OppFi (NYSE:OPFI) Stock Price Down 6.2% – Here’s Why

OppFi Inc. (NYSE:OPFI) shares fell 6.2% on Monday . The company traded as low as $6.76 and last traded at $6.84. 302,048 shares were traded during trading, a decline of 1% from the average session volume of 303,720 shares. The stock had previously closed at $7.29.

Analyst Ratings Changes

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

OppFi Trading Down 0.1 %

The firm has a market capitalization of $589.70 million, a P/E ratio of 42.81 and a beta of 1.44. The stock has a 50 day simple moving average of $6.08 and a 200-day simple moving average of $4.69.

Insider Activity at OppFi

In related news, Director David Vennettilli sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $6.45, for a total transaction of $645,000.00. Following the completion of the transaction, the director now directly owns 143,825 shares in the company, valued at approximately $927,671.25. The trade was a 41.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jocelyn Moore sold 23,149 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $6.70, for a total transaction of $155,098.30. Following the sale, the director now owns 99,072 shares in the company, valued at approximately $663,782.40. The trade was a 18.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,450 shares of company stock worth $971,370. 84.00% of the stock is owned by company insiders.

Institutional Trading of OppFi

A number of hedge funds and other institutional investors have recently modified their holdings of OPFI. Quadrature Capital Ltd purchased a new stake in shares of OppFi during the third quarter worth about $60,000. Brendel Financial Advisors LLC bought a new position in OppFi in the 3rd quarter worth approximately $105,000. Jane Street Group LLC grew its holdings in OppFi by 28.9% during the 3rd quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock valued at $122,000 after buying an additional 5,795 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of OppFi by 120.5% during the second quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock valued at $124,000 after buying an additional 20,048 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of OppFi in the third quarter worth $136,000. 7.10% of the stock is owned by hedge funds and other 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.