OppFi (NYSE:OPFI) Shares Gap Up - Time to Buy?

Shares of OppFi Inc. (NYSE:OPFI - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $8.08, but opened at $8.31. OppFi shares last traded at $8.50, with a volume of 134,760 shares changing hands.

Wall Street Analyst Weigh In

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

OppFi Stock Performance

The firm's fifty day moving average is $7.01 and its 200-day moving average is $5.20. The company has a market capitalization of $739.72 million, a P/E ratio of 53.63 and a beta of 1.45.

Insiders Place Their Bets

In related news, Director Jocelyn Moore sold 23,149 shares of OppFi stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $6.70, for a total transaction of $155,098.30. Following the sale, the director now directly owns 99,072 shares in the company, valued at $663,782.40. This trade represents a 18.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Vennettilli sold 22,301 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $7.68, for a total transaction of $171,271.68. Following the completion of the transaction, the director now owns 121,524 shares of the company's stock, valued at approximately $933,304.32. This trade represents a 15.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,450 shares of company stock valued at $971,370. 84.00% of the stock is currently owned by insiders.

Institutional Trading of OppFi

Institutional investors have recently modified their holdings of the business. Jane Street Group LLC boosted its holdings in OppFi by 28.9% in the third quarter. Jane Street Group LLC now owns 25,842 shares of the company's stock valued at $122,000 after acquiring an additional 5,795 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of OppFi during the third quarter worth $60,000. Geode Capital Management LLC raised its stake in OppFi by 4.7% during the third quarter. Geode Capital Management LLC now owns 401,122 shares of the company's stock worth $1,897,000 after buying an additional 18,149 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in OppFi by 120.5% in the second 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 boosted its position in 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 during 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.