Connor Clark & Lunn Investment Management Ltd. Grows Position in Oportun Financial Corporation (NASDAQ:OPRT)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Oportun Financial Corporation by 114.1% during the first quarter, now owning approximately 0.90% of the company, valued at about $1.85 million.
• Several hedge funds, including Charles Schwab and Telos Capital Management, have also either initiated or increased their positions in Oportun Financial during recent quarters, indicating strong interest from institutional investors.
• Oportun Financial's stock has seen a trading decline of 2.3% recently, with prices currently around $6.05, while analysts have mixed ratings with an average price target of $9.33.

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Oportun Financial Corporation (NASDAQ:OPRT - Free Report) by 114.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 336,841 shares of the company's stock after buying an additional 179,541 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.90% of Oportun Financial worth $1,849,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. purchased a new position in Oportun Financial during the 1st quarter worth approximately $88,000. Telos Capital Management Inc. grew its stake in Oportun Financial by 50.0% during the 1st quarter. Telos Capital Management Inc. now owns 20,015 shares of the company's stock worth $110,000 after buying an additional 6,672 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Oportun Financial during the 4th quarter worth approximately $79,000. Balyasny Asset Management L.P. purchased a new position in Oportun Financial during the 4th quarter worth approximately $80,000. Finally, Barclays PLC grew its stake in Oportun Financial by 26.5% during the 4th quarter. Barclays PLC now owns 24,447 shares of the company's stock worth $96,000 after buying an additional 5,114 shares during the last quarter. Hedge funds and other institutional investors own 82.70% of the company's stock.

Oportun Financial Trading Down 2.3%

Oportun Financial stock opened at $6.05 on Friday. Oportun Financial Corporation has a twelve month low of $2.37 and a twelve month high of $9.24. The stock has a 50 day moving average of $6.62 and a two-hundred day moving average of $6.14. The stock has a market capitalization of $266.26 million, a price-to-earnings ratio of -30.25 and a beta of 1.23.

Wall Street Analyst Weigh In

OPRT has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Oportun Financial from $7.00 to $8.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Wall Street Zen upgraded Oportun Financial from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Sidoti raised Oportun Financial to a "hold" rating in a research report on Thursday, May 1st. Finally, Stephens assumed coverage on Oportun Financial in a research report on Thursday, June 12th. They set an "overweight" rating and a $10.00 price objective for the company. Three analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $9.33.

Oportun Financial 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.

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