OppFi (NYSE:OPFI) Shares Down 5.5% on Insider Selling

OppFi Inc. (NYSE:OPFI)’s stock price was down 5.5% on Thursday after an insider sold shares in the company. The company traded as low as $11.51 and last traded at $11.44. Approximately 1,051,943 shares changed hands during mid-day trading, an increase of 26% from the average daily volume of 833,581 shares. The stock had previously closed at $12.10.

Specifically, Director Theodore G. Schwartz sold 114,475 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $12.25, for a total transaction of $1,402,318.75. Following the completion of the sale, the director now owns 186,737 shares in the company, valued at $2,287,528.25. This represents a 38.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

A number of analysts recently weighed in on OPFI shares. JMP Securities upgraded shares of OppFi from a “market perform” rating to a “market outperform” rating and set a $13.50 price target for the company in a research note on Thursday, May 8th. Citizens Jmp upgraded shares of OppFi from a “market perform” rating to an “outperform” rating and set a $13.50 price objective for the company in a research report on Thursday, May 8th. Finally, Northland Securities set a $13.00 price objective on shares of OppFi in a research report on Thursday, March 6th.

OppFi Stock Performance

The company has a market cap of $1.02 billion, a PE ratio of 73.79 and a beta of 1.61. The stock’s 50-day simple moving average is $9.52 and its 200 day simple moving average is $9.41.

OppFi (NYSE:OPFI) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. The company had revenue of $140.27 million during the quarter, compared to the consensus estimate of $137.71 million. OppFi had a net margin of 1.40% and a return on equity of 35.04%. On average, sell-side analysts predict that OppFi Inc. will post 0.86 EPS for the current fiscal year.

OppFi Announces Dividend

The business also recently declared a special dividend, which was paid on Friday, April 18th. Stockholders of record on Tuesday, April 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, April 8th.

Hedge Funds Weigh In On OppFi

A number of large investors have recently made changes to their positions in OPFI. Marshall Wace LLP increased its holdings in shares of OppFi by 249.2% in the 4th quarter. Marshall Wace LLP now owns 617,366 shares of the company’s stock valued at $4,729,000 after purchasing an additional 440,582 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of OppFi by 52.6% in the 4th quarter. Renaissance Technologies LLC now owns 826,115 shares of the company’s stock valued at $6,328,000 after purchasing an additional 284,900 shares in the last quarter. Trexquant Investment LP increased its holdings in shares of OppFi by 232.4% in the 1st quarter. Trexquant Investment LP now owns 392,333 shares of the company’s stock valued at $3,649,000 after purchasing an additional 274,318 shares in the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of OppFi by 310.7% in the 4th quarter. Tudor Investment Corp ET AL now owns 276,331 shares of the company’s stock valued at $2,117,000 after purchasing an additional 209,045 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of OppFi by 1,745.7% in the 4th quarter. Bank of America Corp DE now owns 206,317 shares of the company’s stock valued at $1,580,000 after purchasing an additional 195,139 shares in the last quarter. Hedge funds and other 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.