868,310 Shares of Oportun Financial Corporation $OPRT Acquired by CenterBook Partners LP

CenterBook Partners LP acquired a new stake in shares of Oportun Financial Corporation (NASDAQ:OPRT) in the third quarter, Holdings Channel reports. The firm acquired 868,310 shares of the company’s stock, valued at approximately $7,068,000.

Other large investors also recently added to or reduced their stakes in the company. Pinnacle Holdings LLC bought a new position in Oportun Financial in the 2nd quarter worth about $33,000. Commonwealth Equity Services LLC bought a new stake in shares of Oportun Financial during the third quarter valued at approximately $93,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Oportun Financial in the second quarter valued at approximately $66,000. Abel Hall LLC purchased a new stake in shares of Oportun Financial in the first quarter valued at approximately $57,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Oportun Financial in the second quarter valued at approximately $74,000. 82.70% of the stock is owned by hedge funds and other institutional investors.

Oportun Financial Stock Performance

Oportun Financial stock traded down $0.29 during midday trading on Friday, hitting $11.31. 617,491 shares of the company’s stock were exchanged, compared to its average volume of 666,736. The company has a market cap of $520.15 million, a PE ratio of 15.28 and a beta of 1.29. The firm has a 50-day moving average of $8.75 and a two-hundred day moving average of $6.36. Oportun Financial Corporation has a 12 month low of $4.03 and a 12 month high of $13.34.

Oportun Financial (NASDAQ:OPRT) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. Oportun Financial had a net margin of 2.05% and a return on equity of 13.41%. The business had revenue of $246.28 million during the quarter, compared to analyst estimates of $237.87 million. As a group, equities analysts expect that Oportun Financial Corporation will post 1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on OPRT. Stephens raised their price objective on Oportun Financial from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Wednesday. Jefferies Financial Group upped their target price on Oportun Financial from $6.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, October 7th. Wall Street Zen upgraded Oportun Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 24th. Finally, Weiss Ratings raised Oportun Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.25.

Insider Transactions at Oportun Financial

In related news, insider Kathleen Layton sold 4,223 shares of Oportun Financial stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $7.80, for a total transaction of $32,939.40. Following the transaction, the insider directly owned 292,006 shares of the company’s stock, valued at $2,277,646.80. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 7,082 shares of company stock worth $55,240 over the last 90 days. Company insiders own 1.60% of the company’s stock.

About Oportun Financial

Oportun Financial Corp. is a financial technology company that provides credit products and related financial services to consumers in the United States, with a particular focus on serving Hispanic and other traditionally underserved communities. The company uses data-driven underwriting and digital tools to offer customers access to credit, including borrowers who may have limited credit histories.

Oportun’s primary products have included unsecured personal loans and credit cards. Through its digital platform and customer service channels, the company has also provided tools intended to help consumers manage borrowing, make payments and build or strengthen their credit profiles.

Founded in 2005 as Progreso Financiero, the company adopted the Oportun name in 2015 and became a publicly traded company in 2019.