Open Lending Sees Unusually High Options Volume (NASDAQ:LPRO)

Open Lending Co. (NASDAQ:LPRO) was the target of some unusual options trading activity on Monday. Stock investors purchased 5,288 call options on the company. This represents an increase of approximately 2,418% compared to the average volume of 210 call options.

Wall Street Analyst Weigh In

A number of research firms recently commented on LPRO. Needham & Company LLC upgraded 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. Jefferies Financial Group lowered Open Lending from a “buy” rating to a “hold” rating and decreased their target price for the stock from $8.00 to $3.70 in a research report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.12.

Hedge Funds Weigh In On Open Lending

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

Open Lending Price Performance

LPRO opened at $1.17 on Wednesday. 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’s 50-day moving average price is $4.82 and its 200 day moving average price is $5.52. Open Lending has a fifty-two week low of $1.15 and a fifty-two week high of $6.97. The firm has a market cap of $139.64 million, a price-to-earnings ratio of 39.00 and a beta of 1.25.

Open Lending (NASDAQ:LPRO) last announced its quarterly earnings results on Monday, March 31st. The company reported ($1.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($1.23). Open Lending had a return on equity of 2.15% and a net margin of 4.78%. The company had revenue of $24.23 million for the quarter, compared to analyst estimates of $24.03 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. As a group, sell-side analysts expect that Open Lending will post 0.1 earnings per share for the current year.

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.