State Street Corp lifted its stake in shares of Oportun Financial Corporation (NASDAQ:OPRT) by 117.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 125,959 shares of the company’s stock after buying an additional 68,164 shares during the period. State Street Corp’s holdings in Oportun Financial were worth $1,329,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in OPRT. Glynn Capital Management LLC purchased a new position in shares of Oportun Financial during the first quarter valued at about $12,517,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Oportun Financial by 15.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,377,557 shares of the company’s stock worth $80,385,000 after purchasing an additional 451,784 shares during the period. Geode Capital Management LLC purchased a new stake in Oportun Financial in the fourth quarter worth about $2,023,000. RMB Capital Management LLC purchased a new stake in Oportun Financial in the fourth quarter worth about $1,699,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Oportun Financial in the fourth quarter worth about $1,022,000. Institutional investors own 60.81% of the company’s stock.
Shares of NASDAQ OPRT opened at $13.34 on Wednesday. The firm’s 50 day moving average price is $10.99 and its 200-day moving average price is $15.09. The company has a market cap of $346.98 million and a PE ratio of 11.91. Oportun Financial Corporation has a 52-week low of $5.26 and a 52-week high of $25.84.
Oportun Financial (NASDAQ:OPRT) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.21). The company had revenue of $163.40 million for the quarter, compared to the consensus estimate of $162.00 million. As a group, equities research analysts forecast that Oportun Financial Corporation will post -0.19 earnings per share for the current year.
In related news, insider Patrick Kirscht sold 6,066 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $8.64, for a total transaction of $52,410.24. Following the transaction, the insider now owns 53,798 shares in the company, valued at $464,814.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Raul Vazquez acquired 12,650 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were bought at an average price of $9.23 per share, for a total transaction of $116,759.50. Following the transaction, the chief executive officer now owns 261,218 shares of the company’s stock, valued at $2,411,042.14. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 12,926 shares of company stock worth $105,520. 11.20% of the stock is owned by insiders.
A number of equities research analysts have weighed in on the stock. JMP Securities cut their price objective on shares of Oportun Financial from $26.00 to $14.00 and set a “market outperform” rating on the stock in a report on Friday, May 15th. ValuEngine upgraded shares of Oportun Financial from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Barclays restated a “buy” rating and issued a $21.00 price objective on shares of Oportun Financial in a report on Wednesday, March 18th. Zacks Investment Research downgraded shares of Oportun Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, May 20th. Finally, BTIG Research reiterated a “buy” rating and issued a $19.00 target price on shares of Oportun Financial in a research note on Thursday, May 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Oportun Financial currently has a consensus rating of “Buy” and a consensus target price of $17.79.
About Oportun Financial
Oportun is a high-growth, mission-driven CDFI and provider of inclusive, affordable financial services powered by a deep, data-driven understanding of its customers and advanced proprietary technology. By lending money to hardworking, low-to-moderate-income individuals, Oportun helps them move forward in their lives, demonstrate their creditworthiness, and establish the credit history they need to access new opportunities.
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