Oportun Financial Corporation (NASDAQ:OPRT – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $11.52 and last traded at $11.8690, with a volume of 319 shares. The stock had previously closed at $10.04.
The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. Oportun Financial had a return on equity of 13.41% and a net margin of 2.05%. The company had revenue of $246.28 million for the quarter, compared to the consensus estimate of $237.87 million.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on OPRT. Wall Street Zen raised Oportun Financial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 24th. Stephens lifted their price target on Oportun Financial from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Jefferies Financial Group boosted their target price on Oportun Financial from $6.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, October 7th. 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.75.
Check Out Our Latest Report on OPRT
Insider Buying and Selling
In other Oportun Financial news, insider Kathleen Layton sold 4,223 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $7.80, for a total transaction of $32,939.40. Following the sale, the insider directly owned 292,006 shares of the company’s stock, valued at $2,277,646.80. The trade was a 1.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 7,082 shares of company stock worth $55,240. Company insiders own 1.60% of the company’s stock.
Hedge Funds Weigh In On Oportun Financial
Institutional investors and hedge funds have recently modified their holdings of the business. CenterBook Partners LP bought a new stake in shares of Oportun Financial in the third quarter valued at approximately $7,068,000. Commonwealth Equity Services LLC bought a new position in Oportun Financial during the 3rd quarter worth $93,000. Vise Technologies Inc. acquired a new position in Oportun Financial in the 3rd quarter valued at $110,000. State of Wyoming raised its holdings in Oportun Financial by 46.4% in the 3rd quarter. State of Wyoming now owns 19,400 shares of the company’s stock valued at $158,000 after acquiring an additional 6,146 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Oportun Financial during the 2nd quarter valued at $112,000. 82.70% of the stock is currently owned by institutional investors and hedge funds.
Oportun Financial Stock Performance
The company has a market capitalization of $581.50 million, a price-to-earnings ratio of 32.10 and a beta of 1.29. The firm has a fifty day moving average price of $8.48 and a 200-day moving average price of $6.26.
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.
See Also
- Five stocks we like better than Oportun Financial
- Meta’s $100 Billion AI Financing Plan Has a Catch for Existing Shareholders
- Tower Semiconductor’s Earnings Are Soaring—So Why Is Its Stock Down More Than 50%?
- Shopify’s Small Q3 Miss Triggered a Big Sell-Off: What’s Next?
- Can Oil’s Big Rally Deliver Reliable Income? 3 Energy Plays to Watch
Receive News & Ratings for Oportun Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oportun Financial and related companies with MarketBeat.com's FREE daily email newsletter.
