OppFi (NYSE:OPFI) Reaches New 12-Month High – What’s Next?

Shares of OppFi Inc. (NYSE:OPFI) reached a new 52-week high during mid-day trading on Saturday . The company traded as high as $8.73 and last traded at $8.58, with a volume of 1465294 shares. The stock had previously closed at $8.08.

Analyst Upgrades and Downgrades

Separately, Northland Securities lifted 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 Trading Up 6.2 %

The firm has a 50-day simple moving average of $7.01 and a two-hundred day simple moving average of $5.20. The company has a market capitalization of $739.72 million, a price-to-earnings ratio of 53.63 and a beta of 1.45.

Insider Buying and Selling

In related news, Director David Vennettilli sold 100,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 143,825 shares in the company, valued at approximately $927,671.25. This represents 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 link. Also, Director Jocelyn Moore sold 23,149 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $6.70, for a total value of $155,098.30. Following the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,450 shares of company stock worth $971,370. Insiders own 84.00% of the company’s stock.

Hedge Funds Weigh In On OppFi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPFI. Quadrature Capital Ltd acquired a new stake in shares of OppFi in the third quarter valued at about $60,000. Brendel Financial Advisors LLC acquired a new stake in OppFi in the 3rd quarter valued at approximately $105,000. Jane Street Group LLC increased its position in OppFi by 28.9% in the 3rd quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock worth $122,000 after buying an additional 5,795 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of OppFi by 120.5% during the second quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock worth $124,000 after buying an additional 20,048 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of OppFi in the third quarter valued at approximately $136,000. 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.