Oportun Financial Co. (NASDAQ:OPRT) Sees Significant Decline in Short Interest

Oportun Financial Co. (NASDAQ:OPRT) was the target of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 139,000 shares, a decrease of 13.4% from the August 31st total of 160,600 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average trading volume of 139,600 shares, the short-interest ratio is currently 1.0 days.

Analysts Set New Price Targets

Several research analysts recently issued reports on OPRT shares. JMP Securities restated a “market perform” rating on shares of Oportun Financial in a research report on Monday, August 12th. Singular Research upgraded Oportun Financial to a “strong-buy” rating in a research note on Friday, September 20th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Oportun Financial currently has a consensus rating of “Moderate Buy” and an average target price of $5.70.

Oportun Financial Price Performance

Shares of NASDAQ OPRT opened at $2.74 on Friday. Oportun Financial has a 1 year low of $2.05 and a 1 year high of $7.41. The company’s fifty day moving average price is $2.93 and its 200 day moving average price is $2.95.

Oportun Financial (NASDAQ:OPRT) last posted its earnings results on Thursday, August 8th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.28. The firm had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $246.12 million. Oportun Financial had a negative return on equity of 11.04% and a negative net margin of 11.66%. As a group, analysts anticipate that Oportun Financial will post 0.15 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. SkyView Investment Advisors LLC increased its stake in shares of Oportun Financial by 28.6% during the second quarter. SkyView Investment Advisors LLC now owns 67,500 shares of the company’s stock worth $196,000 after purchasing an additional 15,000 shares in the last quarter. Long Focus Capital Management LLC raised its holdings in shares of Oportun Financial by 6.0% during the second quarter. Long Focus Capital Management LLC now owns 1,740,777 shares of the company’s stock valued at $5,048,000 after acquiring an additional 99,197 shares during the last quarter. Millennium Management LLC lifted its position in shares of Oportun Financial by 26.4% in the second quarter. Millennium Management LLC now owns 1,507,012 shares of the company’s stock valued at $4,370,000 after acquiring an additional 314,553 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Oportun Financial by 53.3% in the second quarter. Marshall Wace LLP now owns 274,969 shares of the company’s stock worth $797,000 after acquiring an additional 95,637 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Oportun Financial by 16.1% during the second quarter. Renaissance Technologies LLC now owns 227,000 shares of the company’s stock worth $658,000 after purchasing an additional 31,415 shares in the last quarter. Hedge funds and other institutional investors own 82.70% of the company’s stock.

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.