SAN CARLOS, Calif.—Mueller Casey, the Global Controller and Principal Accounting Officer of Oportun Financial Corp (NASDAQ:OPRT), recently sold 2,962 shares of the company's common stock. The shares were sold at a price of $4.01 each, totaling approximately $11,877. The sale occurred near the stock's 52-week high of $4.60, with the shares showing strong momentum, up nearly 30% over the past six months. Following this transaction, Casey retains ownership of 197,940 shares. This transaction was disclosed in a filing with the Securities and Exchange Commission. According to InvestingPro analysis, Oportun Financial, with a market cap of $140 million, currently appears undervalued based on its Fair Value metrics. The company maintains a "GOOD" Financial Health score, supported by strong cash flow performance. For deeper insights into OPRT's valuation and 12 additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Oportun Financial Corp has reported significant strides in its Q3 earnings for 2024, with adjusted EBITDA and net income surpassing expectations. The company's adjusted EBITDA rose to $31 million, exceeding guidance by 21%, and its adjusted net income reached $0.9 million. Operating expenses were reduced to $102 million, a 17% year-over-year decrease. Additionally, the company has expanded its borrowing capacity to approximately $429.03 million, a strategic move to bolster its financial position and support its operational initiatives.
In a recent development, Oportun Financial entered into a new credit agreement and issued warrants to affiliates of investment firms Castlelake L.P. and Neuberger Berman. The company has also committed to a Registration Rights Agreement, obligating it to file a registration statement with the U.S. Securities and Exchange Commission for the shares underlying the warrants.
For the full year of 2024, Oportun Financial projects total revenue to be between $997 million and $1.001 billion, with adjusted EBITDA guidance set at $92 million to $94 million. The company forecasts a strong close to 2024 and an optimistic outlook for 2025, with a projected diluted EPS between $0.25 and $0.50 for 2025 and an annualized net charge-off rate between 11% and 12%.
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