OppFi (NYSE:OPFI) Shares Gap Up – Still a Buy?

OppFi Inc. (NYSE:OPFI)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $11.02, but opened at $11.65. OppFi shares last traded at $11.31, with a volume of 486,899 shares trading hands.

Analysts Set New Price Targets

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

OppFi Price Performance

The stock has a market capitalization of $1.02 billion, a P/E ratio of 74.00 and a beta of 1.45. The firm has a 50-day simple moving average of $8.10 and a 200 day simple moving average of $5.80.

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

Insider Buying and Selling

In other news, Director Jocelyn Moore sold 23,149 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $6.70, for a total transaction 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. This represents a 18.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Vennettilli sold 22,301 shares of OppFi stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $7.68, for a total transaction of $171,271.68. Following the transaction, the director now directly owns 121,524 shares of the company’s stock, valued at $933,304.32. This represents a 15.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 145,450 shares of company stock valued at $971,370 over the last 90 days. 84.00% of the stock is owned by insiders.

Institutional Trading of OppFi

A number of large investors have recently bought and sold shares of the business. Segall Bryant & Hamill LLC acquired a new position in shares of OppFi during the 3rd quarter valued at $2,457,000. Geode Capital Management LLC increased its stake in OppFi by 4.7% in 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. Marshall Wace LLP raised its holdings in shares of OppFi by 24.2% during the second quarter. Marshall Wace LLP now owns 171,318 shares of the company’s stock valued at $581,000 after purchasing an additional 33,347 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of OppFi during the 3rd quarter worth about $355,000. Finally, Barclays PLC grew its stake in shares of OppFi by 95.9% in the 3rd quarter. Barclays PLC now owns 42,141 shares of the company’s stock valued at $199,000 after buying an additional 20,630 shares during the period. 7.10% of the stock is currently owned by institutional investors and hedge funds.

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.