Open Lending (NASDAQ:LPRO) Shares Down 5.1% – Here’s Why

Open Lending Co. (NASDAQ:LPRO)’s share price was down 5.1% during trading on Friday . The company traded as low as $6.02 and last traded at $6.05. Approximately 212,112 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 360,305 shares. The stock had previously closed at $6.37.

Analyst Ratings Changes

Separately, Needham & Company LLC raised 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.83.

Open Lending Stock Performance

The company has a market cap of $722.07 million, a PE ratio of 201.67 and a beta of 1.16. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $5.79 and a 200-day moving average of $5.82.

Open Lending (NASDAQ:LPRO) last announced its earnings results on Thursday, November 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). The company had revenue of $23.48 million for the quarter, compared to analysts’ expectations of $29.46 million. Open Lending had a net margin of 4.78% and a return on equity of 2.15%. During the same period in the previous year, the firm earned $0.02 EPS. As a group, analysts anticipate that Open Lending Co. will post 0.1 earnings per share for the current year.

Institutional Trading of Open Lending

Hedge funds have recently bought and sold shares of the business. Barclays PLC raised its stake in shares of Open Lending by 363.5% in 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 raised its stake in shares of Open Lending by 152.1% in the third quarter. Royce & Associates LP now owns 481,640 shares of the company’s stock valued at $2,948,000 after buying an additional 290,602 shares during the period. State Street Corp raised its stake in shares of Open Lending by 2.6% in the third quarter. State Street Corp now owns 2,545,783 shares of the company’s stock valued at $15,580,000 after buying an additional 63,450 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Open Lending in the third quarter valued at $1,153,000. Finally, King Luther Capital Management Corp raised its stake 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 valued at $1,224,000 after buying an additional 100,000 shares during the period. 78.06% of the stock is currently owned by institutional investors.

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.