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

OppFi Inc. (NYSE:OPFI) was down 10% on Tuesday . The stock 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.

Analyst Ratings Changes

A number of research firms recently issued reports on OPFI. JMP Securities downgraded shares of OppFi from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Northland Securities upped 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. Finally, Citizens Jmp cut shares of OppFi from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th.

OppFi Price Performance

The stock has a 50-day moving average price of $10.71 and a 200-day moving average price of $7.21. The firm has a market capitalization of $978.05 million, a PE ratio of 70.91 and a beta of 1.57.

Insider Buying and Selling at OppFi

In other OppFi news, Director David Vennettilli sold 22,301 shares of the firm’s stock in a transaction on 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 directly owns 121,524 shares of the company’s stock, valued at $933,304.32. This trade represents a 15.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 84.00% of the stock is owned by insiders.

Institutional Investors Weigh In On OppFi

Institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC boosted its holdings in OppFi by 4.7% in the fourth quarter. NewEdge Advisors LLC now owns 18,328 shares of the company’s stock worth $140,000 after purchasing an additional 831 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of OppFi by 8.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,801 shares of the company’s stock valued at $83,000 after buying an additional 866 shares during the period. Barclays PLC grew its position in shares of OppFi by 5.6% during the 4th quarter. Barclays PLC now owns 44,521 shares of the company’s stock valued at $341,000 after buying an additional 2,380 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in OppFi by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,359 shares of the company’s stock worth $416,000 after acquiring an additional 4,398 shares during the period. Finally, Jane Street Group LLC raised its stake in OppFi by 28.9% during the third quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock worth $122,000 after acquiring an additional 5,795 shares during the period. 7.10% of the stock is currently owned by 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.