OppFi (NYSE:OPFI) Shares Gap Up - Here's Why

OppFi Inc. (NYSE:OPFI - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $11.02, but opened at $11.65. OppFi shares last traded at $11.31, with a volume of 486,899 shares changing hands.

Wall Street Analysts Forecast Growth

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

OppFi Trading Up 8.2 %

The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 74.52 and a beta of 1.45. The company has a fifty day moving average price of $8.00 and a 200-day moving average price of $5.76.

OppFi (NYSE:OPFI - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.12. OppFi had a net margin of 1.40% and a return on equity of 35.04%. The firm had revenue of $136.59 million during the quarter, compared to analysts' expectations of $128.94 million. During the same period in the previous year, the company earned $0.16 earnings per share. As a group, sell-side analysts predict that OppFi Inc. will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling

In other 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 value of $155,098.30. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Vennettilli sold 22,301 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $7.68, for a total transaction of $171,271.68. Following the completion of the sale, the director now owns 121,524 shares of the company's stock, valued at $933,304.32. The trade was a 15.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 145,450 shares of company stock worth $971,370. Corporate insiders own 84.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Segall Bryant & Hamill LLC bought a new stake in OppFi during the third quarter valued at about $2,457,000. Barclays PLC boosted its stake in OppFi by 95.9% during the 3rd quarter. Barclays PLC now owns 42,141 shares of the company's stock valued at $199,000 after purchasing an additional 20,630 shares during the period. Geode Capital Management LLC grew its holdings in OppFi by 4.7% in the 3rd 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. Jane Street Group LLC increased its position in OppFi by 28.9% in 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. Finally, Brendel Financial Advisors LLC acquired a new position in shares of OppFi during the third quarter worth approximately $105,000. Institutional investors own 7.10% of the company's stock.

OppFi Company Profile

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.