Brokerages Set Open Lending Co. (NASDAQ:LPRO) Target Price at $6.83

Open Lending Co. (NASDAQ:LPRO) has earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $6.83.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Open Lending in a research note on Wednesday, October 2nd.

Institutional Investors Weigh In On Open Lending

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC grew its holdings in 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 purchasing an additional 132,561 shares during the period. Geode Capital Management LLC raised its holdings in shares of Open Lending by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,365,266 shares of the company’s stock worth $14,478,000 after acquiring an additional 68,721 shares during the period. Main Management ETF Advisors LLC purchased a new position in Open Lending during the third quarter worth about $845,000. State Street Corp lifted its holdings in 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 acquiring an additional 63,450 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Open Lending in the 3rd quarter valued at $68,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Price Performance

Shares of NASDAQ:LPRO opened at $5.72 on Friday. Open Lending has a twelve month low of $4.57 and a twelve month high of $8.70. 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 company has a market cap of $682.68 million, a PE ratio of 190.67, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16. The company’s 50 day moving average is $6.04 and its 200 day moving average is $5.89.

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.