Open Lending (NASDAQ:LPRO) Trading Up 8.8% – Still a Buy?

Open Lending Co. (NASDAQ:LPRO)’s share price was up 8.8% during trading on Tuesday . The company traded as high as $6.32 and last traded at $6.32. Approximately 165,427 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 413,838 shares. The stock had previously closed at $5.81.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a “hold” rating on shares of Open Lending in a report on Wednesday, October 2nd. 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.com, Open Lending currently has an average rating of “Hold” and a consensus target price of $6.83.

Open Lending Stock Down 5.0 %

The firm has a market cap of $702.97 million, a price-to-earnings ratio of 196.33, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16. The stock’s 50 day moving average is $6.04 and its 200 day moving average is $5.91. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61.

Institutional Trading of Open Lending

A number of large investors have recently added to or reduced their stakes in LPRO. Cubist Systematic Strategies LLC acquired a new position in shares of Open Lending in the 2nd quarter worth $33,000. Blue Trust Inc. raised its holdings in Open Lending by 208.2% during the 3rd quarter. Blue Trust Inc. now owns 10,500 shares of the company’s stock worth $59,000 after buying an additional 7,093 shares during the period. Quantinno Capital Management LP purchased a new stake in Open Lending during the third quarter valued at about $68,000. SlateStone Wealth LLC acquired a new position in shares of Open Lending in the second quarter worth about $70,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Open Lending in the 3rd quarter valued at approximately $91,000. 78.06% of the stock is currently owned by institutional investors.

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.