OppFi Inc. (NYSE:OPFI) Sees Large Growth in Short Interest

OppFi Inc. (NYSE:OPFI - Get Free Report) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 5,810,000 shares, a growth of 24.9% from the April 30th total of 4,650,000 shares. Based on an average daily volume of 1,220,000 shares, the days-to-cover ratio is currently 4.8 days. Approximately 24.2% of the company's stock are short sold.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Northland Securities set a $13.00 price objective on OppFi in a report on Thursday, March 6th. Citizens Jmp raised OppFi from a "market perform" rating to an "outperform" rating and set a $13.50 price objective on the stock in a report on Thursday, May 8th. Finally, JMP Securities raised OppFi from a "market perform" rating to a "market outperform" rating and set a $13.50 price objective on the stock in a report on Thursday, May 8th.

OppFi Stock Performance

Shares of NYSE:OPFI traded up $0.40 during midday trading on Thursday, reaching $13.89. 717,043 shares of the company's stock traded hands, compared to its average volume of 1,659,896. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 86.82 and a beta of 1.73. OppFi has a one year low of $3.05 and a one year high of $17.73. The stock has a 50 day moving average of $10.26 and a 200 day moving average of $10.00.

OppFi (NYSE:OPFI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.12. The firm had revenue of $140.27 million for the quarter, compared to the consensus estimate of $137.71 million. OppFi had a return on equity of 35.04% and a net margin of 1.40%. Sell-side analysts predict that OppFi will post 0.86 EPS for the current fiscal year.

OppFi Announces Dividend

The business also recently declared a special dividend, which was paid on Friday, April 18th. Shareholders of record on Tuesday, April 8th were given a $0.25 dividend. The ex-dividend date was Tuesday, April 8th.

Insider Transactions at OppFi

In other OppFi news, insider Christopher J. Mckay sold 10,377 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $7.54, for a total value of $78,242.58. Following the completion of the transaction, the insider now owns 227,421 shares in the company, valued at $1,714,754.34. This represents a 4.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theodore G. Schwartz sold 185,086 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $11.59, for a total value of $2,145,146.74. Following the transaction, the director now owns 186,737 shares of the company's stock, valued at $2,164,281.83. The trade was a 49.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,417,656 shares of company stock valued at $14,134,092 over the last ninety days. 72.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On OppFi

A number of hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new position in OppFi during the 1st quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL increased its holdings in OppFi by 65.5% during the 1st quarter. Strategic Investment Solutions Inc. IL now owns 3,227 shares of the company's stock worth $30,000 after purchasing an additional 1,277 shares during the period. GAMMA Investing LLC increased its holdings in shares of OppFi by 2,488.9% in the 1st quarter. GAMMA Investing LLC now owns 5,152 shares of the company's stock valued at $48,000 after acquiring an additional 4,953 shares during the period. Quantbot Technologies LP grew its stake in OppFi by 393.4% during the 1st quarter. Quantbot Technologies LP now owns 7,169 shares of the company's stock worth $67,000 after buying an additional 5,716 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new position in OppFi during the 4th quarter worth $65,000. Institutional investors own 7.10% 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.