Opportunity Financial’s Lending Director sold $31,931 worth of Investing.com stock

Patrick Kirst, Chief Credit Officer Oportun Financial Corp (NASDAQ:), recently sold 8,403 shares of the company’s common stock. The company, which has seen a strong price return of 29.69% in the last six months, maintains strong liquidity with a current ratio of 22.8k. According to InvestingPro analysis, analysts expect net income growth this year. The shares were sold at prices ranging from $3.78 to $3.835 per share, for a total transaction value of $31,931. After this sale, Kiršt retains direct ownership of 333,360 shares. In addition, he has indirect ownership of 2,900 shares each for his two children, according to the filing. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which provides in-depth analysis of 1,400+ US stocks.

In other recent news, Opportunity Financial has announced a number of strategic financial moves. The company reported significant growth and cost efficiencies in its third quarter 2024 earnings, with adjusted EBITDA rising to $31 million, beating guidance by 21%, and adjusted net income reaching $0.9 million. Operating expenses decreased to $102 million, a 17% year-over-year decrease. The company has also expanded its borrowing capacity to approximately $429.03 million through its subsidiary, Opportunity PLV Trust, with a view to strengthening its financial position.

Furthermore, Opportunity Financial entered into a new loan agreement and issued warrants to affiliates of investment firms Castlelake LP and Neuberger Berman. The Company also entered into a Registration Rights Agreement, requiring it to file a registration statement with the US Securities and Exchange Commission for the shares underlying the warrants.

These recent developments underscore Oportun Financial’s strategic focus on cost efficiency, loan quality and strategic transactions. The company expects full-year 2024 revenue to be between $997 million and $1.001 billion, with adjusted EBITDA guidance set at $92 million to $94 million. Looking ahead, the company predicted a strong close to 2024, with an optimistic outlook for 2025, forecasting diluted EPS between $0.25 and $0.50 for 2025 and an annualized net charge rate between 11% and 12%.

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