OppFi (NYSE:OPFI) Shares Gap Up - Still a Buy?

OppFi Inc. (NYSE:OPFI - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $9.29, but opened at $10.00. OppFi shares last traded at $9.69, with a volume of 743,752 shares trading hands.

Analyst Ratings Changes

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

OppFi Trading Up 5.2 %

The firm has a market capitalization of $842.31 million, a price-to-earnings ratio of 61.07 and a beta of 1.45. The company has a 50-day moving average of $7.29 and a 200-day moving average of $5.39.

Insider Transactions at OppFi

In related news, Director David Vennettilli sold 22,301 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $7.68, for a total value of $171,271.68. Following the completion of the transaction, the director now owns 121,524 shares in the company, valued at $933,304.32. This trade represents a 15.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jocelyn Moore sold 23,149 shares of the stock in a transaction 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 completion of the transaction, the director now owns 99,072 shares of the company's stock, valued at $663,782.40. This trade represents a 18.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,450 shares of company stock valued at $971,370. 84.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OppFi

A number of institutional investors have recently bought and sold shares of OPFI. Quadrature Capital Ltd acquired a new stake in shares of OppFi during the 3rd quarter valued at about $60,000. Brendel Financial Advisors LLC acquired a new stake in shares of OppFi during the 3rd quarter valued at about $105,000. Jane Street Group LLC lifted its holdings in shares of 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 buying an additional 5,795 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of OppFi by 120.5% during 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 last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of OppFi during the 3rd quarter valued at about $136,000. 7.10% of the stock is currently owned by institutional investors and hedge funds.

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.