OppFi (NYSE:OPFI) Shares Down 4.6% Following Insider Selling

Shares of OppFi Inc. (NYSE:OPFI - Get Free Report) dropped 4.6% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $11.65 and last traded at $11.73. Approximately 469,387 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 1,638,543 shares. The stock had previously closed at $12.30.

Specifically, Director Theodore G. Schwartz sold 190,349 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $12.87, for a total transaction of $2,449,791.63. Following the transaction, the director now owns 199,644 shares in the company, valued at approximately $2,569,418.28. This represents a 48.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodore G. Schwartz sold 96,948 shares of OppFi stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $12.24, for a total transaction of $1,186,643.52. Following the completion of the sale, the director now directly owns 199,644 shares of the company's stock, valued at approximately $2,443,642.56. This trade represents a 32.69% decrease in their position. The disclosure for this sale can be found here. In related news, Director Gregory T. Zeeman sold 50,000 shares of OppFi stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $13.98, for a total value of $699,000.00. Following the completion of the sale, the director now owns 149,644 shares of the company's stock, valued at $2,092,023.12. The trade was a 25.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Ratings Changes

OPFI has been the subject of several recent research reports. Stephens initiated coverage on shares of OppFi in a research report on Thursday, June 12th. They set an "equal weight" rating and a $14.50 target price for the company. Citizens Jmp upgraded shares of OppFi from a "market perform" rating to an "outperform" rating and set a $13.50 price target on the stock in a research note on Thursday, May 8th. Northland Securities set a $13.00 price objective on shares of OppFi in a research report on Thursday, March 6th. Finally, JMP Securities upgraded OppFi from a "market perform" rating to a "market outperform" rating and set a $13.50 price target for the company in a research report on Thursday, May 8th.

OppFi Trading Up 2.3%

The company has a market cap of $1.12 billion, a P/E ratio of -34.80 and a beta of 1.73. The business's 50 day simple moving average is $11.23 and its 200 day simple moving average is $10.41.

OppFi (NYSE:OPFI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.12. The business had revenue of $140.27 million during the quarter, compared to analyst estimates of $137.71 million. OppFi had a positive return on equity of 48.24% and a negative net margin of 1.79%. Sell-side analysts anticipate that OppFi Inc. will post 0.86 EPS for the current year.

OppFi Dividend Announcement

The firm also recently announced a special dividend, which was paid on Friday, April 18th. Investors 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.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in shares of OppFi by 22.4% during the fourth quarter. Bank of New York Mellon Corp now owns 34,156 shares of the company's stock valued at $262,000 after buying an additional 6,242 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in OppFi by 97.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 148,344 shares of the company's stock valued at $1,136,000 after acquiring an additional 73,258 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in OppFi by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,359 shares of the company's stock valued at $416,000 after acquiring an additional 4,398 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in OppFi in the 4th quarter worth $282,000. Finally, Raymond James Financial Inc. bought a new position in shares of OppFi during the 4th quarter valued at about $228,000. 7.10% of the stock is owned by hedge funds and other institutional investors.

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.