OppFi (NYSE:OPFI) Sets New 12-Month High - Here's Why

Shares of OppFi Inc. (NYSE:OPFI - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $9.40 and last traded at $8.81, with a volume of 1132820 shares. The stock had previously closed at $8.22.

Analyst Upgrades and Downgrades

Separately, Northland Securities lifted their target price on OppFi from $8.00 to $10.00 and gave the company an "outperform" rating in a research report on Friday, December 13th.

OppFi Stock Up 12.7 %

The stock's fifty day moving average is $7.21 and its two-hundred day moving average is $5.32. The firm has a market capitalization of $798.34 million, a price-to-earnings ratio of 57.88 and a beta of 1.45.

Insiders Place Their Bets

In related news, Director Jocelyn Moore sold 23,149 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $6.70, for a total value of $155,098.30. Following the transaction, the director now owns 99,072 shares in the company, valued at approximately $663,782.40. This trade represents a 18.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Vennettilli sold 100,000 shares of the business's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $6.45, for a total transaction of $645,000.00. Following the completion of the transaction, the director now owns 143,825 shares of the company's stock, valued at $927,671.25. The trade was a 41.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 145,450 shares of company stock valued at $971,370 over the last 90 days. 84.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OPFI. Jane Street Group LLC boosted its position in OppFi by 28.9% during the 3rd quarter. Jane Street Group LLC now owns 25,842 shares of the company's stock worth $122,000 after buying an additional 5,795 shares during the period. Quadrature Capital Ltd acquired a new position in OppFi in the third quarter valued at approximately $60,000. Geode Capital Management LLC lifted its position in shares of OppFi by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 401,122 shares of the company's stock valued at $1,897,000 after acquiring an additional 18,149 shares during the period. Bank of New York Mellon Corp grew its stake in shares of OppFi by 120.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company's stock valued at $124,000 after buying an additional 20,048 shares during the period. Finally, Barclays PLC increased its holdings in shares of OppFi by 95.9% during the third quarter. Barclays PLC now owns 42,141 shares of the company's stock valued at $199,000 after acquiring an additional 20,630 shares in 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.