OppFi (NYSE:OPFI) Trading Down 4.5% – Should You Sell?

OppFi Inc. (NYSE:OPFI)’s share price dropped 4.5% during trading on Monday . The stock traded as low as $13.40 and last traded at $13.55. Approximately 342,928 shares changed hands during trading, a decline of 62% from the average daily volume of 899,967 shares. The stock had previously closed at $14.18.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Northland Securities set a $13.00 price target on shares of OppFi in a research report on Thursday, March 6th. Citizens Jmp raised shares of OppFi from a “market perform” rating to an “outperform” rating and set a $13.50 price objective for the company in a report on Thursday, May 8th. Finally, JMP Securities upgraded shares of OppFi from a “market perform” rating to a “market outperform” rating and set a $13.50 target price on the stock in a research note on Thursday, May 8th.

OppFi Stock Performance

The stock has a fifty day moving average price of $10.44 and a two-hundred day moving average price of $10.14. The firm has a market capitalization of $1.19 billion, a P/E ratio of 85.44 and a beta of 1.73.

OppFi (NYSE:OPFI) last issued its earnings results on Wednesday, May 7th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. OppFi had a net margin of 1.40% and a return on equity of 35.04%. The company had revenue of $140.27 million for the quarter, compared to analysts’ expectations of $137.71 million. As a group, research analysts anticipate that OppFi Inc. will post 0.86 earnings per share for the current fiscal year.

OppFi Announces Dividend

The company also recently announced a special dividend, which was paid on Friday, April 18th. Shareholders of record on Tuesday, April 8th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, April 8th.

Insider Buying and Selling at OppFi

In other OppFi news, Director David Vennettilli sold 30,762 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $9.09, for a total transaction of $279,626.58. Following the transaction, the director now owns 90,762 shares of the company’s stock, valued at approximately $825,026.58. This trade represents a 25.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher J. Mckay sold 10,377 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $9.00, for a total transaction of $93,393.00. Following the sale, the insider now owns 248,175 shares in the company, valued at $2,233,575. This trade represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,374,418 shares of company stock worth $13,725,493. 72.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers increased its position in shares of OppFi by 23.3% during the 1st quarter. Rhumbline Advisers now owns 19,362 shares of the company’s stock valued at $180,000 after purchasing an additional 3,662 shares during the period. Everstar Asset Management LLC acquired a new position in OppFi during the first quarter worth about $202,000. Goldman Sachs Group Inc. raised its position in OppFi by 191.3% in the first quarter. Goldman Sachs Group Inc. now owns 189,961 shares of the company’s stock worth $1,767,000 after acquiring an additional 124,744 shares in the last quarter. Bosun Asset Management LLC acquired a new stake in OppFi in the 1st quarter valued at about $509,000. Finally, Quarry LP bought a new position in shares of OppFi during the 1st quarter valued at about $27,000. Institutional investors and hedge funds own 7.10% of the company’s stock.

OppFi Company Profile

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.