Short Interest in Oportun Financial Corporation (NASDAQ:OPRT) Drops By 24.8%

Oportun Financial Corporation (NASDAQ:OPRT) was the target of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 218,100 shares, a drop of 24.8% from the May 15th total of 289,900 shares. Based on an average trading volume of 440,300 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.7% of the company’s shares are sold short.

Hedge Funds Weigh In On Oportun Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC boosted its stake in Oportun Financial by 18.9% in the first quarter. Acadian Asset Management LLC now owns 1,055,274 shares of the company’s stock valued at $5,790,000 after acquiring an additional 167,564 shares in the last quarter. Flaharty Asset Management LLC boosted its stake in Oportun Financial by 20.0% in the first quarter. Flaharty Asset Management LLC now owns 60,000 shares of the company’s stock valued at $329,000 after acquiring an additional 10,000 shares in the last quarter. Jane Street Group LLC boosted its stake in Oportun Financial by 238.6% in the first quarter. Jane Street Group LLC now owns 191,066 shares of the company’s stock valued at $1,049,000 after acquiring an additional 134,643 shares in the last quarter. Empowered Funds LLC boosted its stake in Oportun Financial by 7.5% in the first quarter. Empowered Funds LLC now owns 124,980 shares of the company’s stock valued at $686,000 after acquiring an additional 8,752 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Oportun Financial by 499.3% in the first quarter. Goldman Sachs Group Inc. now owns 313,446 shares of the company’s stock valued at $1,721,000 after acquiring an additional 261,147 shares in the last quarter. 82.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Oportun Financial from $6.50 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Sidoti raised shares of Oportun Financial to a “hold” rating in a research report on Thursday, May 1st. BTIG Research started coverage on shares of Oportun Financial in a research report on Wednesday, March 5th. They set a “buy” rating and a $10.00 target price on the stock. Finally, Stephens started coverage on shares of Oportun Financial in a research note on Thursday, June 12th. They set an “overweight” rating and a $10.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.33.

Oportun Financial Stock Performance

NASDAQ OPRT opened at $6.79 on Wednesday. The firm’s 50 day moving average price is $5.93 and its 200-day moving average price is $5.35. Oportun Financial has a 52-week low of $2.37 and a 52-week high of $9.25. The company has a market cap of $297.88 million, a PE ratio of -6.06 and a beta of 1.25.

Oportun Financial Company Profile

Oportun Financial Corporation provides financial services. The company offers personal loans and credit cards. It serves customers through online and over the phone, as well as through retail and Lending as a Service partner locations. The company was founded in 2005 and is headquartered in San Carlos, California.