OppFi (NYSE:OPFI) Downgraded to Hold Rating by Zacks Research

Key Points

• Zacks Research downgraded OppFi from “strong buy” to “hold,” bringing the overall analyst consensus to “hold” with an average price target of $13.00.
• OppFi shares opened at $9.48, down 1.8%, with a market capitalization of approximately $809 million and a 52-week range of $7.36 to $12.60.
• The company’s latest quarterly results exceeded earnings expectations, reporting EPS of $0.35 versus the $0.33 consensus estimate, though revenue of $87.3 million fell well short of the $151.14 million forecast.

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 note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of OppFi from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 25th. Stephens increased their price objective on shares of OppFi from $9.00 to $11.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Weiss Ratings raised OppFi from a "sell (d+)" rating to a "hold (c)" rating in a report on Tuesday, May 12th. Citizens Jmp decreased their target price on OppFi from $16.00 to $15.00 and set a "market outperform" rating on the stock in a research report on Friday, April 17th. Finally, Citigroup restated a "market outperform" rating on shares of OppFi in a report on Friday, June 26th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $13.00.

OppFi Stock Down 1.8%

NYSE:OPFI opened at $9.48 on Tuesday. The business's 50-day simple moving average is $8.90 and its two-hundred day simple moving average is $8.91. OppFi has a 52 week low of $7.36 and a 52 week high of $12.60. The stock has a market cap of $809.33 million, a PE ratio of 10.19 and a beta of 1.76.

OppFi (NYSE:OPFI - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. The firm had revenue of $87.30 million during the quarter, compared to analyst estimates of $151.14 million. OppFi had a return on equity of 39.90% and a net margin of 10.86%. Sell-side analysts anticipate that OppFi will post 1.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director David Vennettilli sold 10,000 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the transaction, the director owned 132,389 shares of the company's stock, valued at approximately $1,323,890. The trade was a 7.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Christina M. Favilla sold 30,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $8.14, for a total value of $244,200.00. Following the sale, the director owned 156,737 shares in the company, valued at $1,275,839.18. The trade was a 16.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 70.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OPFI. Quarry LP raised its stake in shares of OppFi by 669.2% in the third quarter. Quarry LP now owns 3,492 shares of the company's stock valued at $40,000 after acquiring an additional 3,038 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of OppFi by 217.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,681 shares of the company's stock worth $65,000 after purchasing an additional 3,207 shares during the period. Quantbot Technologies LP boosted its stake in shares of OppFi by 20.8% during the 2nd quarter. Quantbot Technologies LP now owns 8,663 shares of the company's stock worth $121,000 after purchasing an additional 1,494 shares during the period. Kemnay Advisory Services Inc. bought a new position in OppFi during the 4th quarter valued at about $95,000. Finally, Jain Global LLC bought a new position in OppFi during the 4th quarter valued at about $112,000. Institutional investors own 7.10% of the company's stock.

OppFi Company Profile

OppFi NYSE: OPFI is a financial technology company that provides digital lending and credit solutions designed to meet the needs of near-prime consumers in the United States. Through its technology-driven platform, OppFi offers unsecured installment loans under the OppLoans brand, allowing borrowers to access credit online or via mobile devices. The company leverages proprietary data analytics and machine learning models to assess credit risk, streamline underwriting processes and deliver personalized loan products with transparent terms.

Headquartered in Chicago, Illinois, OppFi was founded in 2013 with a mission to increase financial inclusion for underserved and underbanked populations.

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