Shares of OppFi Inc. (NYSE:OPFI - Get Free Report) shot up 5.1% on Wednesday . The company traded as high as $9.34 and last traded at $9.60. 76,655 shares were traded during mid-day trading, a decline of 97% from the average session volume of 2,252,476 shares. The stock had previously closed at $9.14.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Northland Securities set a $13.00 price target on shares of OppFi in a research note on Thursday, March 6th. Citizens Jmp cut shares of OppFi from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 12th. Finally, JMP Securities downgraded OppFi from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 12th.
Get Our Latest Research Report on OppFi
OppFi Stock Performance
The company has a market capitalization of $842.74 million, a PE ratio of 61.10 and a beta of 1.63. The company's 50-day simple moving average is $11.68 and its 200-day simple moving average is $8.08.
OppFi (NYSE:OPFI - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.09. The firm had revenue of $135.72 million for the quarter, compared to analyst estimates of $133.50 million. OppFi had a return on equity of 35.04% and a net margin of 1.40%. During the same quarter last year, the company posted $0.10 earnings per share. Analysts expect that OppFi Inc. will post 0.86 EPS for the current year.
Insider Buying and Selling at OppFi
In related news, Director Theodore G. Schwartz sold 79,559 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $9.13, for a total transaction of $726,373.67. Following the completion of the transaction, the director now directly owns 186,737 shares of the company's stock, valued at $1,704,908.81. This represents a 29.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David Vennettilli sold 30,762 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $9.09, for a total transaction of $279,626.58. Following the completion of the sale, the director now owns 90,762 shares of the company's stock, valued at approximately $825,026.58. The trade was a 25.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 338,927 shares of company stock worth $3,153,476. 84.00% of the stock is currently owned by insiders.
Hedge Funds Weigh In On OppFi
Large investors have recently modified their holdings of the business. Segall Bryant & Hamill LLC acquired a new position in OppFi during the third quarter worth $2,457,000. Marshall Wace LLP boosted its position in shares of OppFi by 249.2% during the 4th quarter. Marshall Wace LLP now owns 617,366 shares of the company's stock worth $4,729,000 after purchasing an additional 440,582 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of OppFi by 52.6% in the 4th quarter. Renaissance Technologies LLC now owns 826,115 shares of the company's stock valued at $6,328,000 after purchasing an additional 284,900 shares in the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of OppFi by 310.7% in the 4th quarter. Tudor Investment Corp ET AL now owns 276,331 shares of the company's stock valued at $2,117,000 after purchasing an additional 209,045 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of OppFi by 1,745.7% in the fourth quarter. Bank of America Corp DE now owns 206,317 shares of the company's stock valued at $1,580,000 after purchasing an additional 195,139 shares during the period. 7.10% of the stock is owned by hedge funds and other institutional investors.
About OppFi
(
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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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