Oportun Financial (NASDAQ:OPRT) Downgraded to Buy Rating by Wall Street Zen

Key Points

• Oportun Financial has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, indicating a shift in analyst sentiment towards the stock.
• The stock currently holds a consensus rating of "Hold" with an average target price of $8.67, following multiple downgrades from others including Zacks Research and JPMorgan Chase.
• Oportun Financial reported a positive EPS of $0.17 for the quarter, but has a net margin of -0.47%, raising concerns about profitability.

Oportun Financial (NASDAQ:OPRT - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

OPRT has been the topic of several other reports. Zacks Research cut Oportun Financial from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Oportun Financial in a research note on Wednesday. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $6.00 price target (down from $8.00) on shares of Oportun Financial in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $8.67.

Oportun Financial Price Performance

OPRT opened at $5.09 on Friday. Oportun Financial has a 12 month low of $2.40 and a 12 month high of $9.24. The stock has a market cap of $224.01 million, a P/E ratio of -25.45 and a beta of 1.30. The stock's 50 day moving average price is $6.26 and its 200 day moving average price is $6.15.

Oportun Financial (NASDAQ:OPRT - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.17 EPS for the quarter. Oportun Financial had a positive return on equity of 13.15% and a negative net margin of 0.47%.The firm had revenue of $266.56 million for the quarter. Equities analysts anticipate that Oportun Financial will post 0.94 EPS for the current year.

Insider Activity

In related news, insider Kathleen I. Layton sold 4,214 shares of Oportun Financial stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $6.64, for a total value of $27,980.96. Following the transaction, the insider directly owned 159,184 shares in the company, valued at $1,056,981.76. The trade was a 2.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Oportun Financial

Hedge funds have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Oportun Financial in the 2nd quarter worth $55,000. Corsair Capital Management L.P. acquired a new position in shares of Oportun Financial in the 2nd quarter worth $72,000. The Manufacturers Life Insurance Company acquired a new position in shares of Oportun Financial in the 2nd quarter worth $85,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Oportun Financial in the 1st quarter worth $88,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Oportun Financial in the 2nd quarter worth $97,000. 82.70% of the stock is currently owned by institutional investors and hedge funds.

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.

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