OppFi (NYSE:OPFI) Shares Up 11.2% - Here's What Happened

Shares of OppFi Inc. (NYSE:OPFI - Get Free Report) shot up 11.2% during mid-day trading on Tuesday . The stock traded as high as $13.59 and last traded at $13.89. 610,159 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 2,399,724 shares. The stock had previously closed at $12.49.

Analyst Upgrades and Downgrades

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

OppFi Stock Down 0.6 %

The firm has a market cap of $1.18 billion, a P/E ratio of 85.78 and a beta of 1.45. The stock's 50-day simple moving average is $8.85 and its 200 day simple moving average is $6.19.

OppFi (NYSE:OPFI - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping 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 company had revenue of $136.59 million for the quarter, compared to analysts' expectations of $128.94 million. During the same quarter in the prior year, the firm earned $0.16 EPS. On average, research analysts forecast that OppFi Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other OppFi news, Director David Vennettilli sold 22,301 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $7.68, for a total value of $171,271.68. Following the completion of the sale, the director now owns 121,524 shares in the company, valued at approximately $933,304.32. This trade represents a 15.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jocelyn Moore sold 23,149 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $6.70, for a total transaction of $155,098.30. Following the completion of the sale, the director now owns 99,072 shares of the company's stock, valued at approximately $663,782.40. This trade represents a 18.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 145,450 shares of company stock worth $971,370 in the last quarter. Insiders own 84.00% of the company's stock.

Institutional Investors Weigh In On OppFi

Several large investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC bought a new position in OppFi in the 3rd quarter valued at $2,457,000. Geode Capital Management LLC lifted its holdings in shares of OppFi by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 401,122 shares of the company's stock worth $1,897,000 after acquiring an additional 18,149 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of OppFi by 24.2% during the 2nd quarter. Marshall Wace LLP now owns 171,318 shares of the company's stock worth $581,000 after acquiring an additional 33,347 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of OppFi during the 3rd quarter worth $355,000. Finally, Barclays PLC lifted its holdings in shares of OppFi by 95.9% during the 3rd quarter. Barclays PLC now owns 42,141 shares of the company's stock worth $199,000 after acquiring an additional 20,630 shares during the last quarter. Hedge funds and other 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.