OppFi (NYSE:OPFI) Trading 11.2% Higher – Here’s What Happened

OppFi Inc. (NYSE:OPFI)’s share price rose 11.2% during mid-day trading on Tuesday . The company traded as high as $13.59 and last traded at $13.89. Approximately 610,159 shares changed hands during trading, a decline of 75% from the average daily volume of 2,399,724 shares. The stock had previously closed at $12.49.

Analysts Set New Price Targets

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

OppFi Stock Performance

The firm has a market cap of $1.21 billion, a P/E ratio of 88.21 and a beta of 1.45. The firm’s fifty day moving average price is $8.45 and its 200 day moving average price is $6.01.

OppFi (NYSE:OPFI) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.12. OppFi had a return on equity of 35.04% and a net margin of 1.40%. The business had revenue of $136.59 million for the quarter, compared to the consensus estimate of $128.94 million. During the same period last year, the business posted $0.16 EPS. As a group, analysts expect that OppFi Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jocelyn Moore sold 23,149 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $6.70, for a total value of $155,098.30. Following the sale, the director now directly owns 99,072 shares of the company’s stock, valued at $663,782.40. This represents a 18.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Vennettilli sold 22,301 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $7.68, for a total transaction of $171,271.68. Following the transaction, the director now directly owns 121,524 shares of the company’s stock, valued at approximately $933,304.32. This trade represents a 15.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,450 shares of company stock worth $971,370. Insiders own 84.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC purchased a new stake in OppFi in the 3rd quarter worth $2,457,000. Barclays PLC boosted its stake in OppFi by 95.9% during the 3rd quarter. Barclays PLC now owns 42,141 shares of the company’s stock worth $199,000 after purchasing an additional 20,630 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 18,149 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of OppFi by 28.9% in the third quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock worth $122,000 after buying an additional 5,795 shares in the last quarter. Finally, Brendel Financial Advisors LLC purchased a new position in shares of OppFi in the third quarter worth about $105,000. 7.10% of the stock is owned by institutional investors and hedge funds.

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.