OppFi Inc. (NYSE:OPFI – Get Free Report)’s stock price shot up 6.4% on Tuesday . The stock traded as high as $8.77 and last traded at $8.79. 433,291 shares traded hands 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.
Analysts Set New Price Targets
A number of equities analysts have commented on OPFI shares. Weiss Ratings raised shares of OppFi from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Wall Street Zen raised shares of OppFi from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Citizens Jmp reduced their target price on shares of OppFi from $16.00 to $15.00 and set a “market outperform” rating on the stock in a research note on Friday, April 17th. Finally, Stephens lifted their target price 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. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, OppFi presently has a consensus rating of “Hold” and an average target price of $13.00.
Check Out Our Latest Stock Report on OppFi
OppFi Price Performance
OppFi (NYSE:OPFI – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. OppFi had a net margin of 10.86% and a return on equity of 39.90%. The business had revenue of $87.30 million during the quarter, compared to analysts’ expectations of $151.14 million. As a group, analysts anticipate that OppFi Inc. will post 1.8 EPS for the current year.
Insider Transactions at OppFi
In other OppFi news, Director David Vennettilli sold 10,000 shares of OppFi stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christina M. Favilla sold 30,000 shares of OppFi stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $8.14, for a total transaction of $244,200.00. Following the sale, the director owned 156,737 shares of the company’s stock, valued at approximately $1,275,839.18. This represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 70.20% of the stock is owned by company insiders.
Institutional Investors Weigh In On OppFi
A number of institutional investors have recently made changes to their positions in OPFI. Quarry LP increased its position in shares of OppFi by 669.2% during the third quarter. Quarry LP now owns 3,492 shares of the company’s stock valued at $40,000 after acquiring an additional 3,038 shares during the last quarter. Accredited Wealth Management LLC acquired a new position in shares of OppFi in the third quarter valued at approximately $49,000. Russell Investments Group Ltd. grew its holdings in shares of OppFi by 217.6% in the second quarter. Russell Investments Group Ltd. now owns 4,681 shares of the company’s stock valued at $65,000 after purchasing an additional 3,207 shares in the last quarter. Moran Wealth Management LLC acquired a new position in shares of OppFi in the first quarter valued at approximately $84,000. Finally, Lazard Asset Management LLC acquired a new position in shares of OppFi in the first quarter valued at approximately $91,000. 7.10% of the stock is currently owned by institutional investors and hedge funds.
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.
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