OppFi (NYSE:OPFI) Shares Down 5.8% - Time to Sell?

OppFi Inc. (NYSE:OPFI - Get Free Report) dropped 5.8% during trading on Monday . The stock traded as low as $8.01 and last traded at $8.08. Approximately 276,522 shares traded hands during trading, a decline of 69% from the average daily volume of 905,131 shares. The stock had previously closed at $8.58.

Analyst Upgrades and Downgrades

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

OppFi Stock Down 11.4 %

The stock has a market cap of $655.23 million, a PE ratio of 47.50 and a beta of 1.45. The firm has a 50-day simple moving average of $7.05 and a 200-day simple moving average of $5.25.

Insiders Place Their Bets

In related news, Director David Vennettilli sold 100,000 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $6.45, for a total value of $645,000.00. Following the transaction, the director now directly owns 143,825 shares in the company, valued at approximately $927,671.25. This represents a 41.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owns 99,072 shares of the company's stock, valued at approximately $663,782.40. The trade was a 18.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 145,450 shares of company stock worth $971,370 in the last quarter. 84.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in OppFi by 271.7% during the third quarter. JPMorgan Chase & Co. now owns 36,585 shares of the company's stock worth $173,000 after purchasing an additional 26,742 shares during the last quarter. Barclays PLC lifted its position in OppFi by 95.9% in the 3rd quarter. Barclays PLC now owns 42,141 shares of the company's stock worth $199,000 after buying an additional 20,630 shares during the last quarter. Geode Capital Management LLC boosted its stake in OppFi by 4.7% in 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 in the last quarter. XTX Topco Ltd purchased a new stake in OppFi in the third quarter worth approximately $136,000. Finally, Jane Street Group LLC grew its position in OppFi by 28.9% during 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. 7.10% of the stock is currently owned by hedge funds and other institutional investors.

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.