OppFi (NYSE:OPFI) Stock Price Down 4.5% - Here's What Happened

OppFi Inc. (NYSE:OPFI - Get Free Report) was down 4.5% on Monday . The stock traded as low as $13.40 and last traded at $13.55. Approximately 342,928 shares changed hands during trading, a decline of 62% from the average daily volume of 899,967 shares. The stock had previously closed at $14.18.

Analyst Ratings Changes

A number of brokerages recently issued reports on OPFI. 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. Citizens Jmp upgraded shares of OppFi from a "market perform" rating to an "outperform" rating and set a $13.50 target price for the company in a report on Thursday, May 8th. Finally, Northland Securities set a $13.00 price target on shares of OppFi in a research note on Thursday, March 6th.

OppFi Trading Down 0.2%

The company has a 50-day simple moving average of $10.63 and a 200 day simple moving average of $10.21. The company has a market cap of $1.21 billion, a P/E ratio of 86.89 and a beta of 1.73.

OppFi (NYSE:OPFI - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $140.27 million during the quarter, compared to analyst estimates of $137.71 million. OppFi had a net margin of 1.40% and a return on equity of 35.04%. On average, equities analysts forecast that OppFi Inc. will post 0.86 EPS for the current fiscal year.

OppFi Announces Dividend

The company also recently declared a special dividend, which was paid on Friday, April 18th. Stockholders 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 Activity at OppFi

In other OppFi news, insider Christopher J. Mckay sold 10,377 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $7.54, for a total transaction of $78,242.58. Following the completion of the sale, the insider now directly owns 227,421 shares of the company's stock, valued at approximately $1,714,754.34. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Theodore G. Schwartz sold 185,086 shares of OppFi stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $11.59, for a total transaction of $2,145,146.74. Following the completion of the transaction, the director now directly owns 186,737 shares in the company, valued at approximately $2,164,281.83. The trade was a 49.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,343,656 shares of company stock worth $13,445,867 over the last three months. 72.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OppFi

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP boosted its position in shares of OppFi by 249.2% in the 4th quarter. Marshall Wace LLP now owns 617,366 shares of the company's stock worth $4,729,000 after purchasing an additional 440,582 shares in the last quarter. Renaissance Technologies LLC raised its stake in OppFi by 52.6% in the fourth quarter. Renaissance Technologies LLC now owns 826,115 shares of the company's stock valued at $6,328,000 after buying an additional 284,900 shares during the last quarter. Trexquant Investment LP boosted its holdings in OppFi by 232.4% in the first quarter. Trexquant Investment LP now owns 392,333 shares of the company's stock worth $3,649,000 after acquiring an additional 274,318 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in shares of OppFi by 310.7% during the fourth quarter. Tudor Investment Corp ET AL now owns 276,331 shares of the company's stock worth $2,117,000 after acquiring an additional 209,045 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of OppFi by 1,745.7% during the fourth quarter. Bank of America Corp DE now owns 206,317 shares of the company's stock valued at $1,580,000 after acquiring an additional 195,139 shares in the last quarter. 7.10% of the stock is currently owned by institutional investors and hedge funds.

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.