Bank of New York Mellon Corp Purchases 6,242 Shares of OppFi Inc. (NYSE:OPFI)

Bank of New York Mellon Corp lifted its holdings in OppFi Inc. (NYSE:OPFI) by 22.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,156 shares of the company’s stock after purchasing an additional 6,242 shares during the period. Bank of New York Mellon Corp’s holdings in OppFi were worth $262,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Quadrature Capital Ltd acquired a new position in OppFi during the 3rd quarter valued at $60,000. Jane Street Group LLC raised its position in shares of OppFi by 28.9% during the third 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 stake in shares of OppFi in the third quarter valued at about $136,000. JPMorgan Chase & Co. grew its position in OppFi by 271.7% during the third quarter. JPMorgan Chase & Co. now owns 36,585 shares of the company’s stock worth $173,000 after buying an additional 26,742 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new position in OppFi during the fourth quarter valued at about $195,000. 7.10% of the stock is currently owned by institutional investors.

OppFi Stock Up 2.0 %

NYSE:OPFI opened at $9.51 on Friday. The firm has a market capitalization of $821.28 million, a PE ratio of 59.41 and a beta of 1.63. OppFi Inc. has a 12-month low of $2.38 and a 12-month high of $17.73. The firm has a 50-day moving average price of $11.59 and a 200 day moving average price of $8.26.

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

OppFi Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Friday, April 18th. Shareholders of record on Tuesday, April 8th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 8th.

Insider Activity

In other OppFi news, Director Theodore G. Schwartz sold 79,559 shares of OppFi stock in a transaction on Monday, March 17th. The stock was sold at an average price of $9.13, for a total value of $726,373.67. Following the completion of the transaction, the director now owns 186,737 shares in the company, valued at approximately $1,704,908.81. The trade was a 29.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Vennettilli sold 43,238 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.45, for a total value of $408,599.10. Following the completion of the transaction, the director now directly owns 90,762 shares in the company, valued at approximately $857,700.90. This represents a 32.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 687,653 shares of company stock worth $6,626,927. Corporate insiders own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Northland Securities set a $13.00 price objective on OppFi in a research report on Thursday, March 6th. Citizens Jmp lowered OppFi from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Finally, JMP Securities downgraded shares of OppFi from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th.

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.