Open Lending (NASDAQ: LPRO) rating lowered to sell strongly at Zacks Investment Research
Open loans (NASDAQ: LPRO) has been downgraded from Zacks investment research from a “keep” rating to a “strong sell” rating in a research report given to clients and investors on Thursday, 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. “
A number of other equity research analysts have also recently published reports on the company. Raymond James lowered his price target on Open Lending from $ 52.00 to $ 44.00 and set a “strong buy” rating on the stock in a research note on Thursday, November 11. JMP Securities lowered its price target on Open Lending from $ 40.00 to $ 37.00 and set a “market outperformance” rating on the stock in a research report released on Wednesday, November 10. DA Davidson lowered his price target on Open Lending from $ 50.00 to $ 46.00 and set a “buy” rating on the stock in a research report on Friday, November 12. TheStreet reduced Open Lending from a “c-” rating to a “d +” rating in a research report published on Friday, November 19. Finally, Morgan Stanley lowered its price target on Open Lending from $ 40.00 to $ 29.00 and set an “equal weight” rating for the stock in a research report released on Friday, November 12. One investment analyst rated the stock with a sell rating, three assigned a custody rating, six issued a buy rating, and one gave the company’s stock a high buy rating. According to MarketBeat data, the company currently has a consensus rating of “Buy” and an average target price of $ 41.82.
Actions of NASDAQ: LPRO open for $ 24.04 Thursday. The company’s 50-day moving average is $ 30.26 and its 200-day moving average is $ 35.78. The company has a debt to equity ratio of 1.13, a rapid ratio of 9.71 and a current ratio of 9.71. The company has a market cap of $ 3.03 billion, a P / E ratio of 40.75 and a beta of 0.34. Open Lending has a fifty-two week minimum of $ 20.92 and a fifty-two week maximum of $ 44.00.
Open Lending (NASDAQ: LPRO) last reported quarterly results on Tuesday, November 9. The company reported earnings per share (EPS) of $ 0.23 for the quarter, beating the consensus estimate of $ 0.20 by $ 0.03 by the Zacks. Open Lending recorded a return on equity of 51.25% and a net margin of 36.64%. The company posted revenue of $ 58.89 million for the quarter, compared to analysts’ expectations of $ 54.88 million. During the same period of the previous year, the company posted EPS of $ 0.10. As a group, research analysts predict that Open Lending will post earnings per share of 0.77 for the current year.
In other Open Lending news, insider Ross M. Jessup sold 10,000 shares of the company in a trade that took place on Friday, October 1. The stock was sold for an average price of $ 35.26, for a total value of $ 352,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, initiate John joseph flynn sold 30,000 shares of the company in a transaction that took place on Monday, September 20. The stock was sold for an average price of $ 38.55, for a total value of $ 1,156,500.00. Disclosure of this sale can be found here. Insiders have sold 165,250 shares of the company valued at $ 5,609,013 in the past three months. 25.96% of the shares are held by insiders.
Several large investors have recently increased or reduced their stakes in the company. Wasatch Advisors Inc. increased its stake in Open Lending shares by 10.0% during the third quarter. Wasatch Advisors Inc. now owns 14,693,952 shares of the company valued at $ 530,011,000 after purchasing an additional 1,331,744 shares during the period. Vanguard Group Inc. increased its stake in Open Lending shares by 12.1% during the second quarter. Vanguard Group Inc. now owns 9,802,636 shares of the company valued at $ 422,396,000 after purchasing an additional 1,061,212 shares during the period. BlackRock Inc. increased its stake in Open Lending shares by 246.5% during the second quarter. BlackRock Inc. now owns 6,659,299 shares of the company valued at $ 286,948,000 after purchasing an additional 4,737,570 shares during the period. Washington Harbor Partners LP increased its stake in Open Lending shares by 36.9% during the third quarter. Washington Harbor Partners LP now owns 2,902,749 shares of the company valued at $ 104,702,000 after purchasing an additional 781,947 shares during the period. Finally, State Street Corp increased its holdings of Open Lending stocks by 464.8% in the second quarter. State Street Corp now owns 2,187,630 shares of the company valued at $ 94,265,000 after acquiring an additional 1,800,281 shares during the last quarter. 80.95% of the shares are 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 Original Equipment Manufacturer (OEM Captives) finance companies. It specializes in risk-based pricing and modeling and provides automated decision technology to auto lenders across the United States.
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