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

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.com reports. They presently have a $3.70 price objective on the stock, down from their previous price objective of $8.00. Jefferies Financial Group’s price objective would suggest 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 for the company in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Open Lending has a consensus rating of “Moderate Buy” and a consensus price target of $6.39.

Open Lending Stock Performance

NASDAQ LPRO opened at $3.57 on Thursday. The company has a 50 day moving average of $5.24 and a 200-day moving average of $5.69. 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 $3.15 and a 1-year high of $7.49. The firm has a market cap of $426.08 million, a price-to-earnings ratio of 119.00 and a beta of 1.25.

Hedge Funds Weigh In On Open Lending

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in shares of Open Lending by 1.5% in the 4th quarter. Invesco Ltd. now owns 157,318 shares of the company’s stock valued at $939,000 after purchasing an additional 2,287 shares during the period. LPL Financial LLC raised its position in Open Lending by 4.2% in the 4th quarter. LPL Financial LLC now owns 82,461 shares of the company’s stock valued at $492,000 after buying an additional 3,309 shares during the last quarter. Federated Hermes Inc. lifted its stake in Open Lending by 4.3% in the 4th quarter. Federated Hermes Inc. now owns 97,379 shares of the company’s stock valued at $581,000 after acquiring an additional 4,059 shares in the last quarter. R Squared Ltd acquired a new position in Open Lending during the 4th quarter worth approximately $25,000. Finally, Two Sigma Securities LLC grew its stake in shares of Open Lending by 26.9% during the 4th quarter. Two Sigma Securities LLC now owns 23,401 shares of the company’s stock worth $140,000 after acquiring an additional 4,962 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.