Prosperity Wealth Management Inc. Invests $316,000 in OppFi Inc. (NYSE:OPFI)

Prosperity Wealth Management Inc. bought a new position in OppFi Inc. (NYSE:OPFI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 34,000 shares of the company's stock, valued at approximately $316,000.

A number of other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in OppFi by 4.7% during the 4th quarter. NewEdge Advisors LLC now owns 18,328 shares of the company's stock valued at $140,000 after buying an additional 831 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of OppFi by 8.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,801 shares of the company's stock valued at $83,000 after purchasing an additional 866 shares during the period. Barclays PLC grew its position in OppFi by 5.6% during the fourth quarter. Barclays PLC now owns 44,521 shares of the company's stock valued at $341,000 after buying an additional 2,380 shares during the period. Rhumbline Advisers grew its position in shares of OppFi by 23.3% during the 1st quarter. Rhumbline Advisers now owns 19,362 shares of the company's stock valued at $180,000 after acquiring an additional 3,662 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in OppFi by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,359 shares of the company's stock valued at $416,000 after purchasing an additional 4,398 shares during the period. Institutional investors own 7.10% of the company's stock.

OppFi Stock Up 2.3%

OPFI traded up $0.30 on Friday, reaching $12.88. 1,333,240 shares of the company traded hands, compared to its average volume of 946,292. The firm has a fifty day simple moving average of $11.32 and a two-hundred day simple moving average of $10.47. OppFi Inc. has a one year low of $3.09 and a one year high of $17.73. The company has a market cap of $1.12 billion, a P/E ratio of -34.80 and a beta of 1.73.

OppFi (NYSE:OPFI - Get Free Report) last issued its earnings results 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 during the quarter, compared to analyst estimates of $137.71 million. OppFi had a positive return on equity of 48.24% and a negative net margin of 1.79%. On average, equities analysts forecast that OppFi Inc. will post 0.86 earnings per share for the current year.

OppFi Announces Dividend

The firm also recently declared a special dividend, which was paid on Friday, April 18th. Stockholders of record on Tuesday, April 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, April 8th.

Wall Street Analyst Weigh In

OPFI has been the subject of a number of recent analyst reports. 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 report on Thursday, May 8th. Citizens Jmp upgraded OppFi from a "market perform" rating to an "outperform" rating and set a $13.50 target price for the company in a research report on Thursday, May 8th. Northland Securities set a $13.00 price target on shares of OppFi in a report on Thursday, March 6th. Finally, Stephens assumed coverage on OppFi in a research report on Thursday, June 12th. They issued an "equal weight" rating and a $14.50 price target for the company.

Insider Activity

In other news, Director Theodore G. Schwartz sold 124,788 shares of the business's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $9.31, for a total value of $1,161,776.28. Following the completion of the transaction, the director now directly owns 186,737 shares of the company's stock, valued at approximately $1,738,521.47. The trade was a 40.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher J. Mckay sold 10,377 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $9.00, for a total transaction of $93,393.00. Following the completion of the transaction, the insider now owns 248,175 shares of the company's stock, valued at $2,233,575. This represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,605,855 shares of company stock worth $17,819,426. 72.00% of the stock is currently owned by corporate insiders.

OppFi 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.