Short Interest in OppFi Inc. (NYSE:OPFI) Drops By 13.5%

OppFi Inc. (NYSE:OPFI) saw a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 5,530,000 shares, a decrease of 13.5% from the February 13th total of 6,390,000 shares. Approximately 28.2% of the shares of the company are sold short. Based on an average daily volume of 1,870,000 shares, the days-to-cover ratio is currently 3.0 days.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Northland Securities set a $13.00 target price on shares of OppFi in a report on Thursday, March 6th. JMP Securities cut OppFi from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Finally, Citizens Jmp downgraded shares of OppFi from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th.

OppFi Trading Up 2.7 %

OPFI opened at $9.95 on Friday. The company has a fifty day moving average price of $11.67 and a two-hundred day moving average price of $8.00. OppFi has a 1-year low of $2.35 and a 1-year high of $17.73. The company has a market cap of $857.40 million, a P/E ratio of 62.16 and a beta of 1.63.

OppFi (NYSE:OPFI) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.09. OppFi had a return on equity of 35.04% and a net margin of 1.40%. The firm had revenue of $135.72 million during the quarter, compared to analysts’ expectations of $133.50 million. During the same quarter last year, the firm posted $0.10 earnings per share. On average, research analysts forecast that OppFi will post 0.86 EPS for the current fiscal year.

Insider Activity

In other OppFi news, Director Theodore G. Schwartz sold 79,559 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $9.13, for a total value of $726,373.67. Following the transaction, the director now directly owns 186,737 shares of the company’s stock, valued at $1,704,908.81. This represents a 29.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David Vennettilli sold 30,762 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $9.09, for a total transaction of $279,626.58. Following the transaction, the director now directly owns 90,762 shares in the company, valued at approximately $825,026.58. This represents a 25.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 338,927 shares of company stock valued at $3,153,476 over the last ninety days. 84.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OppFi

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ancora Advisors LLC bought a new stake in shares of OppFi in the 4th quarter worth $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of OppFi by 8.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,801 shares of the company’s stock valued at $83,000 after purchasing an additional 866 shares during the period. Mariner LLC purchased a new stake in shares of OppFi in the fourth quarter worth about $93,000. Quadrature Capital Ltd purchased a new stake in OppFi in the 3rd quarter worth approximately $60,000. Finally, MetLife Investment Management LLC bought a new position in shares of OppFi in the fourth quarter worth $98,000. Institutional investors and hedge funds 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.