OppFi (NYSE:OPFI) Stock Price Up 6.1% – Here’s Why

OppFi Inc. (NYSE:OPFI)’s share price was up 6.1% during trading on Friday . The stock traded as high as $17.73 and last traded at $17.36. Approximately 2,140,863 shares were traded during trading, a decline of 12% from the average daily volume of 2,421,093 shares. The stock had previously closed at $16.36.

Wall Street Analysts Forecast Growth

Separately, Northland Securities boosted their target price on OppFi from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th.

OppFi Stock Performance

The stock has a market capitalization of $1.46 billion, a P/E ratio of 105.72 and a beta of 1.56. The firm has a fifty day moving average price of $9.55 and a two-hundred day moving average price of $6.57.

OppFi (NYSE:OPFI) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.12. OppFi had a return on equity of 35.04% and a net margin of 1.40%. The business had revenue of $136.59 million during the quarter, compared to the consensus estimate of $128.94 million. During the same period in the previous year, the company posted $0.16 EPS. On average, research analysts anticipate that OppFi Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at OppFi

In other OppFi news, Director Jocelyn Moore sold 23,149 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $6.70, for a total value of $155,098.30. Following the completion of the sale, the director now owns 99,072 shares in the company, valued at $663,782.40. This represents a 18.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David Vennettilli sold 22,301 shares of OppFi stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $7.68, for a total value of $171,271.68. Following the transaction, the director now directly owns 121,524 shares in the company, valued at approximately $933,304.32. The trade was a 15.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 84.00% of the stock is owned by corporate insiders.

Institutional Trading of OppFi

A number of hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in OppFi by 271.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 36,585 shares of the company’s stock valued at $173,000 after buying an additional 26,742 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in OppFi in the 3rd quarter valued at $2,457,000. Barclays PLC lifted its stake in OppFi by 95.9% in the 3rd quarter. Barclays PLC now owns 42,141 shares of the company’s stock worth $199,000 after purchasing an additional 20,630 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new position in shares of OppFi during the 4th quarter valued at about $195,000. Finally, Geode Capital Management LLC grew its position in shares of OppFi by 4.7% during the third quarter. Geode Capital Management LLC now owns 401,122 shares of the company’s stock valued at $1,897,000 after purchasing an additional 18,149 shares in the last quarter. 7.10% of the stock is owned by hedge funds and other institutional investors.

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.