Jonathan Coblentz, the Chief Financial Officer and Chief Administrative Officer of Oportun Financial Corp (NASDAQ:OPRT), has recently increased his stake in the company. According to a recent SEC filing, Coblentz purchased a total of 25,500 shares of common stock in two separate transactions on November 27 and November 29. The insider purchase comes as InvestingPro data shows the stock trading at an attractive Price/Book ratio of 0.41, with the shares delivering impressive returns of 15% in the past week and 53% over the last year.
The shares were acquired at prices ranging from $3.88 to $3.91, totaling approximately $99,681. Following these transactions, Coblentz now holds a direct interest in 298,280 shares, with an additional 232,482 shares held indirectly. The indirect shares are held in the Jonathan A. Coblentz Revocable Trust, for which he is the trustee. With analyst price targets ranging from $3.50 to $8.00, InvestingPro subscribers can access 12 additional exclusive insights about OPRT's valuation and growth prospects through the comprehensive Pro Research Report.
In other recent news, Oportun Financial Corp has reported significant growth and cost efficiency in its Q3 earnings for 2024. The company's adjusted EBITDA rose to $31 million, surpassing guidance by 21%, and its adjusted net income reached $0.9 million. In addition, Oportun Financial has expanded its borrowing capacity to approximately $429.03 million, a strategic move to bolster its financial position and support its operational initiatives. The company also entered into a new credit agreement and issued warrants to affiliates of investment firms Castlelake L.P. and Neuberger Berman. These recent developments indicate Oportun Financial's strategic focus on cost efficiency, credit quality, and strategic transactions. The company projects total revenue for the full year of 2024 to be between $997 million and $1.001 billion, with adjusted EBITDA guidance set at $92 million to $94 million. For 2025, it forecasts a diluted EPS between $0.25 and $0.50 and an annualized net charge-off rate between 11% and 12%.
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