OppFi (NYSE:OPFI) Rating Lowered to Strong Sell at Zacks Research

OppFi (NYSE:OPFI - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other research firms also recently issued reports on OPFI. Citigroup reissued a "market outperform" rating on shares of OppFi in a report on Thursday, October 15th. Citizens Jmp reissued a "market outperform" rating and issued a $11.00 price objective on shares of OppFi in a research note on Wednesday, August 26th. Wall Street Zen lowered OppFi from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Piper Sandler cut OppFi to a "neutral" rating in a research report on Wednesday, August 26th. Finally, Stephens cut their target price on OppFi from $11.00 to $9.50 and set an "equal weight" rating on the stock in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $10.50.

OppFi Trading Down 0.4%

OPFI opened at $6.00 on Tuesday. OppFi has a 1-year low of $5.36 and a 1-year high of $11.69. The company has a market cap of $508.80 million, a P/E ratio of 3.95 and a beta of 1.95. The company has a fifty day moving average price of $6.27 and a two-hundred day moving average price of $8.08.

OppFi (NYSE:OPFI - Get Free Report) last issued its earnings results on Tuesday, October 27th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. OppFi had a return on equity of 25.06% and a net margin of 15.62%. The company had revenue of $92.75 million for the quarter, compared to analyst estimates of $152.10 million. On average, research analysts forecast that OppFi will post 1.36 EPS for the current fiscal year.

Insider Transactions at OppFi

In related news, CFO Pamela D. Johnson sold 8,650 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $8.02, for a total transaction of $69,373.00. Following the completion of the transaction, the chief financial officer owned 151,039 shares in the company, valued at approximately $1,211,332.78. This represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd G. Schwartz purchased 3,300 shares of OppFi stock in a transaction that occurred on Friday, September 11th. The shares were bought at an average price of $7.96 per share, with a total value of $26,268.00. Following the transaction, the chief executive officer owned 639,958 shares of the company's stock, valued at $5,094,065.68. This trade represents a 0.52% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 70,640 shares of company stock worth $513,475 and have sold 114,985 shares worth $832,289. Company insiders own 70.20% of the company's stock.

Institutional Trading of OppFi

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its stake in OppFi by 3.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 68,043 shares of the company's stock valued at $405,000 after acquiring an additional 2,458 shares during the last quarter. State of Wyoming grew its position in shares of OppFi by 7.9% during the 1st quarter. State of Wyoming now owns 42,739 shares of the company's stock valued at $330,000 after acquiring an additional 3,139 shares during the period. State of Alaska Department of Revenue increased its stake in shares of OppFi by 16.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 26,141 shares of the company's stock worth $157,000 after purchasing an additional 3,689 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of OppFi by 46.8% during the 1st quarter. Hsbc Holdings PLC now owns 16,539 shares of the company's stock worth $127,000 after purchasing an additional 5,269 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of OppFi by 24.7% during the 1st quarter. Cetera Investment Advisers now owns 30,491 shares of the company's stock worth $235,000 after purchasing an additional 6,041 shares during the last quarter. Institutional investors own 7.10% of the company's stock.

OppFi Company Profile

OppFi Inc. is a financial technology company that provides consumer credit products, including personal installment loans and a credit card. Its digital platform is designed to help people who may have difficulty obtaining credit through traditional financial institutions access financial services. The company works with bank partners to offer its products, while providing technology and customer-support services. Product availability and terms can vary by state. Originally known as OppLoans, the company adopted the OppFi name in 2021 when it became publicly traded.

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