OppFi (NYSE:OPFI) Hits New 12-Month High – Should You Buy?

OppFi Inc. (NYSE:OPFI)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $7.29 and last traded at $7.16, with a volume of 377441 shares traded. The stock had previously closed at $6.91.

Wall Street Analyst Weigh In

Separately, Northland Securities lifted their target price on OppFi from $6.00 to $8.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th.

OppFi Price Performance

The firm has a market capitalization of $612.09 million, a P/E ratio of 44.38 and a beta of 1.20. The firm has a 50-day moving average price of $5.22 and a two-hundred day moving average price of $4.23.

Insider Activity at OppFi

In related news, Director Jocelyn Moore sold 23,149 shares of OppFi 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 directly owns 99,072 shares in the company, valued at $663,782.40. The trade was a 18.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David Vennettilli sold 100,000 shares of OppFi stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $6.45, for a total value of $645,000.00. Following the completion of the sale, the director now owns 143,825 shares of the company’s stock, valued at $927,671.25. The trade was a 41.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 84.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OppFi

A number of large investors have recently added to or reduced their stakes in OPFI. Acadian Asset Management LLC bought a new position in OppFi in the first quarter worth about $51,000. Quadrature Capital Ltd bought a new position in OppFi in the third quarter worth about $60,000. Brendel Financial Advisors LLC bought a new position in OppFi in the third quarter worth about $105,000. Jane Street Group LLC raised its holdings in OppFi by 28.9% in the third quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock worth $122,000 after purchasing an additional 5,795 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in OppFi by 120.5% in the second quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock worth $124,000 after purchasing an additional 20,048 shares in the last quarter. 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.