Summa Corp. Buys 3,000 Shares of Oportun Financial Corporation $OPRT

Summa Corp. grew its stake in Oportun Financial Corporation (NASDAQ:OPRT) by 0.5% during the second quarter, HoldingsChannel.com reports. The firm owned 565,338 shares of the company’s stock after purchasing an additional 3,000 shares during the period. Oportun Financial makes up approximately 2.1% of Summa Corp.’s holdings, making the stock its 7th biggest holding. Summa Corp.’s holdings in Oportun Financial were worth $4,048,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Millennium Management LLC raised its stake in shares of Oportun Financial by 28.9% in the 1st quarter. Millennium Management LLC now owns 1,936,797 shares of the company’s stock valued at $10,633,000 after purchasing an additional 433,827 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Oportun Financial by 18.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,055,274 shares of the company’s stock valued at $5,790,000 after purchasing an additional 167,564 shares in the last quarter. Boston Partners acquired a new stake in shares of Oportun Financial in the 1st quarter valued at about $2,728,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Oportun Financial by 114.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 336,841 shares of the company’s stock valued at $1,849,000 after purchasing an additional 179,541 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Oportun Financial by 499.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 313,446 shares of the company’s stock valued at $1,721,000 after purchasing an additional 261,147 shares in the last quarter. Institutional investors and hedge funds own 82.70% of the company’s stock.

Insider Buying and Selling

In other Oportun Financial news, insider Kathleen I. Layton sold 4,214 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $6.64, for a total value of $27,980.96. Following the completion of the transaction, the insider owned 159,184 shares in the company, valued at approximately $1,056,981.76. This represents a 2.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.30% of the company’s stock.

Oportun Financial Trading Down 5.6%

NASDAQ OPRT opened at $5.09 on Friday. Oportun Financial Corporation has a 52 week low of $2.40 and a 52 week high of $9.24. The stock has a market cap of $224.01 million, a price-to-earnings ratio of -25.45 and a beta of 1.30. The company has a 50-day moving average price of $6.26 and a two-hundred day moving average price of $6.16.

Oportun Financial (NASDAQ:OPRT) last posted its earnings results on Tuesday, October 29th. The company reported $0.17 EPS for the quarter. Oportun Financial had a negative net margin of 0.47% and a positive return on equity of 13.15%. The firm had revenue of $266.56 million during the quarter. As a group, equities research analysts expect that Oportun Financial Corporation will post 0.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OPRT. JPMorgan Chase & Co. restated an “underweight” rating and issued a $6.00 target price (down previously from $8.00) on shares of Oportun Financial in a research note on Tuesday, October 7th. Zacks Research lowered shares of Oportun Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oportun Financial in a research note on Wednesday. Finally, Wall Street Zen lowered shares of Oportun Financial from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.67.

About Oportun Financial

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.