OppFi (NYSE:OPFI) Shares Gap Up – Here’s Why

OppFi Inc. (NYSE:OPFI)’s share price gapped up before the market opened on Monday . The stock had previously closed at $9.76, but opened at $10.30. OppFi shares last traded at $10.09, with a volume of 224,742 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OPFI. JMP Securities downgraded shares of OppFi from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Citizens Jmp downgraded shares of OppFi from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Finally, Northland Securities set a $13.00 target price on shares of OppFi in a research report on Thursday, March 6th.

OppFi Price Performance

The company has a 50-day moving average of $11.70 and a two-hundred day moving average of $8.17. The stock has a market capitalization of $927.99 million, a PE ratio of 67.13 and a beta of 1.63.

OppFi (NYSE:OPFI) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.09. OppFi had a net margin of 1.40% and a return on equity of 35.04%. The company had revenue of $135.72 million during the quarter, compared to the consensus estimate of $133.50 million. During the same quarter in the prior year, the company posted $0.10 EPS. On average, research analysts forecast that OppFi Inc. will post 0.86 EPS for the current fiscal year.

OppFi Announces Dividend

The business also recently declared a special dividend, which will be paid on Friday, April 18th. Shareholders of record on Tuesday, April 8th will be issued a $0.25 dividend.

Insider Activity

In other news, Director David Vennettilli sold 30,762 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $9.09, for a total transaction of $279,626.58. Following the completion of the sale, the director now owns 90,762 shares in the company, valued at approximately $825,026.58. The trade was a 25.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodore G. Schwartz sold 79,762 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 186,737 shares of the company’s stock, valued at approximately $1,704,908.81. This trade represents a 29.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 397,691 shares of company stock valued at $3,717,610 in the last ninety days. Company insiders own 84.00% of the company’s stock.

Hedge Funds Weigh In On OppFi

Several hedge funds and other institutional investors have recently made changes to their positions in OPFI. NewEdge Advisors LLC lifted its position in OppFi by 4.7% during the 4th quarter. NewEdge Advisors LLC now owns 18,328 shares of the company’s stock worth $140,000 after acquiring an additional 831 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of OppFi by 8.7% during 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 period. Barclays PLC lifted its position in shares of OppFi by 5.6% during the fourth quarter. Barclays PLC now owns 44,521 shares of the company’s stock worth $341,000 after purchasing an additional 2,380 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of OppFi by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,359 shares of the company’s stock valued at $416,000 after purchasing an additional 4,398 shares during the period. Finally, Jane Street Group LLC grew its holdings in OppFi by 28.9% during the 3rd quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock valued at $122,000 after purchasing an additional 5,795 shares in the last quarter. 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.