OppFi (NYSE:OPFI) Stock Gets Downgrade from Zacks Research

OppFi (NYSE:OPFI) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, Zacks reports.

Several other brokerages have also issued reports on OPFI. Wall Street Zen lowered OppFi from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Citigroup restated a “market outperform” rating on shares of OppFi in a report on Thursday, October 15th. UBS Group set a $11.00 price target on shares of OppFi in a research note on Wednesday, August 26th. Stephens reduced their price target on shares of OppFi from $11.00 to $9.50 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $11.00 price objective on shares of OppFi in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.50.

OppFi Trading Down 0.4%

Shares of NYSE OPFI opened at $6.00 on Tuesday. The firm has a market capitalization of $508.80 million, a PE ratio of 3.95 and a beta of 1.95. OppFi has a 1 year low of $5.36 and a 1 year high of $11.69. The firm’s 50-day moving average is $6.27 and its 200-day moving average is $8.08.

OppFi (NYSE:OPFI) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $92.75 million during the quarter, compared to the consensus estimate of $152.10 million. OppFi had a return on equity of 25.06% and a net margin of 15.62%. As a group, equities research analysts anticipate that OppFi will post 1.36 earnings per share for the current fiscal year.

Insider Activity at OppFi

In other OppFi news, insider Christopher J. Mckay sold 77,850 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $7.18, for a total transaction of $558,963.00. Following the transaction, the insider owned 1,431,479 shares in the company, valued at $10,278,019.22. This trade represents a 5.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd G. Schwartz acquired 3,300 shares of the business’s stock in a transaction on Friday, September 11th. The stock was acquired at an average cost of $7.96 per share, with a total value of $26,268.00. Following the acquisition, the chief executive officer directly owned 639,958 shares in the company, valued at approximately $5,094,065.68. This trade represents a 0.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 70,640 shares of company stock worth $513,475 and have sold 114,985 shares worth $832,289. 70.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in OppFi by 14.8% in the second quarter. Wellington Management Group LLP now owns 3,019,250 shares of the company’s stock valued at $29,981,000 after buying an additional 389,082 shares in the last quarter. Renaissance Technologies LLC raised its stake in OppFi by 2.3% during the first quarter. Renaissance Technologies LLC now owns 630,308 shares of the company’s stock worth $4,860,000 after acquiring an additional 14,100 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in OppFi by 50.0% during the first quarter. Dimensional Fund Advisors LP now owns 426,089 shares of the company’s stock worth $3,285,000 after acquiring an additional 141,949 shares in the last quarter. Globeflex Capital L P bought a new position in shares of OppFi in the second quarter worth about $3,240,000. Finally, PL Capital Advisors LLC bought a new position in shares of OppFi in the second quarter worth about $2,979,000. 7.10% of the stock is owned by institutional investors.

OppFi Company Profile

OppFi Inc. is a financial technology company that provides consumer credit products, including personal installment loans and a credit card. Its digital platform is designed to help people who may have difficulty obtaining credit through traditional financial institutions access financial services. The company works with bank partners to offer its products, while providing technology and customer-support services. Product availability and terms can vary by state. Originally known as OppLoans, the company adopted the OppFi name in 2021 when it became publicly traded.