Significant Drop in Short Interest for Oportun Financial Co. (NASDAQ:OPRT)

Oportun Financial Co. (NASDAQ:OPRT) experienced a notable reduction in short interest during January. By January 15th, the total short interest had decreased to 145,800 shares, marking a decline of 16.2% from the prior count of 173,900 shares recorded on December 31st. With an average daily trading volume of 180,200 shares, the current short-interest ratio stands at 0.8 days.

Insider Transactions

In related developments, CEO Raul Vazquez purchased 8,844 shares of Oportun Financial on November 27th, with each share priced at an average of $3.86, amounting to a total investment of $34,137.84. Post-purchase, the CEO now holds 1,257,328 shares, which have a market value of around $4,853,286.08, representing a 0.71% increase in their shareholding. This transaction was formally reported to the Securities and Exchange Commission. Furthermore, Director R Neil Williams acquired 25,000 shares on December 11th, purchasing them at an average price of $3.87, totaling $96,750. After this transaction, Williams directly owns 140,338 shares valued at approximately $543,108.06, which is a 21.68% increase in their stake. Over the last three months, insiders have accumulated 41,264 shares valued at $159,826, with insiders now owning 9.30% of the company's total shares.

Institutional Investor Activity

Recent maneuvering by hedge funds and institutional investors has also influenced Oportun Financial's stock. Telos Capital Management Inc. entered a new position in Oportun during the fourth quarter, investing about $52,000. Similarly, Connor Clark & Lunn Investment Management Ltd. did the same in the third quarter for a comparable amount. In the third quarter, SkyView Investment Advisors LLC increased its stake by 59.3%, now owning 107,500 shares worth approximately $302,000 after acquiring an additional 40,000 shares. Empowered Funds LLC also raised its position by 5.4% during the third quarter, now holding 110,620 shares valued at around $311,000, following a purchase of 5,628 shares. Furthermore, Renaissance Technologies LLC added to its holdings by 16.1% in the second quarter, bringing their total to 227,000 shares worth $658,000 after adding 31,415 shares. Currently, institutional investors and hedge funds collectively own 82.70% of Oportun Financial's stock.

Stock Performance Overview

On Friday, Oportun Financial's shares traded up by $0.50 to reach $4.60. During this trading session, a total of 369,264 shares changed hands, exceeding the average volume of 183,892 shares. The company’s stock price is backed by a 50-day moving average of $3.90 and a 200-day moving average of $3.23. Oportun Financial has a market capitalization of $165.51 million, a price-to-earnings ratio of -1.39, and a beta of 1.15. In the past year, the stock has fluctuated, recording a low of $2.05 and a high of $4.62.

Company Background

Oportun Financial Corporation specializes in providing a range of financial services, including personal loans and credit cards. The company reaches customers through various channels such as online platforms, telephone services, and through physical retail partner locations. Established in 2005, the company’s headquarters is in San Carlos, California.

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