AE Wealth Management LLC Invests $257,000 in OppFi Inc. (NYSE:OPFI)

Key Points

• AE Wealth Management LLC has acquired a new stake in OppFi Inc. (NYSE:OPFI), purchasing 27,678 shares valued at approximately $257,000 in the first quarter.
• OppFi reported earnings of $0.38 per share, beating estimates, with quarterly revenue totaling $140.27 million, exceeding analyst expectations.
• Insider selling activity included Director Theodore G. Schwartz selling 128,188 shares for over $1.5 million, representing a 39.10% decrease in his holdings.

AE Wealth Management LLC purchased a new position in shares of OppFi Inc. (NYSE:OPFI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,678 shares of the company's stock, valued at approximately $257,000.

Several other hedge funds have also made changes to their positions in the business. Marshall Wace LLP raised its holdings in OppFi by 249.2% during the fourth quarter. Marshall Wace LLP now owns 617,366 shares of the company's stock worth $4,729,000 after purchasing an additional 440,582 shares in the last quarter. Renaissance Technologies LLC raised its holdings in OppFi by 52.6% during the fourth quarter. Renaissance Technologies LLC now owns 826,115 shares of the company's stock worth $6,328,000 after purchasing an additional 284,900 shares in the last quarter. Tudor Investment Corp ET AL raised its holdings in OppFi by 310.7% during the fourth quarter. Tudor Investment Corp ET AL now owns 276,331 shares of the company's stock worth $2,117,000 after purchasing an additional 209,045 shares in the last quarter. Bank of America Corp DE raised its holdings in OppFi by 1,745.7% during the fourth quarter. Bank of America Corp DE now owns 206,317 shares of the company's stock worth $1,580,000 after purchasing an additional 195,139 shares in the last quarter. Finally, EAM Investors LLC acquired a new stake in OppFi during the fourth quarter worth approximately $1,395,000. Institutional investors and hedge funds own 7.10% of the company's stock.

Insiders Place Their Bets

In related news, Director Theodore G. Schwartz sold 190,349 shares of OppFi stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $12.87, for a total value of $2,449,791.63. Following the transaction, the director directly owned 199,644 shares in the company, valued at $2,569,418.28. This trade represents a 48.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory T. Zeeman sold 50,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $13.98, for a total value of $699,000.00. Following the completion of the sale, the director directly owned 149,644 shares of the company's stock, valued at approximately $2,092,023.12. This trade represents a 25.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,240,080 shares of company stock worth $15,334,334. 72.00% of the stock is currently owned by insiders.

OppFi Stock Down 3.3%

NYSE:OPFI traded down $0.34 during midday trading on Tuesday, reaching $9.92. The stock had a trading volume of 1,037,840 shares, compared to its average volume of 1,536,752. The firm has a fifty day simple moving average of $12.69 and a two-hundred day simple moving average of $11.44. OppFi Inc. has a 12-month low of $3.13 and a 12-month high of $17.73. The stock has a market cap of $860.72 million, a P/E ratio of -26.78 and a beta of 1.71.

OppFi (NYSE:OPFI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.12. OppFi had a negative net margin of 1.79% and a positive return on equity of 48.24%. The firm had revenue of $140.27 million for the quarter, compared to analyst estimates of $137.71 million. On average, sell-side analysts anticipate that OppFi Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OPFI shares. Citizens Jmp raised shares of OppFi from a "market perform" rating to an "outperform" rating and set a $13.50 price objective on the stock in a report on Thursday, May 8th. Stephens assumed coverage on shares of OppFi in a research report on Thursday, June 12th. They set an "equal weight" rating and a $14.50 target price on the stock. Finally, JMP Securities upgraded shares of OppFi from a "market perform" rating to a "market outperform" rating and set a $13.50 target price on the stock in a research report on Thursday, May 8th.

OppFi 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.