OppFi (NYSE:OPFI) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of OppFi (NYSE:OPFI) from a buy rating to a strong-buy rating in a research note published on Saturday.

Other research analysts have also issued research reports about the company. Weiss Ratings raised OppFi from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Zacks Research raised OppFi from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Citigroup restated a “market outperform” rating on shares of OppFi in a research report on Friday, June 26th. Stephens upped their price target on shares of OppFi from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, Citizens Jmp cut their price target on shares of OppFi from $16.00 to $15.00 and set a “market outperform” rating for the company in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, OppFi currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

OppFi Trading Up 1.7%

NYSE OPFI opened at $9.02 on Friday. The business’s 50 day moving average is $8.84 and its two-hundred day moving average is $8.94. OppFi has a 12-month low of $7.36 and a 12-month high of $12.60. The stock has a market capitalization of $769.79 million, a price-to-earnings ratio of 9.69 and a beta of 1.76.

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

Insider Buying and Selling

In related news, Director David Vennettilli sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $10.00, for a total value of $100,000.00. Following the sale, the director owned 132,389 shares in the company, valued at $1,323,890. This represents a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christina M. Favilla sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $8.14, for a total value of $244,200.00. Following the completion of the transaction, the director directly owned 156,737 shares of the company’s stock, valued at $1,275,839.18. The trade was a 16.07% 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 have recently made changes to their positions in the company. Wellington Management Group LLP raised 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 buying an additional 1,630,450 shares during the last quarter. Vanguard Group Inc. grew its stake in OppFi by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,583,772 shares of the company’s stock valued at $17,944,000 after acquiring an additional 100,320 shares during the last quarter. JPMorgan Chase & Co. grew its stake in OppFi by 163.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 780,258 shares of the company’s stock valued at $8,840,000 after acquiring an additional 483,859 shares during the last quarter. Nuveen LLC increased its holdings in OppFi by 53.8% during the 4th quarter. Nuveen LLC now owns 754,039 shares of the company’s stock valued at $7,887,000 after acquiring an additional 263,744 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in OppFi by 14.3% during the 3rd quarter. Two Sigma Investments LP now owns 646,099 shares of the company’s stock valued at $7,320,000 after acquiring an additional 80,804 shares in the last quarter. Hedge funds and other institutional investors own 7.10% of the company’s stock.

OppFi Company Profile

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.