Open Lending Co. (NASDAQ:LPRO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Open Lending Co. (NASDAQ:LPRO) have received an average rating of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.39.

LPRO has been the subject of a number of recent research reports. Needham & Company LLC upgraded shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Wednesday, January 29th. Jefferies Financial Group cut shares of Open Lending from a “buy” rating to a “hold” rating and reduced their price objective for the company from $8.00 to $3.70 in a research note on Thursday, March 20th.

Open Lending Stock Up 1.2 %

Shares of NASDAQ LPRO opened at $3.30 on Thursday. Open Lending has a one year low of $2.95 and a one year high of $6.97. The business’s fifty day moving average price is $5.12 and its 200-day moving average price is $5.64. The stock has a market capitalization of $393.86 million, a PE ratio of 110.00 and a beta of 1.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42.

Hedge Funds Weigh In On Open Lending

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd bought a new stake in shares of Open Lending during the 4th quarter worth $25,000. Quantbot Technologies LP purchased a new stake in Open Lending during the fourth quarter valued at about $54,000. Quantinno Capital Management LP bought a new stake in Open Lending during the third quarter worth about $68,000. Ameriprise Financial Inc. purchased a new position in shares of Open Lending in the 4th quarter worth about $80,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Open Lending during the 4th quarter valued at about $87,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

About Open Lending

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, finance companies, and captive finance companies of automakers in the United States. The company offers Lenders Protection Program (LPP), which is a cloud-based automotive lending platform that provides loan analytics solutions and automated issuance of credit default insurance with third-party insurance providers.