OppFi (NYSE:OPFI) Cut to Hold at Zacks Research

Key Points

• OppFi has been dropped from a "strong-buy" to a "hold" rating by Zacks Research analysts, indicating a cautious outlook on the stock.
• Currently, OppFi has a consensus rating of "Hold" with an average target price of $13.63, according to MarketBeat.com.
• Recent insider trading shows that a director and CFO sold significant shares, raising concerns about insider confidence in the company's future performance.

OppFi (NYSE:OPFI - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Weiss Ratings reiterated a "sell (d)" rating on shares of OppFi in a research note on Saturday, September 27th. Stephens started coverage on OppFi in a research note on Thursday, June 12th. They set an "equal weight" rating and a $14.50 price objective on the stock. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, OppFi currently has a consensus rating of "Hold" and an average target price of $13.63.

OppFi Trading Down 3.8%

Shares of NYSE:OPFI opened at $10.11 on Monday. OppFi has a 12-month low of $4.41 and a 12-month high of $17.73. The company has a market capitalization of $883.05 million, a PE ratio of -7.72 and a beta of 1.71. The business has a 50 day moving average of $10.73 and a two-hundred day moving average of $11.12.

OppFi (NYSE:OPFI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.30 by $0.15. The firm had revenue of $142.44 million during the quarter, compared to analysts' expectations of $141.19 million. OppFi had a positive return on equity of 53.83% and a negative net margin of 6.04%. Equities research analysts predict that OppFi will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at OppFi

In related news, Director Theodore G. Schwartz sold 102,325 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $10.80, for a total value of $1,105,110.00. Following the completion of the sale, the director owned 199,644 shares in the company, valued at approximately $2,156,155.20. This represents a 33.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Pamela D. Johnson sold 5,497 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $11.21, for a total transaction of $61,621.37. Following the completion of the transaction, the chief financial officer directly owned 154,521 shares of the company's stock, valued at $1,732,180.41. This trade represents a 3.44% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 469,811 shares of company stock worth $5,500,421. Insiders own 72.00% of the company's stock.

Institutional Trading of OppFi

A number of hedge funds have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. acquired a new position in OppFi in the second quarter valued at $25,000. Quarry LP bought a new position in shares of OppFi during the 1st quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL lifted its stake in OppFi by 65.5% in 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 in the last quarter. 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 worth $48,000 after buying an additional 4,953 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of OppFi by 217.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,681 shares of the company's stock worth $65,000 after buying an additional 3,207 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.