Open Lending (NASDAQ: LPRO) upgraded by Zacks Investment Research to retain

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Open loans (NASDAQ: LPRO) was upgraded by Zacks Investment Research from a “strong sell” rating to a “conservation” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Open Lending LLC, through its flagship product, Lenders Protection, offers loan analytics, risk-based pricing, risk modeling and default insurance, securing profitable auto loan portfolios for financial institutions. . Open Lending LLC, formerly known as Nebula Acquisition Corporation, is headquartered in AUSTIN, Texas. “

Other stock analysts have also published reports on the stock. Goldman Sachs Group Downgraded Open Lending Shares from a “Buy” Rating to a “Neutral” Rating, Lowering Its Price Target for the Company from $ 43.00 to $ 40.00 in a Report research published on Friday, July 23. Needham & Company LLC raised its price target for Open Lending shares from $ 50.00 to $ 53.00 and gave the stock a “buy” rating in a research report released on Wednesday 11 August. DA Davidson raised his price target for Open Lending stocks from $ 45 to $ 50.00 and gave the stock a “buy” rating in a research report on Friday, August 13. Finally, Raymond James lowered his price target on Open Lending shares from $ 57.00 to $ 52.00 and established a strong buy rating for the company in a research report released on Wednesday, August 11. Four research analysts rated the stock with a conservation rating, six issued a buy rating, and one issued a strong buy rating for the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $ 45.60.

Open Lending shares opened at $ 33.23 on Tuesday. The company has a market cap of $ 4.19 billion, a P / E ratio of 166.15 and a beta of 0.28. The company has a rapid ratio of 9.13, a current ratio of 9.13 and a debt ratio of 1.49. The company has a 50-day moving average price of $ 36.19 and a 200-day moving average price of $ 37.46. Open Lending has a 52 week low of $ 25.88 and a 52 week high of $ 44.00.

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Open Lending (NASDAQ: LPRO) last reported its quarterly results on Monday, August 9. The company reported EPS of $ 0.60 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.17 of $ 0.43. The company posted revenue of $ 61.13 million in the quarter, compared to analysts’ estimates of $ 48.96 million. Open Lending had a net margin of 18.85% and a return on equity of 158.97%. Open Lending revenue increased 177.0% year-on-year. During the same period last year, the company posted ($ 1.01) EPS. As a group, research analysts predict that Open Lending will post earnings per share of 0.86 for the current fiscal year.

In other news, insider Ross M. Jessup sold 10,000 shares of the company in a trade that took place on Friday, October 1. The shares were sold at an average price of $ 35.26, for a total trade of $ 352,600.00. The sale was disclosed in a legal file with the SEC, which can be accessed through this hyperlink. Additionally, insider John Joseph Flynn sold 30,000 shares of Open Lending in a trade on Wednesday, October 20. The shares were sold at an average price of $ 35.31, for a total trade of $ 1,059,300.00. Disclosure of this sale can be found here. Insiders have sold a total of 1,321,626 shares of the company valued at $ 44,905,942 in the past ninety days. Company insiders own 25.96% of the company’s shares.

A number of institutional investors have recently increased or reduced their holdings in the stock. Chartwell Investment Partners LLC increased its stake in Open Lending by 0.9% in the 2nd quarter. Chartwell Investment Partners LLC now owns 37,881 shares of the company valued at $ 1,632,000 after acquiring 336 additional shares during the period. Cypress Point Wealth Management LLC increased its stake in Open Lending by 0.5% during the 2nd quarter. Cypress Point Wealth Management LLC now owns 104,500 shares of the company valued at $ 4,503,000 after purchasing an additional 500 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Open Lending by 15.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 5,251 shares of the company valued at $ 226,000 after purchasing an additional 685 shares in the last quarter. Citigroup Inc. increased its stake in Open Lending by 3.2% during the 2nd quarter. Citigroup Inc. now owns 22,200 shares of the company valued at $ 956,000 after purchasing an additional 691 shares in the last quarter. Finally, Stephens Inc. AR increased its stake in Open Lending by 8.4% during the 3rd quarter. Stephens Inc. AR now owns 12,441 shares of the company valued at $ 449,000 after purchasing an additional 961 shares during the last quarter. 80.95% of the shares are currently held by hedge funds and other institutional investors.

Open Loan Company Profile

Open Lending Corp. provides loan activation and risk analysis to credit unions, regional banks and OEM Captives. It specializes in risk-based pricing and modeling and provides automated decision technology to auto lenders across the United States.

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Analyst Recommendations for Open Loans (NASDAQ: LPRO)

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