OppFi (NYSE:OPFI) Shares Up 8.1% – Here’s Why

OppFi Inc. (NYSE:OPFI) shares were up 8.1% during mid-day trading on Tuesday . The stock traded as high as $8.46 and last traded at $8.4750. Approximately 147,884 shares traded hands during trading, a decline of 73% from the average daily volume of 541,299 shares. The stock had previously closed at $7.84.

Wall Street Analyst Weigh In

A number of equities analysts have commented on OPFI shares. Wall Street Zen raised OppFi from a “buy” rating to a “strong-buy” rating in a report on Saturday. Stephens lifted their target price on shares of OppFi from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings upgraded shares of OppFi from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Finally, Citizens Jmp lowered their price target on shares of OppFi from $16.00 to $15.00 and set a “market outperform” rating on the stock in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.00.

OppFi Trading Up 7.7%

The business’s 50 day moving average price is $8.50 and its 200-day moving average price is $9.24. The company has a market cap of $721.12 million, a price-to-earnings ratio of 9.09 and a beta of 1.79.

OppFi (NYSE:OPFI) last announced its earnings results on Thursday, May 7th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $87.30 million for the quarter, compared to analysts’ expectations of $151.14 million. OppFi had a net margin of 10.86% and a return on equity of 39.90%. Equities research analysts forecast that OppFi Inc. will post 1.8 EPS for the current fiscal year.

Insider Buying and Selling at OppFi

In related news, Director Jocelyn Moore sold 8,190 shares of OppFi stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $8.53, for a total value of $69,860.70. Following the completion of the transaction, the director directly owned 39,076 shares in the company, valued at approximately $333,318.28. The trade was a 17.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Vennettilli sold 10,000 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of the transaction, the director directly owned 132,389 shares in the company, valued at approximately $1,323,890. The trade was a 7.02% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 70.20% of the company’s stock.

Hedge Funds Weigh In On OppFi

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of OppFi by 163.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 780,258 shares of the company’s stock valued at $8,840,000 after purchasing an additional 483,859 shares during the last quarter. Diversify Advisory Services LLC grew its stake in shares of OppFi by 98.9% during the third quarter. Diversify Advisory Services LLC now owns 321,636 shares of the company’s stock valued at $3,644,000 after buying an additional 159,895 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of OppFi by 1,462.8% in the third quarter. Quantbot Technologies LP now owns 135,382 shares of the company’s stock worth $1,534,000 after buying an additional 126,719 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of OppFi by 23.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,912 shares of the company’s stock valued at $270,000 after acquiring an additional 4,760 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in OppFi during the 4th quarter valued at about $172,000. Institutional investors own 7.10% of the company’s stock.

OppFi Company Profile

OppFi (NYSE: OPFI) is a financial technology company that provides digital lending and credit solutions designed to meet the needs of near-prime consumers in the United States. Through its technology-driven platform, OppFi offers unsecured installment loans under the OppLoans brand, allowing borrowers to access credit online or via mobile devices. The company leverages proprietary data analytics and machine learning models to assess credit risk, streamline underwriting processes and deliver personalized loan products with transparent terms.

Headquartered in Chicago, Illinois, OppFi was founded in 2013 with a mission to increase financial inclusion for underserved and underbanked populations.