Open Lending (NASDAQ:LPRO) Lowered to “Hold” Rating by Jefferies Financial Group

Jefferies Financial Group downgraded shares of Open Lending (NASDAQ:LPRO) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, Marketbeat reports. The firm currently has $3.70 target price on the stock, down from their previous target price of $8.00.

Separately, Needham & Company LLC upgraded Open Lending from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6.39.

Open Lending Price Performance

LPRO stock opened at $3.26 on Thursday. The stock has a 50-day moving average price of $5.15 and a two-hundred day moving average price of $5.65. The stock has a market cap of $389.08 million, a PE ratio of 108.67 and a beta of 1.25. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. Open Lending has a 1 year low of $2.95 and a 1 year high of $6.97.

Hedge Funds Weigh In On Open Lending

A number of large investors have recently modified their holdings of LPRO. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Open Lending during the 3rd quarter worth about $1,153,000. King Luther Capital Management Corp lifted its stake in 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 purchasing an additional 100,000 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Open Lending in the 3rd quarter valued at about $91,000. Charles Schwab Investment Management Inc. lifted its stake in Open Lending by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 841,913 shares of the company’s stock valued at $5,153,000 after purchasing an additional 31,434 shares during the last quarter. Finally, Algert Global LLC lifted its stake in Open Lending by 2.4% in the 3rd quarter. Algert Global LLC now owns 408,493 shares of the company’s stock valued at $2,500,000 after purchasing an additional 9,580 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.