Oportun Financial (OPRT) Generated Positive Returns in Q2
ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Value Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed the Russell 2000 value Index in the second quarter. On an absolute basis, the strategy gained all 11 sectors it invested in during the quarter. IT and industrial sectors were the leading contributors while the utility sector detracted. Overall stock selection improved performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Small Cap Value Strategy highlighted stocks like Oportun Financial Corporation (NASDAQ:OPRT) in the second quarter 2023 investor letter. Headquartered in San Carlos, California, Oportun Financial Corporation (NASDAQ:OPRT) provides financial services. On September 20, 2023, Oportun Financial Corporation (NASDAQ:OPRT) stock closed at $7.50 per share. One-month return of Oportun Financial Corporation (NASDAQ:OPRT) was 7.91%, and its shares gained 54.32% of their value over the last 52 weeks. Oportun Financial Corporation (NASDAQ:OPRT) has a market capitalization of $255.333 million.
ClearBridge Small Cap Value Strategy made the following comment about Oportun Financial Corporation (NASDAQ:OPRT) in its Q2 2023 investor letter:
"However, our top performers in the financials sector proved to be consumer-facing credit lenders, PROG and Oportun Financial Corporation (NASDAQ:OPRT), which benefited as economic resiliency bolstered optimism for greater demand from customers. Likewise, Oportun Financial, which provides financial services through personal loans, auto loans and credit cards, generated positive returns after exceeding analysts’ expectations on top-line revenue, supported by an increase in customers."
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Oportun Financial Corporation (NASDAQ:OPRT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 11 hedge fund portfolios held Oportun Financial Corporation (NASDAQ:OPRT) at the end of second quarter which was 11 in the previous quarter.
We discussed Oportun Financial Corporation (NASDAQ:OPRT) in another article and shared the list of fastest growing fintech companies in 2023. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
