OppFi (NYSE:OPFI) Stock Price Up 6.4% – Here’s Why

OppFi Inc. (NYSE:OPFI) shares traded up 6.4% during trading on Tuesday . The stock traded as high as $8.77 and last traded at $8.79. Approximately 433,291 shares were traded during mid-day trading, a decline of 21% from the average session volume of 545,297 shares. The stock had previously closed at $8.26.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OPFI. Citizens Jmp lowered their target price on OppFi from $16.00 to $15.00 and set a “market outperform” rating for the company in a report on Friday, April 17th. Weiss Ratings raised OppFi from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Wall Street Zen raised OppFi from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Finally, Stephens boosted their target price on OppFi from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $13.00.

OppFi Price Performance

The business’s 50-day moving average is $8.61 and its two-hundred day moving average is $9.19. The firm has a market cap of $717.87 million, a P/E ratio of 9.04 and a beta of 1.79.

OppFi (NYSE:OPFI) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. OppFi had a net margin of 10.86% and a return on equity of 39.90%. The firm had revenue of $87.30 million for the quarter, compared to analysts’ expectations of $151.14 million. Equities research analysts predict that OppFi Inc. will post 1.8 EPS for the current year.

Insider Activity at OppFi

In related news, Director Christina M. Favilla sold 30,000 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $8.14, for a total transaction of $244,200.00. Following the transaction, the director directly owned 156,737 shares in the company, valued at approximately $1,275,839.18. The trade was a 16.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Vennettilli sold 10,000 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the sale, the director directly owned 132,389 shares in the company, valued at $1,323,890. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 70.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OPFI. Wellington Management Group LLP increased its stake in shares of OppFi by 193.3% during the 4th quarter. Wellington Management Group LLP now owns 2,474,102 shares of the company’s stock worth $25,879,000 after purchasing an additional 1,630,450 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in OppFi by 163.2% during the third quarter. JPMorgan Chase & Co. now owns 780,258 shares of the company’s stock worth $8,840,000 after purchasing an additional 483,859 shares during the period. Jump Financial LLC bought a new position in OppFi during the third quarter worth about $3,056,000. Nuveen LLC increased its position in OppFi by 53.8% during the fourth quarter. Nuveen LLC now owns 754,039 shares of the company’s stock worth $7,887,000 after buying an additional 263,744 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in OppFi by 342.0% during the third quarter. Squarepoint Ops LLC now owns 291,197 shares of the company’s stock worth $3,299,000 after buying an additional 225,315 shares during the last quarter. Institutional investors own 7.10% of the company’s stock.

About OppFi

OppFi (NYSE: OPFI) is a financial technology company that provides digital lending and credit solutions designed to meet the needs of near-prime consumers in the United States. Through its technology-driven platform, OppFi offers unsecured installment loans under the OppLoans brand, allowing borrowers to access credit online or via mobile devices. The company leverages proprietary data analytics and machine learning models to assess credit risk, streamline underwriting processes and deliver personalized loan products with transparent terms.

Headquartered in Chicago, Illinois, OppFi was founded in 2013 with a mission to increase financial inclusion for underserved and underbanked populations.