Oportun Financial Co. Sees Significant Drop in Short Interest

Oportun Financial Co. (NASDAQ:OPRT) experienced a notable decline in its short interest during January. As of January 15th, the short interest was recorded at 145,800 shares, representing a decrease of 16.2% from the 173,900 shares noted at the end of December. With an average daily trading volume of 180,200 shares, the current short-interest ratio stands at 0.8 days.

Insider Transactions

In a related development, the company’s CEO, Raul Vazquez, purchased 8,844 shares of Oportun Financial on November 27, acquiring them at an average price of $3.86 each, totaling $34,137.84. Following this transaction, the CEO's total shareholding in Oportun has risen to 1,257,328 shares, approximately valued at $4,853,286.08, marking a 0.71% increase in their holdings. This purchase was disclosed through a filing with the Securities and Exchange Commission.

Additionally, Director R. Neil Williams bought 25,000 shares on December 11, at an average price of $3.87 per share, amounting to $96,750.00. After this acquisition, he now owns 140,338 shares of the company, valued at roughly $543,108.06, reflecting a 21.68% growth in his shareholding. In total, insiders have purchased 41,264 shares of Oportun stock in the last 90 days, valued at $159,826, and insiders collectively own 9.30% of the company's total stock.

Institutional Investors' Activity

Recent activity among hedge funds and other institutional investors suggests significant changes in their positions within Oportun Financial. Telos Capital Management Inc. initiated a new position in Oportun during the fourth quarter, investing approximately $52,000. Similarly, Connor Clark & Lunn Investment Management Ltd. acquired a new position in the third quarter, also worth about $52,000.

SkyView Investment Advisors LLC reported a 59.3% increase in its stake during the third quarter, now holding 107,500 shares after purchasing an additional 40,000 shares, valued at $302,000. Empowered Funds LLC also expanded its position by 5.4% during the third quarter, now owning 110,620 shares, valuing around $311,000 after buying 5,628 more shares. Lastly, Renaissance Technologies LLC grew its position by 16.1% during the second quarter, owning 227,000 shares worth approximately $658,000 following the purchase of an additional 31,415 shares. Currently, 82.70% of Oportun Financial's stock is held by institutional investors and hedge funds.

Stock Performance

On Friday, shares of Oportun Financial (NASDAQ:OPRT) rose by 12.2%, trading at $4.60. The day's trading volume totaled 369,264 shares, exceeding the average volume of 183,892. The company currently has a 50-day and 200-day moving average price of $3.90 and $3.23, respectively. Oportun Financial’s market capitalization is approximately $165.51 million, with a P/E ratio of -1.39 and a beta of 1.15. Over the past year, the stock has seen a low of $2.05 and a high of $4.62.

About Oportun Financial

Oportun Financial Corporation is engaged in providing financial services, including personal loans and credit cards. The company offers its services to customers through online channels, over the phone, and at both retail and Lending as a Service partner locations. Established in 2005 and based in San Carlos, California, Oportun aims to provide accessible financial options to underserved communities.

Investment Considerations

Before considering an investment in Oportun Financial, it’s essential to stay informed on the market landscape. Analysts have rated Oportun Financial with a "Moderate Buy" but suggest looking into other stocks that top analysts currently favor. While Oportun is indexed, there may be better investment opportunities available in the market.

Oportun, Financial, Stocks