OppFi (NYSE:OPFI) Shares Gap Up – Still a Buy?

OppFi Inc. (NYSE:OPFI)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $11.02, but opened at $11.65. OppFi shares last traded at $11.31, with a volume of 486,899 shares traded.

Analyst Ratings Changes

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

OppFi Trading Up 9.6 %

The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 75.15 and a beta of 1.45. The firm has a 50-day moving average of $7.91 and a 200-day moving average of $5.70.

Insider Activity at OppFi

In related news, Director David Vennettilli sold 100,000 shares of OppFi stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $6.45, for a total value of $645,000.00. Following the completion of the transaction, the director now owns 143,825 shares in the company, valued at approximately $927,671.25. The trade was a 41.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jocelyn Moore sold 23,149 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $6.70, for a total value of $155,098.30. Following the transaction, the director now directly owns 99,072 shares of the company’s stock, valued at approximately $663,782.40. This represents a 18.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,450 shares of company stock worth $971,370. 84.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC purchased a new stake in shares of OppFi in the third quarter valued at about $2,457,000. Geode Capital Management LLC raised its position 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 valued at $1,897,000 after buying an additional 18,149 shares during the last quarter. Marshall Wace LLP increased its stake in 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 purchasing an additional 33,347 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of OppFi during the 3rd quarter valued at $355,000. Finally, Barclays PLC lifted 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 valued at $199,000 after purchasing an additional 20,630 shares in the last quarter. Institutional investors and hedge funds 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.