LB Partners LLC Decreases Stock Holdings in OppFi Inc. $OPFI

Key Points

• LB Partners LLC has reduced its stake in OppFi Inc. by 14.2%, now holding 520,000 shares, which constitutes 4.6% of its portfolio, valued at approximately $7.3 million.
• Insider trading activity has been noted, with CFO Pamela D. Johnson and Director Theodore G. Schwartz both selling significant amounts of stock, reducing their holdings by 3.44% and 34.02% respectively.
• Analysts have downgraded OppFi from a "strong-buy" to a "hold" rating, with a current consensus target price of $13.63 amidst mixed ratings from various investment analysts.

LB Partners LLC trimmed its position in shares of OppFi Inc. (NYSE:OPFI - Free Report) by 14.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 520,000 shares of the company's stock after selling 86,000 shares during the period. OppFi accounts for 4.6% of LB Partners LLC's portfolio, making the stock its 8th largest holding. LB Partners LLC owned 0.60% of OppFi worth $7,275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of OPFI. Financial Management Professionals Inc. bought a new stake in shares of OppFi during the 2nd quarter valued at $25,000. Quarry LP bought a new stake in shares of OppFi during the 1st quarter valued at $27,000. Strategic Investment Solutions Inc. IL raised its position in shares of OppFi by 65.5% during the 1st quarter. Strategic Investment Solutions Inc. IL now owns 3,227 shares of the company's stock valued at $30,000 after purchasing an additional 1,277 shares during the period. GAMMA Investing LLC raised its position in shares of OppFi by 2,488.9% during the 1st quarter. GAMMA Investing LLC now owns 5,152 shares of the company's stock valued at $48,000 after purchasing an additional 4,953 shares during the period. Finally, Quantbot Technologies LP raised its position in shares of OppFi by 393.4% during the 1st quarter. Quantbot Technologies LP now owns 7,169 shares of the company's stock valued at $67,000 after purchasing an additional 5,716 shares during the period. 7.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other OppFi news, CFO Pamela D. Johnson sold 5,497 shares of OppFi stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $11.21, for a total value of $61,621.37. Following the completion of the transaction, the chief financial officer directly owned 154,521 shares of the company's stock, valued at $1,732,180.41. This trade represents a 3.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Theodore G. Schwartz sold 102,959 shares of OppFi stock in a transaction on Monday, August 11th. The stock was sold at an average price of $11.08, for a total transaction of $1,140,785.72. Following the completion of the transaction, the director directly owned 199,644 shares of the company's stock, valued at $2,212,055.52. The trade was a 34.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,811 shares of company stock valued at $2,408,743 in the last three months. Corporate insiders own 72.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Zacks Research downgraded shares of OppFi from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Weiss Ratings restated a "sell (d)" rating on shares of OppFi in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.63.

OppFi Stock Performance

OPFI opened at $9.29 on Monday. The stock has a market capitalization of $811.07 million, a price-to-earnings ratio of -7.09 and a beta of 1.71. The company has a fifty day moving average of $10.62 and a 200 day moving average of $11.13. OppFi Inc. has a fifty-two week low of $4.82 and a fifty-two week high of $17.73.

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

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.

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