Stratos Wealth Partners LTD. Has $1.24 Million Position in OppFi Inc. $OPFI

Key Points

• Stratos Wealth Partners LTD. significantly increased its ownership in OppFi Inc. by 234.8%, now holding 88,434 shares valued at approximately $1.24 million.
• OppFi Inc. reported $0.45 earnings per share, surpassing analysts' expectations, and achieved revenues of $142.44 million for the quarter.
• Insider activity at OppFi includes notable sales by executives, with insiders filing sales worth approximately $2.4 million over the last ninety days.

Stratos Wealth Partners LTD. lifted its stake in OppFi Inc. (NYSE:OPFI - Free Report) by 234.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,434 shares of the company's stock after acquiring an additional 62,023 shares during the quarter. Stratos Wealth Partners LTD. owned approximately 0.10% of OppFi worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. DAVENPORT & Co LLC acquired a new position in shares of OppFi in the first quarter worth $359,000. GAMMA Investing LLC increased its stake in shares of OppFi by 2,488.9% in the first quarter. GAMMA Investing LLC now owns 5,152 shares of the company's stock worth $48,000 after acquiring an additional 4,953 shares during the last quarter. American Century Companies Inc. increased its stake in shares of OppFi by 29.0% in the first quarter. American Century Companies Inc. now owns 43,654 shares of the company's stock worth $406,000 after acquiring an additional 9,808 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new position in shares of OppFi in the first quarter worth $261,000. Finally, Rhumbline Advisers increased its stake in shares of OppFi by 23.3% in the first quarter. Rhumbline Advisers now owns 19,362 shares of the company's stock worth $180,000 after acquiring an additional 3,662 shares during the last quarter. 7.10% of the stock is owned by institutional investors and hedge funds.

OppFi Price Performance

OppFi stock opened at $9.96 on Wednesday. The company has a market capitalization of $869.43 million, a price-to-earnings ratio of -7.60 and a beta of 1.71. OppFi Inc. has a one year low of $4.83 and a one year high of $17.73. The company's fifty day moving average price is $10.58 and its two-hundred day moving average price is $11.14.

OppFi (NYSE:OPFI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) 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 analysts' expectations of $141.19 million. As a group, sell-side analysts anticipate that OppFi Inc. will post 0.86 earnings per share for the current year.

Insider Buying and Selling at OppFi

In other OppFi news, insider Christopher J. Mckay sold 9,030 shares of the company's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $11.21, for a total transaction of $101,226.30. Following the completion of the sale, the insider directly owned 172,129 shares in the company, valued at $1,929,566.09. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Pamela D. Johnson sold 5,497 shares of the company's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $11.21, for a total transaction of $61,621.37. Following the sale, the chief financial officer owned 154,521 shares of the company's stock, valued at $1,732,180.41. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,811 shares of company stock worth $2,408,743 over the last ninety days. Company insiders own 72.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on OPFI. Zacks Research downgraded shares of OppFi from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Weiss Ratings reissued a "sell (d)" rating on shares of OppFi in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $13.63.

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.

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