Oportun Financial (NASDAQ:OPRT) raised to hold Zacks Investment Research
Oportun Financial (NASDAQ:OPRT – Get a rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released Wednesday, Zacks.com reports.
According to Zacks, “Oportun Financial Corporation is a community development financial institution providing financial services. It operates primarily in Arizona, California, Florida, Idaho, Illinois, Missouri, Nevada, New Jersey, New Mexico, Texas, Utah, and Wisconsin. Oportun Financial Corporation is headquartered in SAN CARLOS, California.”
Several other equity analysts have also recently weighed in on the OPRT. Loop Capital began covering Oportun Financial shares in a research report on Monday, March 14. They set a “buy” rating and a price target of $24.00 on the stock. JPMorgan Chase & Co. upgraded shares of Oportun Financial from a ‘neutral’ rating to an ‘overweight’ rating and lowered its price target for the stock from $27.00 to $23.00 in a report research on Wednesday, January 19. Finally, BTIG Research reiterated a “buy” rating and set a price target of $27.00 on shares of Oportun Financial in a research report on Thursday, April 14. One research analyst gave the stock a hold rating and five gave the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $25.50.
Opportun Financial’s stock opened Wednesday at $11.84. The company has a market capitalization of $388.43 million, a price-earnings ratio of 7.64 and a beta of 1.37. Oportun Financial has a 1-year minimum of $10.59 and a 1-year maximum of $27.95. The company has a 50-day simple moving average of $13.34.
Oportun Financial (NASDAQ:OPRT – Get Rating) last released its quarterly results on Monday, May 9. The company reported earnings per share (EPS) of $1.58 for the quarter, beating the consensus estimate of $0.60 by $0.98. The company posted revenue of $214.70 million for the quarter, versus analyst estimates of $198.40 million. Oportun Financial had a net margin of 7.56% and a return on equity of 12.00%. The company’s quarterly revenue increased by 58.7% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $0.27. As a group, analysts expect Oportun Financial to post EPS of 1.54 for the current fiscal year.
In other news from Oportun Financial, Director Louis Miramontes sold 5,357 shares of Oportun Financial in a trade on Monday March 14th. The shares were sold at an average price of $13.76, for a total transaction of $73,712.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders of the company hold 12.60% of the shares of the company.
Several hedge funds have recently increased or reduced their holdings in the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Oportun Financial by 0.5% in Q3. Kayne Anderson Rudnick Investment Management LLC now owns 3,343,835 shares of the company valued at $83,696,000 after purchasing an additional 17,173 shares in the last quarter. BlackRock Inc. increased its stake in shares of Oportun Financial by 1.6% in the third quarter. BlackRock Inc. now owns 2,736,185 shares of the company valued at $68,486,000 after purchasing an additional 42,644 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Oportun Financial by 37.9% in the third quarter. Wellington Management Group LLP now owns 2,225,454 shares of the company valued at $55,703,000 after purchasing an additional 611,601 shares in the last quarter. Ashford Capital Management Inc. increased its stake in shares of Oportun Financial by 16.8% in the 4th quarter. Ashford Capital Management Inc. now owns 1,693,764 shares of the company valued at $34,299,000 after purchasing an additional 243,874 shares in the last quarter. Finally, General Catalyst Group Management LLC acquired a new stake in the shares of Oportun Financial in the 1st quarter at a value of $13,564,000. 70.58% of the shares are held by institutional investors and hedge funds.
Oportun Financial Company Profile (Get a rating)
Oportun Financial Corporation provides financial services. It offers personal loans, car loans and credit cards. The company serves its customers online and by telephone, as well as through point of sale. It operates in 24 states in the United States, including Arkansas, Delaware, Indiana, Kentucky, Mississippi, Montana, North Dakota, New Hampshire, Oregon, South Carolina, South Dakota and Virginia.
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