OppFi (NYSE:OPFI) Reaches New 1-Year High – Here’s Why

OppFi Inc. (NYSE:OPFI)’s share price hit a new 52-week high on Wednesday . The company traded as high as $14.41 and last traded at $13.81, with a volume of 3269803 shares traded. The stock had previously closed at $12.49.

Analysts Set New Price Targets

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

OppFi Stock Performance

The company has a 50 day moving average price of $8.85 and a two-hundred day moving average price of $6.19. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 86.52 and a beta of 1.45.

OppFi (NYSE:OPFI) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.12. OppFi had a net margin of 1.40% and a return on equity of 35.04%. 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 firm posted $0.16 earnings per share. On average, equities analysts expect that OppFi Inc. will post 0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of OppFi

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new position in OppFi in the third quarter worth approximately $60,000. Brendel Financial Advisors LLC purchased a new position in shares of OppFi during the 3rd quarter worth $105,000. Jane Street Group LLC grew its holdings in shares of OppFi by 28.9% during the 3rd quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock worth $122,000 after purchasing an additional 5,795 shares during the period. XTX Topco Ltd acquired a new stake in shares of OppFi during the 3rd quarter worth about $136,000. Finally, JPMorgan Chase & Co. raised its holdings in OppFi by 271.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 36,585 shares of the company’s stock valued at $173,000 after buying an additional 26,742 shares during the period. Institutional investors and hedge funds own 7.10% of the company’s stock.

OppFi Company Profile

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.