OppFi (NYSE:OPFI) Shares Up 5.1% – Here’s Why

OppFi Inc. (NYSE:OPFI) shares traded up 5.1% during mid-day trading on Wednesday . The company traded as high as $9.34 and last traded at $9.60. 76,655 shares traded hands during trading, a decline of 97% from the average session volume of 2,252,476 shares. The stock had previously closed at $9.14.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JMP Securities cut OppFi from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Citizens Jmp downgraded OppFi from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Northland Securities set a $13.00 price objective on OppFi in a research note on Thursday, March 6th.

OppFi Stock Performance

The company’s fifty day simple moving average is $11.67 and its two-hundred day simple moving average is $8.00. The company has a market capitalization of $857.40 million, a price-to-earnings ratio of 62.16 and a beta of 1.63.

OppFi (NYSE:OPFI) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.09. OppFi had a return on equity of 35.04% and a net margin of 1.40%. The business had revenue of $135.72 million during the quarter, compared to the consensus estimate of $133.50 million. During the same period last year, the firm earned $0.10 earnings per share. Sell-side analysts anticipate that OppFi Inc. will post 0.86 EPS for the current year.

Insider Transactions at OppFi

In other OppFi news, Director Theodore G. Schwartz sold 79,559 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $9.13, for a total value of $726,373.67. Following the transaction, the director now owns 186,737 shares of the company’s stock, valued at $1,704,908.81. This trade represents a 29.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Vennettilli sold 30,762 shares of OppFi stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $9.09, for a total value of $279,626.58. Following the completion of the transaction, the director now owns 90,762 shares of the company’s stock, valued at approximately $825,026.58. The trade was a 25.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 338,927 shares of company stock worth $3,153,476. 84.00% of the stock is currently owned by corporate insiders.

Institutional Trading of OppFi

Several hedge funds have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC bought a new position in OppFi during the 3rd quarter worth $2,457,000. Marshall Wace LLP grew its position in shares of OppFi by 249.2% during the fourth quarter. Marshall Wace LLP now owns 617,366 shares of the company’s stock worth $4,729,000 after acquiring an additional 440,582 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of OppFi by 52.6% in the 4th quarter. Renaissance Technologies LLC now owns 826,115 shares of the company’s stock worth $6,328,000 after acquiring an additional 284,900 shares during the period. Tudor Investment Corp ET AL increased its holdings in shares of OppFi by 310.7% in the 4th quarter. Tudor Investment Corp ET AL now owns 276,331 shares of the company’s stock worth $2,117,000 after acquiring an additional 209,045 shares during the period. Finally, Bank of America Corp DE lifted its position in OppFi by 1,745.7% in the 4th quarter. Bank of America Corp DE now owns 206,317 shares of the company’s stock valued at $1,580,000 after purchasing an additional 195,139 shares during the last quarter. Institutional investors own 7.10% of the company’s stock.

About OppFi

OppFi Inc operates a cialty finance platform that allows banks to offer credit access. Its platform facilitates the OppLoans, an installment loan product; SalaryTap, a payroll deduction secured installment loan product; and OppFi Card, a credit card product. OppFi Inc was founded in 2012 and is headquartered in Chicago, Illinois.