JPMorgan Chase & Co. Cuts Oportun Financial (NASDAQ:OPRT) Price Target to $5.50

Oportun Financial (NASDAQ:OPRT) had its price target cut by JPMorgan Chase & Co. from $6.00 to $5.50 in a research note published on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Oportun Financial in a report on Monday, December 1st. Zacks Research downgraded Oportun Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Wall Street Zen cut shares of Oportun Financial from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Two 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 company currently has a consensus rating of “Hold” and an average target price of $8.50.

Oportun Financial Stock Up 1.1%

NASDAQ:OPRT opened at $5.33 on Thursday. The business’s 50-day moving average price is $5.24 and its 200 day moving average price is $6.10. Oportun Financial has a 52-week low of $3.45 and a 52-week high of $9.24. The firm has a market cap of $235.21 million, a P/E ratio of 8.08 and a beta of 1.24.

Oportun Financial (NASDAQ:OPRT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.13. Oportun Financial had a net margin of 3.19% and a return on equity of 17.61%. The firm had revenue of $238.69 million for the quarter, compared to analyst estimates of $238.52 million. Sell-side analysts expect that Oportun Financial will post 0.94 EPS for the current year.

Insider Buying and Selling at Oportun Financial

In other news, insider Kathleen I. Layton sold 4,214 shares of the stock in a transaction that occurred on 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 sale, the insider directly 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 can be accessed through this link. 9.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Oportun Financial during the 2nd quarter valued at $55,000. Corsair Capital Management L.P. acquired a new stake in Oportun Financial during the second quarter valued at $72,000. Virtu Financial LLC purchased a new position in Oportun Financial in the third quarter valued at about $64,000. The Manufacturers Life Insurance Company acquired a new position in Oportun Financial in the 2nd quarter worth about $85,000. Finally, PharVision Advisers LLC purchased a new stake in shares of Oportun Financial during the 3rd quarter worth about $77,000. Institutional investors and hedge funds 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.