OppFi (NYSE:OPFI) Shares Down 10% – Here’s Why

Shares of OppFi Inc. (NYSE:OPFI) were down 10% during mid-day trading on Tuesday . The company traded as low as $12.36 and last traded at $11.80. Approximately 628,991 shares traded hands during trading, a decline of 75% from the average daily volume of 2,547,869 shares. The stock had previously closed at $13.11.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Citizens Jmp downgraded OppFi from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. JMP Securities lowered OppFi from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. Finally, Northland Securities raised their price objective on OppFi from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, December 13th.

OppFi Stock Performance

The company’s 50 day simple moving average is $10.61 and its 200 day simple moving average is $7.18. The stock has a market cap of $1.03 billion, a PE ratio of 74.97 and a beta of 1.57.

Insider Buying and Selling

In related news, Director David Vennettilli sold 22,301 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $7.68, for a total transaction of $171,271.68. Following the completion of the transaction, the director now owns 121,524 shares in the company, valued at approximately $933,304.32. This represents a 15.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 84.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new stake in shares of OppFi during the 3rd quarter worth approximately $60,000. Ancora Advisors LLC purchased a new position in shares of OppFi during the 4th quarter valued at $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of OppFi by 8.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,801 shares of the company’s stock worth $83,000 after acquiring an additional 866 shares during the period. Mariner LLC purchased a new stake in OppFi in the 4th quarter worth about $93,000. Finally, MetLife Investment Management LLC purchased a new stake in OppFi during the fourth quarter valued at about $98,000. 7.10% of the stock is currently owned by hedge funds and other institutional investors.

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.