OppFi (NYSE:OPFI) Stock Price Down 4.5% – Here’s What Happened

OppFi Inc. (NYSE:OPFI)’s share price dropped 4.5% during trading on Monday . The stock traded as low as $13.40 and last traded at $13.55. Approximately 342,928 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 899,967 shares. The stock had previously closed at $14.18.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on OPFI shares. JMP Securities raised OppFi from a “market perform” rating to a “market outperform” rating and set a $13.50 price target on the stock in a research report on Thursday, May 8th. Northland Securities set a $13.00 target price on OppFi in a research note on Thursday, March 6th. Finally, Citizens Jmp upgraded OppFi from a “market perform” rating to an “outperform” rating and set a $13.50 target price on the stock in a report on Thursday, May 8th.

OppFi Trading Down 3.6%

The business’s 50-day simple moving average is $10.44 and its 200-day simple moving average is $10.14. The company has a market cap of $1.19 billion, a PE ratio of 85.44 and a beta of 1.73.

OppFi (NYSE:OPFI) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. The business had revenue of $140.27 million for the quarter, compared to the consensus estimate of $137.71 million. OppFi had a net margin of 1.40% and a return on equity of 35.04%. On average, research analysts predict that OppFi Inc. will post 0.86 earnings per share for the current fiscal year.

OppFi Announces Dividend

The company also recently declared a special dividend, which was paid on Friday, April 18th. Stockholders of record on Tuesday, April 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, April 8th.

Insider Activity at OppFi

In related news, Director David Vennettilli sold 30,762 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.09, for a total transaction of $279,626.58. Following the completion of the sale, the director now owns 90,762 shares in the company, valued at $825,026.58. This represents a 25.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Theodore G. Schwartz sold 79,559 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $9.13, for a total value of $726,373.67. Following the completion of the sale, the director now directly owns 186,737 shares in the company, valued at $1,704,908.81. This trade represents a 29.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,374,418 shares of company stock valued at $13,725,493. 72.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OppFi

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in shares of OppFi by 22.4% during the fourth quarter. Bank of New York Mellon Corp now owns 34,156 shares of the company’s stock valued at $262,000 after buying an additional 6,242 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of OppFi by 97.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 148,344 shares of the company’s stock worth $1,136,000 after acquiring an additional 73,258 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of OppFi by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,359 shares of the company’s stock valued at $416,000 after purchasing an additional 4,398 shares during the period. Victory Capital Management Inc. bought a new position in shares of OppFi during the 4th quarter worth approximately $282,000. Finally, Raymond James Financial Inc. acquired a new position in OppFi in the fourth quarter valued at about $228,000. 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.