Stock analysts predict Open Lending Co. (NASDAQ:LPRO) will post earnings of $0.15 per share for the current quarter, according to Zacks. Four analysts have made estimates of Open Lending earnings. The highest EPS estimate is $0.17 and the lowest is $0.13. Open Lending reported earnings of $0.12 per share in the same quarter last year, indicating a positive 25% year-over-year growth rate. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, February 24.
On average, analysts expect Open Lending to report annual earnings of $1.09 per share for the current fiscal year, with EPS estimates ranging from $1.06 to $1.12. For the next fiscal year, analysts expect the company to post earnings of $0.82 per share, with EPS estimates ranging from $0.72 to $0.94. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts who follow Open Lending.
Open Lending (NASDAQ:LPRO) last released its quarterly results on Tuesday, November 9. The company reported EPS of $0.23 for the quarter, beating the Zacks consensus estimate of $0.20 by $0.03. The company posted revenue of $58.89 million in the quarter, versus a consensus estimate of $54.88 million. Open Lending had a return on equity of 51.25% and a net margin of 36.64%. In the same quarter of the previous year, the company made earnings per share of $0.10.
Several equity research analysts have looked at LPRO shares. Raymond James lowered its price target on Open Lending shares from $44.00 to $30.00 and set a “Strong Buy” rating for the company in a Tuesday, January 11 research report. Morgan Stanley lowered its price target on Open Lending shares from $29.00 to $18.00 and set an “equal weight” rating for the company in a Thursday, January 27 research report. JMP Securities lowered its price target on Open Lending shares from $40.00 to $37.00 and set a “market outperformance” rating for the company in a Wednesday, November 10 research report. Zacks Investment Research downgraded shares of Open Lending from a “hold” rating to a “strong sell” rating in a Thursday, Dec. 9, report. Finally, TheStreet downgraded Open Lending shares from a “c-” rating to a “d+” rating in a Friday, November 19 report. One research analyst rated the stock with a sell rating, three gave a hold rating, six gave a buy rating and one gave the company’s stock a strong buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $37.90.
LPRO Stock traded at $0.38 in Friday’s midday session, hitting $18.06. The company had a trading volume of 546,007 shares, compared to an average volume of 988,367. The company has a market capitalization of $2.28 billion, a price-earnings ratio of 30.61 and a beta of 0.42. . The company has a debt ratio of 1.13, a current ratio of 9.71 and a quick ratio of 9.71. The stock has a 50-day moving average price of $21.13 and a 200-day moving average price of $30.16. Open loans have a 1 year minimum of $15.93 and a 1 year maximum of $44.00.
In other news, insider Charles D. Jehl acquired 3,400 shares of Open Lending in a trade on Friday, November 12. The shares were acquired at an average cost of $29.30 per share, for a total transaction of $99,620.00. The acquisition was disclosed in a filing with the SEC, accessible via this link. Also, insider John Joseph Flynn sold 30,000 shares of the company in a transaction dated Tuesday, November 9. The shares were sold at an average price of $33.68, for a total transaction of $1,010,400.00. Disclosure of this sale can be found here. 25.96% of the shares are held by insiders of the company.
A number of large investors have recently increased or reduced their holdings in LPRO. True Wind Capital Management LP purchased a new stake in Open Lending during Q4, valued at approximately $169,615,000. State Street Corp increased its holdings of Open Lending shares by 464.8% during the 2nd 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 in the last quarter. Wasatch Advisors Inc. increased its holdings of 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 acquiring an additional 1,331,744 shares in the last quarter. Macquarie Group Ltd. increased its holdings of Open Lending shares by 2,853.7% during the 2nd quarter. Macquarie Group Ltd. now owns 1,349,146 shares of the company valued at $58,135,000 after acquiring an additional 1,303,469 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC increased its stake in Open Lending shares by 128.9% during the 3rd quarter. Villere ST Denis J & Co. LLC now owns 1,935,924 shares of the company valued at $69,828,000 after acquiring an additional 1,090,139 shares in the last quarter. Institutional investors and hedge funds own 80.02% of the company’s shares.
Open Loan Company Profile
Open Lending Corp. provides lending and risk analysis services to credit unions, regional banks and captive finance companies of original equipment manufacturers (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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