OppFi (NYSE:OPFI) Reaches New 52-Week High – Here’s Why

OppFi Inc. (NYSE:OPFI) shares hit a new 52-week high on Wednesday . The company traded as high as $14.41 and last traded at $13.81, with a volume of 3269803 shares. The stock had previously closed at $12.49.

Wall Street Analysts Forecast Growth

Separately, Northland Securities raised their target price on shares of OppFi from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, December 13th.

OppFi Price Performance

The business has a 50 day moving average price of $8.58 and a 200 day moving average price of $6.08. The stock has a market capitalization of $1.19 billion, a PE ratio of 86.29 and a beta of 1.45.

OppFi (NYSE:OPFI) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.21 by $0.12. The company had revenue of $136.59 million for the quarter, compared to the consensus estimate of $128.94 million. OppFi had a net margin of 1.40% and a return on equity of 35.04%. During the same period in the prior year, the firm posted $0.16 EPS. On average, equities analysts expect that OppFi Inc. will post 0.86 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jocelyn Moore sold 23,149 shares of the firm’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 sale, the director now owns 99,072 shares in the company, valued at approximately $663,782.40. This trade represents a 18.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Vennettilli sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $6.45, for a total transaction of $645,000.00. Following the sale, the director now owns 143,825 shares of the company’s stock, valued at approximately $927,671.25. This represents a 41.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 145,450 shares of company stock worth $971,370 in the last three months. Insiders own 84.00% of the company’s stock.

Institutional Trading of OppFi

Several large investors have recently modified their holdings of OPFI. Segall Bryant & Hamill LLC purchased a new position in OppFi in the third quarter worth about $2,457,000. Geode Capital Management LLC boosted 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 buying an additional 18,149 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of OppFi by 24.2% in the second quarter. Marshall Wace LLP now owns 171,318 shares of the company’s stock worth $581,000 after buying an additional 33,347 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in OppFi during the third quarter valued at approximately $355,000. Finally, Barclays PLC increased its holdings in OppFi by 95.9% during the third quarter. Barclays PLC now owns 42,141 shares of the company’s stock valued at $199,000 after buying an additional 20,630 shares during the last quarter. Institutional investors own 7.10% of the company’s stock.

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.