Analysts Set Open Lending Co. (NASDAQ:LPRO) PT at $6.83

Shares of Open Lending Co. (NASDAQ:LPRO) have been given an average rating of “Moderate Buy” by the seven research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $6.83.

Separately, Needham & Company LLC raised shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Wednesday, January 29th.

Hedge Funds Weigh In On Open Lending

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its position in Open Lending by 363.5% during the third quarter. Barclays PLC now owns 169,024 shares of the company’s stock valued at $1,034,000 after buying an additional 132,561 shares during the period. Royce & Associates LP boosted its holdings in Open Lending by 152.1% during the 3rd quarter. Royce & Associates LP now owns 481,640 shares of the company’s stock valued at $2,948,000 after acquiring an additional 290,602 shares during the period. State Street Corp grew its position in Open Lending by 2.6% during the 3rd quarter. State Street Corp now owns 2,545,783 shares of the company’s stock worth $15,580,000 after acquiring an additional 63,450 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Open Lending during the third quarter valued at approximately $1,153,000. Finally, King Luther Capital Management Corp grew its holdings in shares of Open Lending by 100.0% in the third quarter. King Luther Capital Management Corp now owns 200,000 shares of the company’s stock worth $1,224,000 after purchasing an additional 100,000 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Open Lending Stock Down 2.2 %

Shares of NASDAQ LPRO opened at $4.93 on Friday. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $5.64 and a 200-day moving average of $5.80. The firm has a market capitalization of $588.40 million, a price-to-earnings ratio of 164.33 and a beta of 1.16. Open Lending has a 12 month low of $4.57 and a 12 month high of $7.69.

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.