OppFi (NYSE:OPFI) Shares Down 5.8% – Here’s Why

OppFi Inc. (NYSE:OPFI) dropped 5.8% on Monday . The company traded as low as $8.01 and last traded at $8.08. Approximately 276,522 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 905,131 shares. The stock had previously closed at $8.58.

Analysts Set New Price Targets

Separately, Northland Securities raised their target price on shares of OppFi from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th.

OppFi Price Performance

The firm’s 50 day moving average price is $7.09 and its two-hundred day moving average price is $5.28. The firm has a market cap of $704.34 million, a price-to-earnings ratio of 51.07 and a beta of 1.45.

Insiders Place Their Bets

In other OppFi news, Director Jocelyn Moore sold 23,149 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $6.70, for a total transaction of $155,098.30. Following the transaction, the director now owns 99,072 shares in the company, valued at approximately $663,782.40. The trade was a 18.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Vennettilli sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $6.45, for a total value of $645,000.00. Following the transaction, the director now directly owns 143,825 shares of the company’s stock, valued at approximately $927,671.25. This trade represents a 41.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,450 shares of company stock valued at $971,370. 84.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC increased its holdings in OppFi by 28.9% in the third quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock valued at $122,000 after buying an additional 5,795 shares in the last quarter. Quadrature Capital Ltd purchased a new position in OppFi in the 3rd quarter valued at approximately $60,000. Geode Capital Management LLC raised its holdings in OppFi by 4.7% during the third quarter. Geode Capital Management LLC now owns 401,122 shares of the company’s stock worth $1,897,000 after purchasing an additional 18,149 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in OppFi by 120.5% during the second quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock worth $124,000 after purchasing an additional 20,048 shares during the last quarter. Finally, Barclays PLC boosted its position in OppFi by 95.9% during the third quarter. Barclays PLC now owns 42,141 shares of the company’s stock worth $199,000 after purchasing an additional 20,630 shares in the last quarter. Institutional investors and hedge funds 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.