OppFi (NYSE:OPFI) Sees Strong Trading Volume - Should You Buy?

Shares of OppFi Inc. (NYSE:OPFI - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 365,787 shares changed hands during mid-day trading, an increase of 16% from the previous session's volume of 315,897 shares.The stock last traded at $8.38 and had previously closed at $7.66.

Analysts Set New Price Targets

Separately, Northland Securities upped their price objective 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 5.5 %

The company has a market cap of $696.61 million, a PE ratio of 50.50 and a beta of 1.45. The business's fifty day moving average is $6.88 and its 200-day moving average is $5.14.

Insider Transactions at OppFi

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

Institutional Trading of OppFi

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC raised its stake in OppFi by 28.9% during the 3rd quarter. Jane Street Group LLC now owns 25,842 shares of the company's stock valued at $122,000 after purchasing an additional 5,795 shares during the period. Quadrature Capital Ltd purchased a new stake in OppFi during the 3rd quarter valued at approximately $60,000. Geode Capital Management LLC raised its position in shares of OppFi by 4.7% during the third quarter. Geode Capital Management LLC now owns 401,122 shares of the company's stock valued at $1,897,000 after buying an additional 18,149 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of OppFi by 120.5% in the second quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company's stock worth $124,000 after buying an additional 20,048 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of OppFi by 95.9% during the third quarter. Barclays PLC now owns 42,141 shares of the company's stock worth $199,000 after acquiring an additional 20,630 shares during the last quarter. 7.10% of the stock is owned by hedge funds and other institutional investors.

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.