Virtu Financial LLC Invests $510,000 in OppFi Inc. (NYSE:OPFI)

Key Points

• Virtu Financial LLC acquired 54,802 shares of OppFi Inc. for approximately $510,000, becoming a new shareholder of the company.
• Insider transactions revealed that Director Theodore G. Schwartz sold 190,349 shares, representing a 48.81% decrease in his ownership stake.
• Analysts have set price targets for OppFi, with Stephens rating it as "equal weight" with a target of $14.50, while JMP Securities upgraded its rating to "outperform" with a target of $13.50.

Virtu Financial LLC bought a new position in OppFi Inc. (NYSE:OPFI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 54,802 shares of the company's stock, valued at approximately $510,000. Virtu Financial LLC owned 0.06% of OppFi as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in OPFI. JPMorgan Chase & Co. lifted its stake in shares of OppFi by 272.6% in the 4th quarter. JPMorgan Chase & Co. now owns 136,308 shares of the company's stock worth $1,044,000 after acquiring an additional 99,723 shares during the period. Geode Capital Management LLC lifted its stake in shares of OppFi by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 412,361 shares of the company's stock worth $3,160,000 after acquiring an additional 11,239 shares during the period. Wells Fargo & Company MN lifted its stake in shares of OppFi by 577.2% in the 4th quarter. Wells Fargo & Company MN now owns 42,144 shares of the company's stock worth $323,000 after acquiring an additional 35,921 shares during the period. Renaissance Technologies LLC lifted its stake in shares of OppFi by 52.6% in the 4th quarter. Renaissance Technologies LLC now owns 826,115 shares of the company's stock worth $6,328,000 after acquiring an additional 284,900 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of OppFi in the 4th quarter worth $228,000. Institutional investors and hedge funds own 7.10% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citizens Jmp upgraded shares of OppFi from a "market perform" rating to an "outperform" rating and set a $13.50 target price for the company in a research note on Thursday, May 8th. Zacks Research upgraded shares of OppFi to a "strong-buy" rating in a research note on Friday, August 8th. JMP Securities upgraded shares of OppFi from a "market perform" rating to a "market outperform" rating and set a $13.50 price objective for the company in a research note on Thursday, May 8th. Finally, Stephens began coverage on shares of OppFi in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $14.50 price objective for the company. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $13.63.

Insider Buying and Selling at OppFi

In other OppFi news, Director Gregory T. Zeeman sold 50,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were 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 approximately $2,092,023.12. This trade represents a 25.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Pamela D. Johnson sold 35,890 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $13.97, for a total transaction of $501,383.30. Following the transaction, the chief financial officer owned 173,018 shares of the company's stock, valued at $2,417,061.46. This trade represents a 17.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,055,699 shares of company stock worth $12,935,298. 72.00% of the stock is owned by corporate insiders.

OppFi Stock Down 1.4%

Shares of NYSE OPFI traded down $0.15 during midday trading on Friday, hitting $10.42. The company had a trading volume of 888,148 shares, compared to its average volume of 1,132,550. The business has a 50-day simple moving average of $12.22 and a two-hundred day simple moving average of $11.33. OppFi Inc. has a twelve month low of $3.93 and a twelve month high of $17.73. The firm has a market capitalization of $909.73 million, a price-to-earnings ratio of -7.95 and a beta of 1.71.

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. OppFi had a negative net margin of 6.04% and a positive return on equity of 53.83%. The firm had revenue of $142.44 million during the quarter, compared to the consensus estimate of $141.19 million. On average, equities analysts forecast that OppFi Inc. will post 0.86 EPS for the current year.

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.