Long Position on OMF @ $47.00 on 2/18/2020 (Momentum)

OneMain Holdings, Inc. (OMF) provides consumer finance and insurance products and services.

The company operates in two segments, Consumer and Insurance, and Acquisitions and Servicing.

It provides secured and unsecured personal loans; credit insurance products, such as life, disability, and involuntary unemployment insurance products; non-credit insurance; and auto membership plans, as well as retail sales finance services.

The company also services and holds real estate loans secured by first or second mortgages on residential real estate.

As of December 31, 2018, it operated through a network of approximately 1,600 branches in 44 states in the United States, as well as through omf.com Website.  Shares have formed a bullish "cup and handle" and are expected to move higher.

On February 10th, Onemain Holdings reported Quarter December 2019 earnings of $1.96 per share on revenue of $1.3 billion. The consensus earnings estimate was $1.72 per share on revenue of $832.4 million. Revenue grew 14.2% on a year-over-year basis.

Entry Point: $47.00

Trading Range: $29.85 - $48.84

Stop Loss:  $44.65

Target Price: $51.70

Updates

6/1/2020 12:55:40 PM

OMF closed at $25

Position closed on 6/1/2020 at price of $25.00 with a -46.81% loss in 104 days.

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