OppFi Inc. (NYSE:OPFI - Get Free Report)'s stock price gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $9.35, but opened at $11.25. OppFi shares last traded at $10.02, with a volume of 1,449,616 shares.
The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.09. OppFi had a return on equity of 35.04% and a net margin of 1.40%. The firm had revenue of $135.72 million for the quarter, compared to analyst estimates of $133.50 million. During the same period last year, the company earned $0.10 earnings per share.
Wall Street Analyst Weigh In
Several brokerages have weighed in on OPFI. JMP Securities lowered OppFi from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 12th. Northland Securities increased their target price on OppFi from $8.00 to $10.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Finally, Citizens Jmp lowered OppFi from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 12th.
Get Our Latest Report on OPFI
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of OPFI. Los Angeles Capital Management LLC bought a new position in shares of OppFi in the third quarter worth $355,000. Segall Bryant & Hamill LLC bought a new position in shares of OppFi in the third quarter worth $2,457,000. Quadrature Capital Ltd bought a new position in shares of OppFi in the third quarter worth $60,000. Jane Street Group LLC boosted its stake in OppFi by 28.9% during the third quarter. Jane Street Group LLC now owns 25,842 shares of the company's stock valued at $122,000 after buying an additional 5,795 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in OppFi during the third quarter valued at about $136,000. Institutional investors own 7.10% of the company's stock.
OppFi Stock Down 0.5 %
The company has a 50 day moving average of $11.41 and a two-hundred day moving average of $7.72. The firm has a market cap of $831.28 million, a P/E ratio of 60.27 and a beta of 1.63.
OppFi Company Profile
(
Get Free Report)
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.
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