OppFi (NYSE:OPFI) Trading 6.1% Higher – Still a Buy?

OppFi Inc. (NYSE:OPFI)’s stock price traded up 6.1% during trading on Friday . The stock traded as high as $17.73 and last traded at $17.36. 2,140,863 shares were traded during mid-day trading, a decline of 12% from the average session volume of 2,421,093 shares. The stock had previously closed at $16.36.

Analysts Set New Price Targets

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

OppFi Price Performance

The firm has a market cap of $1.46 billion, a PE ratio of 105.72 and a beta of 1.56. The company has a 50 day simple moving average of $9.55 and a 200-day simple moving average of $6.57.

OppFi (NYSE:OPFI) last released its earnings results on Thursday, November 7th. The company reported $0.33 EPS for the quarter, beating 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 company had revenue of $136.59 million for the quarter, compared to analyst estimates of $128.94 million. During the same quarter last year, the firm earned $0.16 EPS. On average, sell-side analysts predict that OppFi Inc. will post 0.86 EPS for the current fiscal year.

Insider Activity at OppFi

In related news, Director David Vennettilli sold 22,301 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 121,524 shares in the company, valued at $933,304.32. This represents a 15.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jocelyn Moore sold 23,149 shares of the business’s 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 transaction, the director now directly owns 99,072 shares in the company, valued at approximately $663,782.40. The trade was a 18.94 % 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 company insiders.

Institutional Investors Weigh In On OppFi

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC bought a new stake in shares of OppFi in the 3rd quarter worth approximately $2,457,000. Los Angeles Capital Management LLC bought a new stake in OppFi in the third quarter worth $355,000. Victory Capital Management Inc. purchased a new stake in shares of OppFi in the fourth quarter worth $282,000. Marshall Wace LLP increased 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 acquiring an additional 33,347 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of OppFi in the 4th quarter worth about $228,000. 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.