LB Partners LLC Trims Stock Holdings in OppFi Inc. (NYSE:OPFI)

LB Partners LLC lowered its stake in OppFi Inc. (NYSE:OPFI - Free Report) by 28.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 606,000 shares of the company's stock after selling 244,000 shares during the period. OppFi accounts for 4.0% of LB Partners LLC's holdings, making the stock its 8th biggest position. LB Partners LLC owned 0.70% of OppFi worth $5,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in OPFI. Bank of New York Mellon Corp grew its position in shares of OppFi by 19.1% in the first quarter. Bank of New York Mellon Corp now owns 40,679 shares of the company's stock valued at $378,000 after purchasing an additional 6,523 shares during the period. DAVENPORT & Co LLC purchased a new position in OppFi during the first quarter worth about $359,000. Prosperity Wealth Management Inc. purchased a new stake in shares of OppFi in the 1st quarter valued at approximately $316,000. Tcfg Wealth Management LLC purchased a new stake in shares of OppFi in the 1st quarter valued at approximately $106,000. Finally, NorthCrest Asset Manangement LLC purchased a new stake in OppFi during the 1st quarter worth approximately $208,000. Hedge funds and other institutional investors own 7.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on OPFI. Stephens began 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. JMP Securities upgraded 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 research note on Thursday, May 8th. Finally, Citizens Jmp upgraded shares of OppFi from a "market perform" rating to an "outperform" rating and set a $13.50 price objective for the company in a research report on Thursday, May 8th.

Insider Transactions at OppFi

In other news, Director Gregory T. Zeeman sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $13.98, for a total transaction of $699,000.00. Following the completion of the transaction, the director directly owned 149,644 shares in the company, valued at $2,092,023.12. The trade was a 25.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodore G. Schwartz sold 122,531 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $11.81, for a total value of $1,447,091.11. Following the completion of the sale, the director owned 199,644 shares in the company, valued at $2,357,795.64. This trade represents a 38.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,299,287 shares of company stock worth $14,852,002. 72.00% of the stock is owned by corporate insiders.

OppFi Trading Down 3.9%

OppFi stock traded down $0.55 during mid-day trading on Wednesday, reaching $13.70. The company's stock had a trading volume of 764,743 shares, compared to its average volume of 989,723. OppFi Inc. has a twelve month low of $3.09 and a twelve month high of $17.73. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -37.03 and a beta of 1.73. The business has a 50 day moving average price of $12.59 and a 200-day moving average price of $11.04.

OppFi (NYSE:OPFI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates 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%. On average, equities analysts expect that OppFi Inc. will post 0.86 EPS for the current fiscal 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.