Oportun Financial Co. (NASDAQ:OPRT) Sees Large Increase in Short Interest

Oportun Financial Co. (NASDAQ:OPRT) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 108,700 shares, an increase of 28.9% from the November 30th total of 84,300 shares. Based on an average daily volume of 153,200 shares, the days-to-cover ratio is presently 0.7 days.

Analysts Set New Price Targets

Separately, Singular Research raised shares of Oportun Financial to a “strong-buy” rating in a research note on Friday, September 20th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Insiders Place Their Bets

In related news, Director R Neil Williams bought 25,000 shares of Oportun Financial stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average price of $3.87 per share, with a total value of $96,750.00. Following the purchase, the director now owns 140,338 shares in the company, valued at $543,108.06. This represents a 21.68 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mohit Daswani purchased 7,420 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $3.90 per share, with a total value of $28,938.00. Following the completion of the acquisition, the director now owns 41,924 shares of the company’s stock, valued at approximately $163,503.60. The trade was a 21.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 41,264 shares of company stock worth $159,826. 9.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oportun Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acuitas Investments LLC purchased a new position in shares of Oportun Financial in the 2nd quarter valued at $1,577,000. RBF Capital LLC grew its holdings in Oportun Financial by 82.9% during the 3rd quarter. RBF Capital LLC now owns 978,079 shares of the company’s stock valued at $2,748,000 after purchasing an additional 443,177 shares in the last quarter. Millennium Management LLC increased its stake in Oportun Financial by 26.4% during the 2nd quarter. Millennium Management LLC now owns 1,507,012 shares of the company’s stock worth $4,370,000 after buying an additional 314,553 shares during the period. Long Focus Capital Management LLC lifted its holdings in Oportun Financial by 6.0% in the 2nd quarter. Long Focus Capital Management LLC now owns 1,740,777 shares of the company’s stock worth $5,048,000 after buying an additional 99,197 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Oportun Financial by 53.3% during the second quarter. Marshall Wace LLP now owns 274,969 shares of the company’s stock valued at $797,000 after acquiring an additional 95,637 shares in the last quarter. 82.70% of the stock is currently owned by institutional investors and hedge funds.

Oportun Financial Price Performance

NASDAQ:OPRT traded down $0.10 during trading hours on Tuesday, reaching $3.88. 126,792 shares of the company were exchanged, compared to its average volume of 227,478. The firm has a market cap of $139.59 million, a price-to-earnings ratio of -1.18 and a beta of 1.17. The stock has a 50 day simple moving average of $3.45 and a 200 day simple moving average of $3.06. Oportun Financial has a 52-week low of $2.05 and a 52-week high of $4.60.

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.