DAVENPORT & Co LLC Takes Position in OppFi Inc. (NYSE:OPFI)

DAVENPORT & Co LLC bought a new stake in OppFi Inc. (NYSE:OPFI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 39,776 shares of the company's stock, valued at approximately $359,000.

Other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP lifted its holdings in OppFi by 249.2% during the 4th quarter. Marshall Wace LLP now owns 617,366 shares of the company's stock valued at $4,729,000 after purchasing an additional 440,582 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in OppFi by 52.6% during the 4th quarter. Renaissance Technologies LLC now owns 826,115 shares of the company's stock valued at $6,328,000 after purchasing an additional 284,900 shares during the last quarter. Tudor Investment Corp ET AL lifted its holdings in OppFi by 310.7% during the 4th quarter. Tudor Investment Corp ET AL now owns 276,331 shares of the company's stock valued at $2,117,000 after purchasing an additional 209,045 shares during the last quarter. Bank of America Corp DE lifted its holdings in OppFi by 1,745.7% during the 4th quarter. Bank of America Corp DE now owns 206,317 shares of the company's stock valued at $1,580,000 after purchasing an additional 195,139 shares during the last quarter. Finally, EAM Investors LLC acquired a new stake in OppFi during the 4th quarter valued at $1,395,000. 7.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Gregory T. Zeeman sold 50,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $13.98, for a total value of $699,000.00. Following the transaction, the director owned 149,644 shares in the company, valued at approximately $2,092,023.12. This trade represents a 25.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodore G. Schwartz sold 190,349 shares of OppFi stock in a transaction dated 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 completion of the transaction, the director owned 199,644 shares in the company, valued at approximately $2,569,418.28. This represents a 48.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,237,980 shares of company stock worth $14,347,445 in the last 90 days. 72.00% of the stock is owned by company insiders.

OppFi Trading Down 8.0%

OPFI stock traded down $1.07 during trading hours on Friday, hitting $12.28. 1,954,450 shares of the stock were exchanged, compared to its average volume of 1,000,416. The firm has a market capitalization of $1.07 billion, a P/E ratio of -33.19 and a beta of 1.73. The company has a 50-day simple moving average of $12.75 and a two-hundred day simple moving average of $11.10. OppFi Inc. has a 12 month low of $3.09 and a 12 month high of $17.73.

OppFi (NYSE:OPFI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.12. OppFi had a positive return on equity of 48.24% and a negative net margin of 1.79%. The company had revenue of $140.27 million for the quarter, compared to analysts' expectations of $137.71 million. On average, equities research analysts predict that OppFi Inc. will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OPFI. JMP Securities raised OppFi from a "market perform" rating to a "market outperform" rating and set a $13.50 price target for the company in a report on Thursday, May 8th. Citizens Jmp upgraded OppFi from a "market perform" rating to an "outperform" rating and set a $13.50 price objective on the stock in a research report on Thursday, May 8th. Finally, Stephens started coverage on OppFi in a research report on Thursday, June 12th. They set an "equal weight" rating and a $14.50 price objective on the stock.

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.