Short Interest in OppFi Inc. (NYSE:OPFI) Rises By 24.9%

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on OPFI. JMP Securities upgraded OppFi from a "market perform" rating to a "market outperform" rating and set a $13.50 target price on the stock in a report on Thursday, May 8th. Citizens Jmp raised 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. Finally, Northland Securities set a $13.00 target price on OppFi in a research report on Thursday, March 6th.

Insider Activity

In related news, Director David Vennettilli sold 30,762 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $9.09, for a total value of $279,626.58. Following the completion of the transaction, the director now owns 90,762 shares of the company's stock, valued at $825,026.58. This represents a 25.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Theodore G. Schwartz sold 79,559 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $9.13, for a total value of $726,373.67. Following the completion of the transaction, the director now owns 186,737 shares of the company's stock, valued at $1,704,908.81. This represents a 29.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,374,418 shares of company stock worth $13,725,493. Corporate insiders own 72.00% of the company's stock.

Institutional Trading of OppFi

A number of hedge funds and other institutional investors have recently modified their holdings of OPFI. Northern Trust Corp increased its holdings in shares of OppFi by 23.1% in the 4th quarter. Northern Trust Corp now owns 155,282 shares of the company's stock worth $1,189,000 after purchasing an additional 29,171 shares in the last quarter. State of Wyoming bought a new stake in shares of OppFi in the 4th quarter worth about $214,000. Raymond James Financial Inc. bought a new stake in shares of OppFi in the 4th quarter valued at approximately $228,000. Bank of New York Mellon Corp raised its position in OppFi by 22.4% in the 4th quarter. Bank of New York Mellon Corp now owns 34,156 shares of the company's stock worth $262,000 after purchasing an additional 6,242 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of OppFi by 272.6% in the fourth quarter. JPMorgan Chase & Co. now owns 136,308 shares of the company's stock worth $1,044,000 after purchasing an additional 99,723 shares during the last quarter. 7.10% of the stock is owned by hedge funds and other institutional investors.

OppFi Stock Performance

NYSE:OPFI traded up $0.62 during trading hours on Friday, reaching $14.17. The stock had a trading volume of 1,426,196 shares, compared to its average volume of 899,027. The stock has a market cap of $1.23 billion, a P/E ratio of 88.57 and a beta of 1.73. OppFi has a 12-month low of $3.05 and a 12-month high of $17.73. The stock has a 50 day simple moving average of $10.44 and a 200 day simple moving average of $10.10.

OppFi (NYSE:OPFI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.26 by $0.12. OppFi had a return on equity of 35.04% and a net margin of 1.40%. The business had revenue of $140.27 million during the quarter, compared to analysts' expectations of $137.71 million. On average, equities analysts expect that OppFi will post 0.86 earnings per share for the current fiscal year.

OppFi Announces Dividend

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

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.