Northland Capmk Forecasts Reduced Earnings for Open Lending

Open Lending Co. (NASDAQ:LPRO) – Equities researchers at Northland Capmk decreased their FY2024 earnings per share (EPS) estimates for Open Lending in a research note issued to investors on Friday, November 8th. Northland Capmk analyst M. Grondahl now anticipates that the company will post earnings of $0.11 per share for the year, down from their previous forecast of $0.19. The consensus estimate for Open Lending’s current full-year earnings is $0.13 per share. Northland Capmk also issued estimates for Open Lending’s Q4 2024 earnings at $0.03 EPS, Q1 2025 earnings at $0.05 EPS, Q3 2025 earnings at $0.08 EPS and FY2025 earnings at $0.26 EPS.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. DA Davidson decreased their price objective on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd. Finally, JMP Securities cut their price objective on Open Lending from $8.00 to $7.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.83.

Open Lending Price Performance

Shares of Open Lending stock opened at $6.37 on Monday. The stock has a 50 day moving average price of $5.82 and a 200-day moving average price of $5.85. Open Lending has a one year low of $4.57 and a one year high of $8.70. The stock has a market cap of $759.03 million, a price-to-earnings ratio of 212.17 and a beta of 1.13. The company has a debt-to-equity ratio of 0.63, a quick ratio of 13.32 and a current ratio of 13.32.

Hedge Funds Weigh In On Open Lending

Several institutional investors have recently made changes to their positions in LPRO. Intech Investment Management LLC purchased a new stake in Open Lending in the third quarter worth about $91,000. King Luther Capital Management Corp increased its holdings in shares of Open Lending by 100.0% in the 3rd quarter. King Luther Capital Management Corp now owns 200,000 shares of the company’s stock valued at $1,224,000 after acquiring an additional 100,000 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Open Lending in the 3rd quarter worth $1,153,000. Gilbert & Cook Inc. bought a new stake in Open Lending during the third quarter valued at about $205,000. Finally, Royce & Associates LP grew its stake in 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 purchasing an additional 290,602 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Company Profile

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.