OppFi (NYSE:OPFI) Trading 6.2% Higher - Should You Buy?

Key Points

• OppFi's stock increased by 6.2% to $12.22, despite a significant drop in trading volume, down 57% compared to the average daily volume.
• Analysts have a consensus rating of "Buy" for OppFi with a target price of $13.63, with Zacks Research upgrading it to a "strong-buy" rating.
• Insider trading activity included the sale of over 469,000 shares in the last three months, reflecting a significant shift in ownership among company executives.

OppFi Inc. (NYSE:OPFI - Get Free Report)'s stock price was up 6.2% on Thursday . The stock traded as high as $11.99 and last traded at $12.22. Approximately 619,899 shares were traded during trading, a decline of 57% from the average daily volume of 1,449,622 shares. The stock had previously closed at $11.51.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Stephens assumed coverage on OppFi in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $14.50 target price on the stock. Zacks Research raised OppFi to a "strong-buy" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, OppFi presently has a consensus rating of "Buy" and a consensus price target of $13.63.

OppFi Stock Up 6.1%

The firm has a 50 day moving average of $10.75 and a 200 day moving average of $10.99. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -9.33 and a beta of 1.70.

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

Insider Buying and Selling

In other news, Director Theodore G. Schwartz sold 102,325 shares of OppFi stock in a transaction on 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 transaction, the director directly owned 199,644 shares in the company, valued at approximately $2,156,155.20. The trade was a 33.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Pamela D. Johnson sold 5,495 shares of OppFi stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $13.41, for a total value of $73,687.95. Following the completion of the transaction, the chief financial officer owned 164,570 shares of the company's stock, valued at approximately $2,206,883.70. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 469,809 shares of company stock worth $5,532,354. 72.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On OppFi

A number of hedge funds and other institutional investors have recently modified their holdings of OPFI. JPMorgan Chase & Co. raised its position in shares of OppFi by 3,200.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 296,399 shares of the company's stock worth $4,147,000 after acquiring an additional 287,418 shares in the last quarter. Trexquant Investment LP boosted its stake in OppFi by 232.4% during the 1st quarter. Trexquant Investment LP now owns 392,333 shares of the company's stock valued at $3,649,000 after purchasing an additional 274,318 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of OppFi by 1,745.7% during the 4th quarter. Bank of America Corp DE now owns 206,317 shares of the company's stock valued at $1,580,000 after buying an additional 195,139 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of OppFi by 450.8% during the 1st quarter. Victory Capital Management Inc. now owns 202,986 shares of the company's stock valued at $1,888,000 after buying an additional 166,130 shares during the period. Finally, Globeflex Capital L P lifted its holdings in shares of OppFi by 78.1% during the 2nd quarter. Globeflex Capital L P now owns 334,441 shares of the company's stock valued at $4,679,000 after buying an additional 146,645 shares during the period. Institutional investors own 7.10% of the company's stock.

OppFi Company Profile

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.

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