Acadian Asset Management LLC Has $5.79 Million Position in Oportun Financial Corporation $OPRT

Key Points

• Acadian Asset Management LLC increased its stake in Oportun Financial Corporation by 18.9%, owning over 1 million shares valued at about $5.79 million.
• Research analysts have raised their ratings on Oportun Financial, with Wall Street Zen upgrading it to a "strong-buy" and price targets increasing, indicating growing optimism.
• Insider Kathleen I. Layton sold 4,214 shares at an average price of $6.64, reducing her stake in the company by 2.58%.

Acadian Asset Management LLC boosted its stake in shares of Oportun Financial Corporation (NASDAQ:OPRT - Free Report) by 18.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,055,274 shares of the company's stock after acquiring an additional 167,564 shares during the period. Acadian Asset Management LLC owned 2.81% of Oportun Financial worth $5,790,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. bought a new position in Oportun Financial during the 4th quarter worth $319,000. Millennium Management LLC increased its stake in Oportun Financial by 7.4% during the 4th quarter. Millennium Management LLC now owns 1,502,970 shares of the company's stock worth $5,832,000 after acquiring an additional 104,186 shares during the period. Jane Street Group LLC bought a new position in Oportun Financial during the 4th quarter worth $219,000. Jump Financial LLC acquired a new stake in shares of Oportun Financial in the 1st quarter valued at $395,000. Finally, Two Sigma Advisers LP increased its stake in shares of Oportun Financial by 11.7% in the 4th quarter. Two Sigma Advisers LP now owns 508,500 shares of the company's stock valued at $1,973,000 after purchasing an additional 53,400 shares during the last quarter. Institutional investors own 82.70% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Oportun Financial from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. lifted their price target on Oportun Financial from $7.00 to $8.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, Stephens started coverage on Oportun Financial in a report on Thursday, June 12th. They set an "overweight" rating and a $10.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $9.33.

Insider Buying and Selling

In other Oportun Financial news, insider Kathleen I. Layton sold 4,214 shares of Oportun Financial stock in a transaction dated 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 directly owned 159,184 shares of the company's stock, valued at approximately $1,056,981.76. The trade was a 2.58% decrease in their position. The sale 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.

Oportun Financial Price Performance

Shares of NASDAQ OPRT traded up $0.29 during mid-day trading on Thursday, hitting $7.09. 982,697 shares of the stock traded hands, compared to its average volume of 611,560. Oportun Financial Corporation has a twelve month low of $2.40 and a twelve month high of $9.24. The company has a market cap of $312.03 million, a PE ratio of -35.45 and a beta of 1.33. The firm has a 50 day simple moving average of $6.33 and a two-hundred day simple moving average of $6.15.

Oportun Financial Company Profile

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.