OppFi (NYSE:OPFI) Shares Gap Down – Should You Sell?

OppFi Inc. (NYSE:OPFI) shares gapped down prior to trading on Friday . The stock had previously closed at $8.96, but opened at $8.11. OppFi shares last traded at $8.12, with a volume of 271,123 shares.

Analyst Upgrades and Downgrades

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

OppFi Trading Down 7.4 %

The stock’s 50-day moving average price is $11.32 and its 200-day moving average price is $8.43. The company has a market capitalization of $716.73 million, a P/E ratio of 51.85 and a beta of 1.61.

OppFi (NYSE:OPFI) last issued its earnings results on Wednesday, March 5th. The company reported $0.23 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $135.72 million for the quarter, compared to analysts’ expectations of $133.50 million. During the same quarter last year, the company posted $0.10 earnings per share. Sell-side analysts expect that OppFi Inc. will post 0.86 earnings per share for the current fiscal year.

OppFi Announces Dividend

The company also recently declared a special dividend, which will be paid on Friday, April 18th. Stockholders of record on Tuesday, April 8th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 8th.

Insider Transactions at OppFi

In other news, Director David Vennettilli sold 43,238 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.45, for a total value of $408,599.10. Following the completion of the transaction, the director now owns 90,762 shares of the company’s stock, valued at approximately $857,700.90. This represents a 32.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Theodore G. Schwartz sold 124,788 shares of OppFi stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $9.31, for a total transaction of $1,161,776.28. Following the sale, the director now owns 186,737 shares in the company, valued at approximately $1,738,521.47. This represents a 40.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 687,653 shares of company stock worth $6,626,927. Insiders own 84.00% of the company’s stock.

Hedge Funds Weigh In On OppFi

Several large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its position in shares of OppFi by 52.6% during the 4th quarter. Renaissance Technologies LLC now owns 826,115 shares of the company’s stock valued at $6,328,000 after purchasing an additional 284,900 shares during the period. Marshall Wace LLP boosted its stake in OppFi by 249.2% during the fourth quarter. Marshall Wace LLP now owns 617,366 shares of the company’s stock valued at $4,729,000 after buying an additional 440,582 shares in the last quarter. Two Sigma Investments LP grew its holdings in OppFi by 19.8% during the fourth quarter. Two Sigma Investments LP now owns 447,260 shares of the company’s stock worth $3,426,000 after acquiring an additional 73,905 shares during the period. Two Sigma Advisers LP raised its position in OppFi by 27.9% in the fourth quarter. Two Sigma Advisers LP now owns 429,100 shares of the company’s stock worth $3,287,000 after acquiring an additional 93,700 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in OppFi by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 412,361 shares of the company’s stock valued at $3,160,000 after acquiring an additional 11,239 shares during the last quarter. Institutional investors and hedge funds own 7.10% of the company’s stock.

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.