 200-day simple moving average is $1.63. Open Lending has a 52 week low of $1.18 and a 52 week high of $2.70.

Open Lending (NASDAQ:LPRO – Get Free Report) last issued 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 expect that Open Lending will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Open Lending

A number of hedge funds have recently modified their holdings of the company. R Squared Ltd lifted its position in shares of Open Lending by 25.6% in the 1st quarter. R Squared Ltd now owns 35,905 shares of the company’s stock worth $45,000 after acquiring an additional 7,315 shares during the period. LB Partners LLC lifted its position in shares of Open Lending by 2.9% in the 1st quarter. LB Partners LLC now owns 5,400,841 shares of the company’s stock worth $6,751,000 after acquiring an additional 150,000 shares during the period. Wasatch Advisors LP lifted its position in shares of Open Lending by 11.3% during the 1st quarter. Wasatch Advisors LP now owns 7,054,107 shares of the company’s stock worth $8,818,000 after buying an additional 716,509 shares during the period. Invesco Ltd. lifted its position in shares of Open Lending by 6.8% during the 4th quarter. Invesco Ltd. now owns 285,148 shares of the company’s stock worth $442,000 after buying an additional 18,118 shares during the period. Finally, Veradace Capital Management LLC bought a new position in shares of Open Lending during the 4th quarter worth approximately $2,372,000. Institutional investors own 78.06% of the company’s stock.

About Open Lending

(Get Free Report)

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.

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