OppFi (NYSE:OPFI) Shares Down 10.3% - Time to Sell?

Key Points

• OppFi Inc. (NYSE:OPFI) saw its stock price decline by 10.3% on Tuesday, trading as low as $9.54, and experiencing a significant drop in trading volume.
• Despite the recent downturn, analysts maintain a consensus "Buy" rating for the stock, with an average price target of $13.63.
• Insider transactions revealed substantial selling activity, with one director selling over 102,000 shares valued at more than $1.1 million in August.

OppFi Inc. (NYSE:OPFI - Get Free Report)'s stock price dropped 10.3% during mid-day trading on Tuesday . The company traded as low as $9.54 and last traded at $9.50. Approximately 1,000,748 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 1,519,161 shares. The stock had previously closed at $10.60.

Analyst Ratings Changes

Several research analysts have commented on OPFI shares. Stephens began coverage on shares of OppFi in a research report on Thursday, June 12th. They set an "equal weight" rating and a $14.50 price objective for the company. Citizens Jmp raised OppFi from a "market perform" rating to an "outperform" rating and set a $13.50 price target for the company in a report on Thursday, May 8th. Zacks Research upgraded OppFi to a "strong-buy" rating in a research report on Friday, August 8th. Finally, JMP Securities upgraded OppFi from a "market perform" rating to a "market outperform" rating and set a $13.50 target price on the stock in a research report on Thursday, May 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $13.63.

OppFi Price Performance

The firm's fifty day moving average price is $11.89 and its 200-day moving average price is $11.18. The company has a market capitalization of $856.07 million, a price-to-earnings ratio of -7.48 and a beta of 1.71.

OppFi (NYSE:OPFI - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $142.44 million during the quarter, compared to analysts' expectations of $141.19 million. On average, research analysts predict that OppFi Inc. will post 0.86 earnings per share for the current year.

Insider Activity

In other news, Director Theodore G. Schwartz sold 190,349 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $12.87, for a total value of $2,449,791.63. Following the completion of the transaction, the director directly owned 199,644 shares in the company, valued at approximately $2,569,418.28. This represents a 48.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory T. Zeeman sold 50,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $13.98, for a total value of $699,000.00. Following the completion of the transaction, the director owned 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 1,055,699 shares of company stock worth $12,935,298. Insiders own 72.00% of the company's stock.

Hedge Funds Weigh In On OppFi

Hedge funds have recently modified their holdings of the business. Financial Management Professionals Inc. acquired a new position in shares of OppFi during the second quarter worth $25,000. Quarry LP acquired a new position in shares of OppFi during the first quarter worth $27,000. Strategic Investment Solutions Inc. IL lifted its holdings in shares of OppFi by 65.5% during 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 period. Russell Investments Group Ltd. lifted its holdings in shares of OppFi by 217.6% during the second 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. Finally, GAMMA Investing LLC lifted its holdings in shares of OppFi by 2,488.9% during the first quarter. GAMMA Investing LLC now owns 5,152 shares of the company's stock worth $48,000 after purchasing an additional 4,953 shares during the period. 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.