OppFi (NYSE:OPFI) Shares Down 3.7% - Here's Why

OppFi Inc. (NYSE:OPFI - Get Free Report)'s share price fell 3.7% during mid-day trading on Thursday . The company traded as low as $12.78 and last traded at $12.72. 454,278 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 866,711 shares. The stock had previously closed at $13.21.

Wall Street Analysts Forecast Growth

OPFI has been the topic of a number of recent analyst reports. Northland Securities set a $13.00 price target on shares of OppFi in a report on Thursday, March 6th. JMP Securities raised shares of OppFi from a "market perform" rating to a "market outperform" rating and set a $13.50 price target on the stock in a report on Thursday, May 8th. Finally, Citizens Jmp raised shares of OppFi from a "market perform" rating to an "outperform" rating and set a $13.50 price target on the stock in a report on Thursday, May 8th.

OppFi Price Performance

The business's 50 day moving average is $10.04 and its two-hundred day moving average is $9.86. The firm has a market capitalization of $1.10 billion, a PE ratio of 79.13 and a beta of 1.61.

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

OppFi Announces Dividend

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

Insider Buying and Selling at OppFi

In other OppFi news, Director David Vennettilli sold 43,238 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $9.45, for a total transaction of $408,599.10. Following the transaction, the director now directly owns 90,762 shares in the company, valued at $857,700.90. This trade represents a 32.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Theodore G. Schwartz sold 114,475 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $12.25, for a total transaction of $1,402,318.75. Following the transaction, the director now owns 186,737 shares in the company, valued at $2,287,528.25. The trade was a 38.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,417,656 shares of company stock worth $14,134,092 over the last ninety days. Insiders own 72.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC grew its holdings in shares of OppFi by 4.7% in the fourth quarter. NewEdge Advisors LLC now owns 18,328 shares of the company's stock worth $140,000 after purchasing an additional 831 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of OppFi by 8.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,801 shares of the company's stock worth $83,000 after purchasing an additional 866 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in shares of OppFi by 65.5% in the first 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 last quarter. Wolverine Asset Management LLC grew its holdings in shares of OppFi by 13.7% in the first quarter. Wolverine Asset Management LLC now owns 15,301 shares of the company's stock worth $142,000 after purchasing an additional 1,845 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of OppFi by 5.6% in the fourth quarter. Barclays PLC now owns 44,521 shares of the company's stock worth $341,000 after purchasing an additional 2,380 shares during the last quarter. 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.