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

Wall Street Zen downgraded shares of Oportun Financial (NASDAQ:OPRT) from a strong-buy rating to a buy rating in a research report released on Saturday.

A number of other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $6.00 target price (down from $8.00) on shares of Oportun Financial in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oportun Financial in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Oportun Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.67.

Oportun Financial Trading Up 3.3%

OPRT stock opened at $5.26 on Friday. The firm has a 50 day moving average of $6.25 and a 200-day moving average of $6.15. Oportun Financial has a 12 month low of $2.40 and a 12 month high of $9.24. The firm has a market capitalization of $231.49 million, a P/E ratio of -26.30 and a beta of 1.30.

Oportun Financial (NASDAQ:OPRT) last announced its earnings results on Tuesday, October 29th. The company reported $0.17 earnings per share for the quarter. The business had revenue of $266.56 million for the quarter. Oportun Financial had a negative net margin of 0.47% and a positive return on equity of 13.15%. Sell-side analysts predict that Oportun Financial will post 0.94 EPS for the current year.

Insider Activity at Oportun Financial

In related news, insider Kathleen I. Layton sold 4,214 shares of Oportun Financial stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $6.64, for a total value of $27,980.96. Following the transaction, the insider directly owned 159,184 shares of the company’s stock, valued at $1,056,981.76. The trade was a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OPRT. Bank of America Corp DE increased its stake in shares of Oportun Financial by 14.1% in the fourth quarter. Bank of America Corp DE now owns 61,193 shares of the company’s stock worth $237,000 after buying an additional 7,545 shares during the period. Telos Capital Management Inc. boosted its holdings in Oportun Financial by 50.0% in the first quarter. Telos Capital Management Inc. now owns 20,015 shares of the company’s stock valued at $110,000 after acquiring an additional 6,672 shares in the last quarter. XTX Topco Ltd bought a new stake in Oportun Financial in the first quarter valued at $374,000. Charles Schwab Investment Management Inc. bought a new stake in Oportun Financial in the first quarter valued at $88,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Oportun Financial by 114.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 336,841 shares of the company’s stock valued at $1,849,000 after acquiring an additional 179,541 shares in the last quarter. 82.70% of the stock is owned by hedge funds and other institutional investors.

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.