OppFi Inc. (NYSE:OPFI) Shares Acquired by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. significantly increased its holdings in OppFi Inc. by 450.8% in the first quarter, acquiring an additional 166,130 shares.
• Several institutional investors, including Renaissance Technologies LLC and Marshall Wace LLP, also raised their stakes in OppFi during the fourth quarter, indicating growing confidence in the company.
• Analyst ratings for OppFi have improved, with firms like Citizens JMP upgrading the stock to an "outperform" rating and setting a price target of $13.50.

Victory Capital Management Inc. grew its stake in shares of OppFi Inc. (NYSE:OPFI - Free Report) by 450.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 202,986 shares of the company's stock after acquiring an additional 166,130 shares during the period. Victory Capital Management Inc. owned about 0.23% of OppFi worth $1,888,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of OPFI. Charles Schwab Investment Management Inc. raised its holdings in OppFi by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,359 shares of the company's stock valued at $416,000 after acquiring an additional 4,398 shares during the last quarter. Raymond James Financial Inc. acquired a new position in OppFi in the 4th quarter valued at $228,000. American Century Companies Inc. grew its stake in shares of OppFi by 30.8% during the 4th quarter. American Century Companies Inc. now owns 33,846 shares of the company's stock valued at $259,000 after buying an additional 7,974 shares during the period. JPMorgan Chase & Co. grew its stake in shares of OppFi by 272.6% during the 4th quarter. JPMorgan Chase & Co. now owns 136,308 shares of the company's stock valued at $1,044,000 after buying an additional 99,723 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of OppFi by 153.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 90,865 shares of the company's stock valued at $696,000 after buying an additional 55,056 shares during the period. 7.10% of the stock is currently owned by institutional investors and hedge funds.

OppFi Stock Performance

Shares of OppFi stock traded down $0.26 during trading on Friday, reaching $10.38. The company had a trading volume of 1,263,839 shares, compared to its average volume of 987,779. The company has a market cap of $901.09 million, a price-to-earnings ratio of -28.05 and a beta of 1.71. The firm's fifty day moving average is $12.73 and its 200-day moving average is $11.45. OppFi Inc. has a fifty-two week low of $3.09 and a fifty-two week high of $17.73.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OPFI. Stephens began 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 for the company. 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 research report on Thursday, May 8th. Finally, Citizens Jmp raised shares of OppFi from a "market perform" rating to an "outperform" rating and set a $13.50 price target for the company in a research report on Thursday, May 8th.

Insider Buying and Selling at OppFi

In other news, CFO Pamela D. Johnson sold 5,495 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $13.41, for a total value of $73,687.95. Following the completion of the transaction, the chief financial officer directly owned 164,570 shares in the company, valued at $2,206,883.70. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Theodore G. Schwartz sold 128,188 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $12.05, for a total transaction of $1,544,665.40. Following the completion of the transaction, the director owned 199,644 shares of the company's stock, valued at $2,405,710.20. This trade represents a 39.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,240,080 shares of company stock worth $15,334,334 in the last ninety days. 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.