Oportun Financial (NASDAQ:OPRT) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Oportun Financial (NASDAQ:OPRT) from a strong-buy rating to a buy rating in a report published on Sunday morning.

Other equities analysts also recently issued research reports about the company. Zacks Research downgraded Oportun Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oportun Financial in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reissued 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. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.67.

Oportun Financial Stock Performance

Shares of NASDAQ OPRT opened at $4.74 on Friday. The company’s 50-day moving average price is $5.86 and its 200 day moving average price is $6.25. Oportun Financial has a 52 week low of $2.82 and a 52 week high of $9.24. The stock has a market cap of $209.18 million, a price-to-earnings ratio of 7.18 and a beta of 1.35.

Oportun Financial (NASDAQ:OPRT) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.17 earnings per share (EPS) for the quarter. Oportun Financial had a net margin of 3.19% and a return on equity of 17.61%. The company had revenue of $266.56 million for the quarter. As a group, research analysts expect that Oportun Financial will post 0.94 earnings per share for the current year.

Insider Activity at Oportun Financial

In related news, insider Kathleen I. Layton sold 4,214 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $6.64, for a total value of $27,980.96. Following the completion of the transaction, the insider directly owned 159,184 shares in the company, valued at approximately $1,056,981.76. This represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Oportun Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPRT. CenterBook Partners LP increased its stake in shares of Oportun Financial by 70.1% during the 3rd quarter. CenterBook Partners LP now owns 700,833 shares of the company’s stock valued at $4,324,000 after acquiring an additional 288,815 shares during the last quarter. Vanguard Group Inc. grew its holdings in Oportun Financial by 30.4% in the third quarter. Vanguard Group Inc. now owns 2,106,640 shares of the company’s stock valued at $12,998,000 after purchasing an additional 490,608 shares during the period. Rhumbline Advisers increased its position in Oportun Financial by 5.8% during the third quarter. Rhumbline Advisers now owns 51,467 shares of the company’s stock worth $318,000 after purchasing an additional 2,817 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Oportun Financial during the third quarter worth approximately $389,000. Finally, Flaharty Asset Management LLC acquired a new position in shares of Oportun Financial in the 3rd quarter valued at $80,000. Hedge funds and other institutional investors own 82.70% of the company’s stock.

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.