Open Lending (NASDAQ:LPRO) Downgraded by Jefferies Financial Group to Hold

Open Lending (NASDAQ:LPRO) was downgraded by equities research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report issued on Thursday, Marketbeat reports. They presently have a $3.70 target price on the stock, down from their previous target price of $8.00. Jefferies Financial Group’s target price would indicate a potential upside of 3.64% from the company’s previous close.

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

Open Lending Stock Up 2.6 %

Shares of LPRO stock opened at $3.57 on Thursday. Open Lending has a 1 year low of $3.15 and a 1 year high of $7.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42. The business’s fifty day moving average is $5.24 and its 200-day moving average is $5.69. The stock has a market cap of $426.08 million, a PE ratio of 119.00 and a beta of 1.25.

Institutional Investors Weigh In On Open Lending

Several hedge funds and other institutional investors have recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Open Lending in the 3rd quarter valued at approximately $1,153,000. King Luther Capital Management Corp grew 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 worth $1,224,000 after acquiring an additional 100,000 shares during the last quarter. Intech Investment Management LLC bought a new position in Open Lending during the third quarter worth $91,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Open Lending by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 841,913 shares of the company’s stock worth $5,153,000 after purchasing an additional 31,434 shares during the period. Finally, Algert Global LLC grew its position in Open Lending by 2.4% during the third quarter. Algert Global LLC now owns 408,493 shares of the company’s stock worth $2,500,000 after buying an additional 9,580 shares in the last quarter. 78.06% of the stock is 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.