Informed Momentum Co LLC Has $1.14 Million Holdings in OppFi Inc. (NYSE:OPFI)

Key Points

• Informed Momentum Co LLC reduced its holdings in OppFi Inc. by 32.6%, now owning 122,734 shares valued at approximately $1,141,000.
• OppFi reported an earnings per share (EPS) of $0.45 for the last quarter, exceeding expectations by $0.15.
• Several institutional investors, including Nuveen LLC and Invesco Ltd., have significantly increased their stakes or initiated new positions in OppFi during the same quarter.

Informed Momentum Co LLC lowered its stake in shares of OppFi Inc. (NYSE:OPFI - Free Report) by 32.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,734 shares of the company's stock after selling 59,374 shares during the quarter. Informed Momentum Co LLC owned approximately 0.14% of OppFi worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Marshall Wace LLP boosted its holdings in shares of OppFi by 249.2% in the 4th quarter. Marshall Wace LLP now owns 617,366 shares of the company's stock valued at $4,729,000 after buying an additional 440,582 shares during the period. Renaissance Technologies LLC raised its stake 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 acquiring an additional 284,900 shares during the period. Tudor Investment Corp ET AL raised its stake 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 acquiring an additional 209,045 shares during the period. Bank of America Corp DE raised its stake 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 acquiring an additional 195,139 shares during the period. Finally, EAM Investors LLC acquired a new stake in OppFi during the fourth quarter worth about $1,395,000. Institutional investors and hedge funds own 7.10% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on OPFI shares. Citizens Jmp upgraded shares of OppFi from a "market perform" rating to an "outperform" rating and set a $13.50 price objective on the stock in a research note on Thursday, May 8th. JMP Securities raised shares of 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. Stephens initiated coverage on shares of OppFi in a report on Thursday, June 12th. They set an "equal weight" rating and a $14.50 price target for the company. Finally, Zacks Research raised shares of OppFi to a "strong-buy" rating in a report on Friday, August 8th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, OppFi presently has an average rating of "Buy" and a consensus target price of $13.63.

OppFi Trading Down 1.4%

OPFI stock traded down $0.15 during trading on Friday, hitting $10.42. The company had a trading volume of 888,148 shares, compared to its average volume of 1,132,550. The firm has a market capitalization of $909.73 million, a price-to-earnings ratio of -7.95 and a beta of 1.71. The business has a 50 day moving average of $12.22 and a 200 day moving average of $11.33. OppFi Inc. has a fifty-two week low of $3.93 and a fifty-two week high of $17.73.

OppFi (NYSE:OPFI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.15. OppFi had a negative net margin of 6.04% and a positive return on equity of 53.83%. The company had revenue of $142.44 million during the quarter, compared to the consensus estimate of $141.19 million. As a group, equities analysts predict that OppFi Inc. will post 0.86 EPS for the current year.

Insiders Place Their Bets

In other OppFi news, CFO Pamela D. Johnson sold 5,495 shares of OppFi stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $13.41, for a total transaction of $73,687.95. Following the transaction, the chief financial officer owned 164,570 shares of the company's stock, valued at $2,206,883.70. The trade was a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher J. Mckay sold 9,030 shares of OppFi stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $13.41, for a total value of $121,092.30. Following the transaction, the insider directly owned 185,366 shares in the company, valued at approximately $2,485,758.06. This trade represents a 4.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,055,699 shares of company stock worth $12,935,298. Company insiders own 72.00% of the company's stock.

About OppFi

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.