OppFi (NYSE:OPFI) Reaches New 12-Month High – Here’s What Happened

Shares of OppFi Inc. (NYSE:OPFI) hit a new 52-week high on Tuesday . The company traded as high as $14.85 and last traded at $14.65, with a volume of 739287 shares. The stock had previously closed at $13.77.

Analyst Ratings Changes

Separately, Northland Securities lifted their price target 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 company’s 50-day moving average price is $9.09 and its two-hundred day moving average price is $6.36. The stock has a market cap of $1.30 billion, a PE ratio of 93.87 and a beta of 1.56.

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

Insider Activity

In related news, Director David Vennettilli sold 100,000 shares of the firm’s stock in a transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jocelyn Moore sold 23,149 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $6.70, for a total transaction of $155,098.30. Following the transaction, the director now directly owns 99,072 shares of the company’s stock, valued at $663,782.40. This trade represents a 18.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 145,450 shares of company stock valued at $971,370 over the last ninety days. 84.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OppFi

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC purchased a new position in OppFi in the 3rd quarter worth about $2,457,000. Los Angeles Capital Management LLC purchased a new stake in shares of OppFi in the third quarter valued at approximately $355,000. Marshall Wace LLP grew its stake in OppFi by 24.2% in the second quarter. Marshall Wace LLP now owns 171,318 shares of the company’s stock worth $581,000 after purchasing an additional 33,347 shares in the last quarter. XTX Topco Ltd purchased a new position in OppFi during the 3rd quarter worth $136,000. Finally, JPMorgan Chase & Co. raised its position in OppFi by 271.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 36,585 shares of the company’s stock valued at $173,000 after purchasing an additional 26,742 shares in the last quarter. 7.10% of the stock is currently owned by hedge funds and other institutional investors.

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.