OppFi (NYSE:OPFI) Shares Up 5.1% – Still a Buy?

OppFi Inc. (NYSE:OPFI) shares traded up 5.1% on Wednesday . The company traded as high as $9.34 and last traded at $9.60. 76,655 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 2,252,476 shares. The stock had previously closed at $9.14.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Northland Securities set a $13.00 price target on shares of OppFi in a research note on Thursday, March 6th. Citizens Jmp lowered shares of OppFi from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Finally, JMP Securities lowered shares of OppFi from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th.

OppFi Price Performance

The stock’s 50-day moving average price is $11.60 and its 200 day moving average price is $7.97. The firm has a market cap of $825.76 million, a P/E ratio of 60.22 and a beta of 1.63.

OppFi (NYSE:OPFI) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.09. The business had revenue of $135.72 million for the quarter, compared to analyst estimates of $133.50 million. OppFi had a net margin of 1.40% and a return on equity of 35.04%. During the same quarter in the previous year, the firm posted $0.10 earnings per share. As a group, analysts forecast that OppFi Inc. will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David Vennettilli sold 30,762 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $9.09, for a total transaction of $279,626.58. Following the transaction, the director now directly owns 90,762 shares in the company, valued at approximately $825,026.58. The trade was a 25.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodore G. Schwartz sold 79,762 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $9.13, for a total transaction of $728,227.06. Following the transaction, the director now owns 186,737 shares in the company, valued at approximately $1,704,908.81. The trade was a 29.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 233,321 shares of company stock worth $2,142,826. Insiders own 84.00% of the company’s stock.

Hedge Funds Weigh In On OppFi

A number of institutional investors have recently added to or reduced their stakes in OPFI. Quadrature Capital Ltd acquired a new position in shares of OppFi in the third quarter valued at $60,000. Ancora Advisors LLC acquired a new position in shares of OppFi in the fourth quarter valued at $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 valued at $83,000 after purchasing an additional 866 shares during the last quarter. Mariner LLC acquired a new position in shares of OppFi in the fourth quarter valued at $93,000. Finally, MetLife Investment Management LLC acquired a new position in shares of OppFi in the fourth quarter valued at $98,000. 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.