OppFi (NYSE:OPFI) Reaches New 52-Week High – Should You Buy?

Shares of OppFi Inc. (NYSE:OPFI) hit a new 52-week high during trading on Tuesday . The company traded as high as $7.29 and last traded at $7.16, with a volume of 377441 shares trading hands. The stock had previously closed at $6.91.

Wall Street Analysts Forecast Growth

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

OppFi Stock Performance

The firm has a market capitalization of $613.82 million, a PE ratio of 43.25 and a beta of 1.20. The company’s 50 day simple moving average is $5.10 and its 200-day simple moving average is $4.18.

Insiders Place Their Bets

In other OppFi news, Director Jocelyn Moore sold 23,149 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $6.70, for a total value of $155,098.30. Following the completion of the transaction, the director now directly owns 99,072 shares in the company, valued at approximately $663,782.40. This represents a 18.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Vennettilli sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $6.45, for a total transaction of $645,000.00. Following the sale, the director now owns 143,825 shares in the company, valued at approximately $927,671.25. This trade represents a 41.01 % decrease in their position. The disclosure for this sale can be found here. 84.00% of the stock is owned by insiders.

Institutional Investors Weigh In On OppFi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPFI. Vanguard Group Inc. raised its position in shares of OppFi by 0.6% during the first quarter. Vanguard Group Inc. now owns 823,916 shares of the company’s stock valued at $2,060,000 after buying an additional 5,218 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of OppFi by 28.9% in the 3rd quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock worth $122,000 after buying an additional 5,795 shares during the last quarter. Heron Bay Capital Management increased its stake in OppFi by 18.5% during the first quarter. Heron Bay Capital Management now owns 45,788 shares of the company’s stock worth $114,000 after acquiring an additional 7,141 shares during the last quarter. LB Partners LLC increased its position in shares of OppFi by 1.3% during the 2nd quarter. LB Partners LLC now owns 920,970 shares of the company’s stock valued at $3,122,000 after purchasing an additional 11,948 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of OppFi during the 3rd quarter worth about $60,000. 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.