OppFi (NYSE:OPFI) Trading Down 6.8% Following Insider Selling

OppFi Inc. (NYSE:OPFI) shares were down 6.8% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $9.80 and last traded at $10.01. Approximately 557,443 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 2,183,388 shares. The stock had previously closed at $10.74.

Specifically, Director Theodore G. Schwartz sold 165,174 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $10.58, for a total value of $1,747,540.92. Following the completion of the transaction, the director now owns 186,737 shares of the company’s stock, valued at approximately $1,975,677.46. This represents a 46.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theodore G. Schwartz sold 58,764 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $9.60, for a total value of $564,134.40. Following the completion of the transaction, the director now owns 186,737 shares of the company’s stock, valued at approximately $1,792,675.20. The trade was a 23.94 % decrease in their position. The disclosure for this sale can be found here. In related news, Director Theodore G. Schwartz sold 105,606 shares of OppFi stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $9.57, for a total transaction of $1,010,649.42. Following the completion of the transaction, the director now directly owns 186,737 shares of the company’s stock, valued at $1,787,073.09. This trade represents a 36.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

OPFI has been the subject of several recent research reports. JMP Securities lowered shares of OppFi from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Citizens Jmp cut OppFi from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Finally, Northland Securities set a $13.00 target price on OppFi in a research note on Thursday, March 6th.

OppFi Price Performance

The stock has a market cap of $805.73 million, a P/E ratio of 58.28 and a beta of 1.63. The firm’s 50 day moving average price is $11.63 and its 200-day moving average price is $8.19.

OppFi (NYSE:OPFI) last issued its earnings results on Wednesday, March 5th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.14 by $0.09. OppFi had a return on equity of 35.04% and a net margin of 1.40%. The business had revenue of $135.72 million for the quarter, compared to the consensus estimate of $133.50 million. During the same period last year, the business posted $0.10 EPS. On average, analysts expect that OppFi Inc. will post 0.86 earnings per share for the current year.

OppFi Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Friday, April 18th. Shareholders of record on Tuesday, April 8th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, April 8th.

Hedge Funds Weigh In On OppFi

Several hedge funds and other institutional investors have recently bought and sold shares of OPFI. Quadrature Capital Ltd purchased a new position in shares of OppFi during the third quarter valued at approximately $60,000. Jane Street Group LLC raised its stake 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 during the last quarter. XTX Topco Ltd bought a new position in shares of OppFi during the 3rd quarter valued at $136,000. Barclays PLC boosted 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 worth $199,000 after buying an additional 20,630 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of OppFi by 4.7% in the third quarter. Geode Capital Management LLC now owns 401,122 shares of the company’s stock worth $1,897,000 after acquiring an additional 18,149 shares during the period. Institutional investors own 7.10% of the company’s stock.

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.