DAVENPORT & Co LLC Makes New Investment in OppFi Inc. (NYSE:OPFI)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prosperity Wealth Management Inc. bought a new position in OppFi during the first quarter worth about $316,000. Tcfg Wealth Management LLC acquired a new stake in shares of OppFi in the first quarter valued at approximately $106,000. NorthCrest Asset Manangement LLC acquired a new stake in OppFi during the 1st quarter worth $208,000. Rhumbline Advisers grew its holdings in OppFi by 23.3% during the 1st quarter. Rhumbline Advisers now owns 19,362 shares of the company's stock worth $180,000 after acquiring an additional 3,662 shares during the period. Finally, GAMMA Investing LLC grew its holdings in OppFi by 2,488.9% during the 1st quarter. GAMMA Investing LLC now owns 5,152 shares of the company's stock worth $48,000 after acquiring an additional 4,953 shares during the period. 7.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling at OppFi

In other news, insider Christopher J. Mckay sold 9,030 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $13.41, for a total transaction of $121,092.30. Following the transaction, the insider directly owned 185,366 shares in the company, valued at $2,485,758.06. The trade was a 4.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Theodore G. Schwartz sold 122,531 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $11.81, for a total transaction of $1,447,091.11. Following the transaction, the director owned 199,644 shares in the company, valued at $2,357,795.64. This represents a 38.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,299,287 shares of company stock valued at $14,852,002. Corporate insiders own 72.00% of the company's stock.

OppFi Stock Down 3.9%

OPFI traded down $0.55 during trading on Wednesday, hitting $13.70. The company had a trading volume of 869,231 shares, compared to its average volume of 993,474. The company has a market capitalization of $1.19 billion, a PE ratio of -37.03 and a beta of 1.73. OppFi Inc. has a one year low of $3.09 and a one year high of $17.73. The firm's 50-day moving average price is $12.59 and its 200 day moving average price is $11.04.

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

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.