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

Oportun Financial (NASDAQ:OPRT) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oportun Financial in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $6.00 price objective (down previously from $8.00) on shares of Oportun Financial in a research report on Tuesday, October 7th. Finally, Zacks Research downgraded Oportun Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.67.

Oportun Financial Stock Performance

NASDAQ OPRT opened at $5.09 on Friday. The company has a market cap of $224.01 million, a P/E ratio of -25.45 and a beta of 1.30. The business’s 50 day moving average price is $6.26 and its 200-day moving average price is $6.16. Oportun Financial has a fifty-two week low of $2.40 and a fifty-two week high of $9.24.

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

Insider Activity

In other news, insider Kathleen I. Layton sold 4,214 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $6.64, for a total transaction of $27,980.96. Following the transaction, the insider owned 159,184 shares of the company’s stock, valued at approximately $1,056,981.76. This represents a 2.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.30% of the company’s stock.

Hedge Funds Weigh In On Oportun Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in OPRT. Cannell Capital LLC grew its position in shares of Oportun Financial by 7,067.0% during the 2nd quarter. Cannell Capital LLC now owns 1,601,244 shares of the company’s stock worth $11,465,000 after buying an additional 1,578,902 shares in the last quarter. Boston Partners bought a new position in shares of Oportun Financial during the 1st quarter worth $2,728,000. Geode Capital Management LLC grew its position in shares of Oportun Financial by 131.6% during the 2nd quarter. Geode Capital Management LLC now owns 776,844 shares of the company’s stock worth $5,563,000 after buying an additional 441,392 shares in the last quarter. Millennium Management LLC grew its position in shares of Oportun Financial by 28.9% during the 1st quarter. Millennium Management LLC now owns 1,936,797 shares of the company’s stock worth $10,633,000 after buying an additional 433,827 shares in the last quarter. Finally, CenterBook Partners LP bought a new position in shares of Oportun Financial during the 2nd quarter worth $2,950,000. Institutional investors own 82.70% of the company’s stock.

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.