Oportun Financial (NASDAQ:OPRT) Downgraded to Hold Rating by Zacks Research

Key Points

• Zacks Research downgraded Oportun Financial from a "strong-buy" rating to a "hold" rating, reflecting a shift in analyst sentiment towards the stock.
• JPMorgan Chase revised its target price for Oportun Financial to $6.00, down from $8.00, indicating concerns about the company's performance.
• Insider Kathleen I. Layton sold 4,214 shares, decreasing their ownership by 2.58%, which may raise questions about confidence in the company's future prospects.

Oportun Financial (NASDAQ:OPRT - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Several other research firms have also commented on OPRT. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $6.00 target price (down previously from $8.00) on shares of Oportun Financial in a report on Tuesday. Weiss Ratings reissued a "sell (d-)" rating on shares of Oportun Financial in a report on Saturday, September 27th. Stephens began coverage on shares of Oportun Financial in a report on Thursday, June 12th. They issued an "overweight" rating and a $10.00 price target on the stock. Finally, Wall Street Zen raised shares of Oportun Financial from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $8.67.

Oportun Financial Stock Performance

Oportun Financial stock opened at $5.41 on Monday. The firm's fifty day moving average price is $6.31 and its 200-day moving average price is $6.17. The stock has a market cap of $238.09 million, a P/E ratio of -27.05 and a beta of 1.30. Oportun Financial has a fifty-two week low of $2.40 and a fifty-two week high of $9.24.

Insider Transactions at Oportun Financial

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 shares were sold at an average price of $6.64, for a total value of $27,980.96. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. State of Wyoming purchased a new position in Oportun Financial in the second quarter worth about $783,000. Cannell Capital LLC raised its holdings in Oportun Financial by 7,067.0% in the second quarter. Cannell Capital LLC now owns 1,601,244 shares of the company's stock worth $11,465,000 after buying an additional 1,578,902 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Oportun Financial by 1,266.5% in the second quarter. BNP Paribas Financial Markets now owns 89,286 shares of the company's stock worth $639,000 after buying an additional 82,752 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in Oportun Financial by 4.7% in the second quarter. Bridgeway Capital Management LLC now owns 262,911 shares of the company's stock worth $1,882,000 after buying an additional 11,731 shares during the last quarter. Finally, PDT Partners LLC raised its holdings in Oportun Financial by 79.6% in the second quarter. PDT Partners LLC now owns 55,008 shares of the company's stock worth $394,000 after buying an additional 24,379 shares during the last quarter. 82.70% of the stock is owned by hedge funds and other institutional investors.

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.

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