OppFi (NYSE:OPFI) Shares Gap Up – What’s Next?

OppFi Inc. (NYSE:OPFI) gapped up prior to trading on Monday . The stock had previously closed at $9.76, but opened at $10.30. OppFi shares last traded at $10.09, with a volume of 224,742 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OPFI shares. Citizens Jmp lowered shares of OppFi from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Northland Securities set a $13.00 target price on shares of OppFi in a research note on Thursday, March 6th. Finally, JMP Securities lowered shares of OppFi from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th.

OppFi Stock Performance

The business’s 50 day simple moving average is $11.68 and its 200-day simple moving average is $8.08. The stock has a market capitalization of $914.73 million, a price-to-earnings ratio of 66.32 and a beta of 1.63.

OppFi (NYSE:OPFI) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.09. OppFi had a net margin of 1.40% and a return on equity of 35.04%. The company had revenue of $135.72 million for the quarter, compared to the consensus estimate of $133.50 million. During the same period in the previous year, the firm earned $0.10 EPS. As a group, sell-side analysts expect that OppFi Inc. will post 0.86 EPS for the current year.

Insiders Place Their Bets

In other OppFi news, Director Theodore G. Schwartz sold 79,559 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $9.13, for a total transaction of $726,373.67. Following the sale, the director now directly owns 186,737 shares in the company, valued at approximately $1,704,908.81. The trade was a 29.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Vennettilli sold 30,762 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.09, for a total transaction of $279,626.58. Following the completion of the sale, the director now owns 90,762 shares in the company, valued at $825,026.58. The trade was a 25.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 338,927 shares of company stock worth $3,153,476. 84.00% of the stock is owned by corporate insiders.

Institutional Trading of OppFi

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp bought a new stake in shares of OppFi in the 4th quarter worth approximately $131,000. Wolverine Trading LLC bought a new stake in shares of OppFi in the 4th quarter worth approximately $630,000. Squarepoint Ops LLC bought a new stake in shares of OppFi in the 4th quarter worth approximately $218,000. Two Sigma Advisers LP raised its holdings in shares of OppFi by 27.9% in the 4th quarter. Two Sigma Advisers LP now owns 429,100 shares of the company’s stock worth $3,287,000 after purchasing an additional 93,700 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in shares of OppFi by 19.8% in the fourth quarter. Two Sigma Investments LP now owns 447,260 shares of the company’s stock worth $3,426,000 after acquiring an additional 73,905 shares in the last quarter. 7.10% of the stock is currently owned by institutional investors.

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.