OppFi (NYSE:OPFI – Get Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.
Several other research analysts also recently commented on OPFI. Weiss Ratings raised shares of OppFi from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Citigroup reaffirmed a “market outperform” rating on shares of OppFi in a research note on Friday, June 26th. Citizens Jmp reduced their price objective on shares of OppFi from $16.00 to $15.00 and set a “market outperform” rating for the company in a research note on Friday, April 17th. Wall Street Zen raised OppFi from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Finally, Stephens lifted their price target on OppFi from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.00.
Read Our Latest Stock Report on OPFI
OppFi Stock Down 1.8%
OppFi (NYSE:OPFI – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. OppFi had a return on equity of 39.90% and a net margin of 10.86%.The business had revenue of $87.30 million during the quarter, compared to the consensus estimate of $151.14 million. As a group, research analysts anticipate that OppFi will post 1.8 earnings per share for the current year.
Insider Activity at OppFi
In other OppFi news, 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 sale, the director directly owned 156,737 shares in the company, valued at $1,275,839.18. This trade represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Vennettilli sold 10,000 shares of OppFi 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 completion of the transaction, the director directly owned 132,389 shares in the company, valued at $1,323,890. This represents a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 70.20% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in OPFI. Quarry LP increased its position in OppFi by 669.2% during the 3rd quarter. Quarry LP now owns 3,492 shares of the company’s stock valued at $40,000 after buying an additional 3,038 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of OppFi by 217.6% during the second quarter. Russell Investments Group Ltd. now owns 4,681 shares of the company’s stock worth $65,000 after acquiring an additional 3,207 shares during the last quarter. Moran Wealth Management LLC acquired a new position in shares of OppFi during the first quarter valued at about $84,000. Lazard Asset Management LLC acquired a new position in shares of OppFi during the first quarter valued at about $91,000. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of OppFi in the 4th quarter valued at approximately $95,000. 7.10% of the stock is currently owned by hedge funds and other institutional investors.
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.
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