OppFi (NYSE:OPFI) Trading 10.8% Higher – Here’s Why

OppFi Inc. (NYSE:OPFI)’s stock price traded up 10.8% during mid-day trading on Tuesday . The company traded as high as $10.89 and last traded at $10.79. 767,697 shares were traded during mid-day trading, a decline of 66% from the average session volume of 2,241,995 shares. The stock had previously closed at $9.74.

Analyst Upgrades and Downgrades

Separately, Northland Securities increased their price target on 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 stock has a market cap of $972.88 million, a P/E ratio of 70.54 and a beta of 1.45. The stock’s 50 day simple moving average is $7.64 and its two-hundred day simple moving average is $5.53.

Insider Buying and Selling

In related news, Director David Vennettilli sold 22,301 shares of OppFi stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $7.68, for a total value of $171,271.68. Following the sale, the director now owns 121,524 shares of the company’s stock, valued at approximately $933,304.32. This trade represents a 15.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jocelyn Moore sold 23,149 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $6.70, for a total value of $155,098.30. Following the completion of the sale, the director now owns 99,072 shares in the company, valued at $663,782.40. The trade was a 18.94 % 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 worth $971,370 over the last ninety days. Company insiders own 84.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC bought a new stake in OppFi during the 3rd quarter worth about $2,457,000. Los Angeles Capital Management LLC acquired a new stake in shares of OppFi in the third quarter valued at about $355,000. Marshall Wace LLP increased its position in shares of OppFi by 24.2% in 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 during the last quarter. XTX Topco Ltd bought a new stake in OppFi during the third quarter worth about $136,000. Finally, JPMorgan Chase & Co. boosted its position in OppFi by 271.7% during the third quarter. JPMorgan Chase & Co. now owns 36,585 shares of the company’s stock valued at $173,000 after purchasing an additional 26,742 shares during the last quarter. 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.