The Vanguard Group, Inc. recently announced the acquisition of new stake in Oportun Financial Corporation (NASDAQ:OPRT). The institutional investor has increased its shareholding in the Financial company by 4.78% to 1.41 million shares with purchase of 64141.0 shares. This fresh investment now brings its stake to 4.24% valued currently at $8.5 million. In addition, Park West Asset Management LLC raised its holdings by 0.51 million to 1.15 million shares.
With over 3.05 million Oportun Financial Corporation (OPRT) shares trading Tuesday and a closing price of $2.74 on the day, the dollar volume was approximately $8.34 million. The shares have shown a negative half year performance of -53.40% and its price on 03/14/23 lost nearly -34.61%. Currently, there are 33.01M common shares owned by the public and among those 30.27M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for OPRT have a consensus price objective of $8.33. The analysts have set the share’s price value over the next 12 months at a high of $18.00 and a low of $4.00. The average price target is 74.91% above its recent price level and an upside to the estimated low will see the stock gain 31.5% over that period. But an upside of 84.78% will see the stock hit the forecast high price target while median target price for the stock is $6.00.
Insiders at the company have transacted a total of 63 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 922,820 shares. Insider sales of the common stock occurred on 17 occasions, with total insider shares sold totaling 219,408 shares.
The top 3 mutual fund holders in Oportun Financial Corporation are Virtus KAR Small Cap Growth Fund, Vanguard Total Stock Market Index, and BlackRock Global Funds – FinTech. Virtus KAR Small Cap Growth Fund owns 1.46 million shares of the company’s stock, all valued at over $8.83 million. The company sold -0.32 million shares recently to bring their total holdings to about 4.41% of the shares outstanding. BlackRock Global Funds – FinTech now owns shares totaling to 1.74% of the shares outstanding.
Shares of Oportun Financial Corporation (NASDAQ: OPRT) opened at $3.55, down -$0.64 from a prior closing price of $4.19. However, the script later moved the day high at 3.5150, down -34.61%. The company’s stock has a 5-day price change of -48.40% and -50.00% over the past three months. OPRT shares are trading -50.27% year to date (YTD), with the 12-month market performance down to -79.00% lower. It has a 12-month low price of $4.00 and touched a high of $14.91 over the same period. OPRT has an average intraday trading volume of 250.62K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -53.76%, -55.83%, and -59.07% respectively.
Institutional ownership of Oportun Financial Corporation (NASDAQ: OPRT) shares accounts for 72.10% of the company’s 33.01M shares outstanding. Mutual fund holders own 23.16%, while other institutional holders and individual stakeholders account for 32.09% and 16.80% respectively.
It has a market capitalization of $105.65M and a beta (3y monthly) value of 1.75. The earnings-per-share (ttm) stands at -$1.62. The company has a debt-to-equity ratio at 5.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 15.19% over the week and 7.95% over the month.
Analysts forecast that Oportun Financial Corporation (OPRT) will achieve an EPS of $0.25 for the current quarter, $0.37 for the next quarter and $1.92 for 2023. The lowest estimate earnings-per-share for the quarter is $0.22 while analysts give the company a high EPS estimate of $0.27. Comparatively, EPS for the current quarter was $0.82 a year ago. Earnings per share for the fiscal year are expected to increase by 198.10%, and -11.94% over the next financial year. EPS should shrink at an annualized rate of -3.80% over the next five years, compared to 56.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Oportun Financial Corporation (OPRT) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 2 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the OPRT, a number of firms have released research notes about the stock. Keefe Bruyette stated their Mkt Perform rating for the stock in a research note on March 14, 2023, with the firm’s price target at $9-$4. Barclays coverage for the Oportun Financial Corporation (OPRT) stock in a research note released on January 06, 2023 offered a Equal Weight rating with a price target of $6. Loop Capital was of a view on March 14, 2022 that the stock is Buy, while JP Morgan gave the stock Overweight rating on January 19, 2022, issuing a price target of $27- $23. JP Morgan on their part issued Neutral rating on January 17, 2020.
