Arrowstreet Capital Limited Partnership Boosts Holdings in OppFi Inc. $OPFI

Key Points

• Arrowstreet Capital increased its OppFi stake by 208.1% in the first quarter, bringing its holdings to 211,667 shares valued at approximately $1.63 million. Institutional investors collectively own 7.1% of the company.
• OppFi reported quarterly EPS of $0.35, exceeding the $0.33 consensus estimate, while revenue totaled $87.3 million. Analysts expect full-year EPS of approximately $1.80.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $13.00, compared with the stock’s reported price of $9.76.

Arrowstreet Capital Limited Partnership boosted its holdings in shares of OppFi Inc. (NYSE:OPFI - Free Report) by 208.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 211,667 shares of the company's stock after buying an additional 142,971 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.25% of OppFi worth $1,632,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sei Investments Co. purchased a new position in shares of OppFi during the 1st quarter worth $123,000. State of Wyoming increased its stake in shares of OppFi by 7.9% in the 1st quarter. State of Wyoming now owns 42,739 shares of the company's stock worth $330,000 after purchasing an additional 3,139 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of OppFi by 24.7% in 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of OppFi by 50.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 426,089 shares of the company's stock worth $3,285,000 after purchasing an additional 141,949 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in OppFi by 11.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 63,304 shares of the company's stock worth $480,000 after purchasing an additional 6,431 shares during the period. 7.10% of the stock is currently owned by institutional investors.

OppFi Price Performance

NYSE:OPFI opened at $9.76 on Thursday. The firm has a market capitalization of $833.66 million, a price-to-earnings ratio of 10.50 and a beta of 1.77. The business has a 50 day simple moving average of $9.04 and a 200-day simple moving average of $8.90. OppFi Inc. has a 1 year low of $7.36 and a 1 year high of $12.60.

OppFi (NYSE:OPFI - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. The company had revenue of $87.30 million during the quarter, compared to the consensus estimate of $151.14 million. OppFi had a return on equity of 39.90% and a net margin of 10.86%. As a group, analysts expect that OppFi Inc. will post 1.8 earnings per share for the current fiscal year.

Insider Activity

In other OppFi news, Director Christina M. Favilla sold 30,000 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $8.14, for a total transaction of $244,200.00. Following the completion of the transaction, the director owned 156,737 shares in the company, valued at $1,275,839.18. The trade was a 16.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 70.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on OPFI shares. Weiss Ratings upgraded OppFi from a "sell (d+)" rating to a "hold (c)" rating in a research report on Tuesday, May 12th. Citizens Jmp reduced their price target on OppFi from $16.00 to $15.00 and set a "market outperform" rating for the company in a research report on Friday, April 17th. Stephens raised their price objective on OppFi from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Citigroup reaffirmed a "market outperform" rating on shares of OppFi in a research report on Friday, June 26th. Finally, Zacks Research downgraded OppFi from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $13.00.

About OppFi

OppFi NYSE: OPFI is a financial technology company that provides digital lending and credit solutions designed to meet the needs of near-prime consumers in the United States. Through its technology-driven platform, OppFi offers unsecured installment loans under the OppLoans brand, allowing borrowers to access credit online or via mobile devices. The company leverages proprietary data analytics and machine learning models to assess credit risk, streamline underwriting processes and deliver personalized loan products with transparent terms.

Headquartered in Chicago, Illinois, OppFi was founded in 2013 with a mission to increase financial inclusion for underserved and underbanked populations.

Want to see what other hedge funds are holding OPFI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OppFi Inc. (NYSE:OPFI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source