Weiss Ratings Reaffirms Sell (D-) Rating for Oportun Financial (NASDAQ:OPRT)

Key Points

• Weiss Ratings has reaffirmed a sell (D-) rating for Oportun Financial (NASDAQ:OPRT), indicating ongoing concerns about the company's financial performance.
• In recent brokerage reports, Oportun was downgraded by Zacks Research from a strong-buy to a hold rating, while JPMorgan Chase & Co. set a price target of $6.00, down from $8.00.
• Insider Kathleen I. Layton sold 4,214 shares at an average price of $6.64, reducing her ownership, while institutional investors currently hold 82.70% of the company’s stock.

Oportun Financial (NASDAQ:OPRT - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other brokerages also recently issued reports on OPRT. Zacks Research downgraded Oportun Financial from a "strong-buy" rating to a "hold" rating in a report on Monday. 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 report on Tuesday. Wall Street Zen raised Oportun Financial from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Stephens assumed coverage on Oportun Financial in a report on Thursday, June 12th. They set an "overweight" rating and a $10.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $8.67.

Oportun Financial Trading Up 0.7%

Oportun Financial stock opened at $5.45 on Wednesday. The business's fifty day simple moving average is $6.29 and its two-hundred day simple moving average is $6.16. Oportun Financial has a 12 month low of $2.40 and a 12 month high of $9.24. The company has a market capitalization of $239.85 million, a price-to-earnings ratio of -27.25 and a beta of 1.30.

Insiders Place Their Bets

In related news, insider Kathleen I. Layton sold 4,214 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $6.64, for a total transaction of $27,980.96. Following the sale, the insider owned 159,184 shares of the company's stock, valued at $1,056,981.76. This represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.30% of the company's stock.

Hedge Funds Weigh In On Oportun Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Oportun Financial in the 2nd quarter worth approximately $55,000. Corsair Capital Management L.P. purchased a new position in shares of Oportun Financial in the 2nd quarter worth approximately $72,000. The Manufacturers Life Insurance Company purchased a new position in Oportun Financial during the 2nd quarter valued at $85,000. New York State Common Retirement Fund purchased a new position in Oportun Financial during the 2nd quarter valued at $97,000. Finally, Corton Capital Inc. bought a new stake in Oportun Financial during the 2nd quarter valued at $105,000. Hedge funds and other institutional investors own 82.70% of the company's stock.

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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