Elgethun Capital Management Reduces Stake in OppFi Inc. (NYSE:OPFI)

Elgethun Capital Management lessened its position in shares of OppFi Inc. (NYSE:OPFI) by 28.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 525,378 shares of the company’s stock after selling 207,969 shares during the period. OppFi makes up approximately 1.0% of Elgethun Capital Management’s holdings, making the stock its 28th largest holding. Elgethun Capital Management’s holdings in OppFi were worth $4,024,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in OPFI. Wells Fargo & Company MN grew its stake in OppFi by 577.2% in the 4th quarter. Wells Fargo & Company MN now owns 42,144 shares of the company’s stock worth $323,000 after buying an additional 35,921 shares in the last quarter. Trexquant Investment LP bought a new position in OppFi in the fourth quarter valued at $904,000. Geode Capital Management LLC lifted its stake in OppFi by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 412,361 shares of the company’s stock worth $3,160,000 after purchasing an additional 11,239 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of OppFi by 153.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 90,865 shares of the company’s stock valued at $696,000 after purchasing an additional 55,056 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in OppFi by 272.6% in the 4th quarter. JPMorgan Chase & Co. now owns 136,308 shares of the company’s stock worth $1,044,000 after buying an additional 99,723 shares during the last quarter. Institutional investors own 7.10% of the company’s stock.

OppFi Stock Performance

NYSE OPFI opened at $8.30 on Monday. OppFi Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $17.73. The stock has a market cap of $716.73 million, a P/E ratio of 51.85 and a beta of 1.61. The stock has a 50 day simple moving average of $11.32 and a two-hundred day simple moving average of $8.46.

OppFi (NYSE:OPFI) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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 business 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. Sell-side analysts predict that OppFi Inc. will post 0.86 earnings per share for the current year.

OppFi Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Friday, April 18th. Shareholders of record on Tuesday, April 8th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, April 8th.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at OppFi

In other news, Director David Vennettilli sold 30,762 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $9.09, for a total value of $279,626.58. Following the sale, the director now directly owns 90,762 shares of the company’s stock, valued at approximately $825,026.58. This represents a 25.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Theodore G. Schwartz sold 165,174 shares of OppFi stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $10.58, for a total value of $1,747,540.92. Following the completion of the transaction, the director now directly owns 186,737 shares of the company’s stock, valued at approximately $1,975,677.46. This represents a 46.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 687,653 shares of company stock valued at $6,626,927. 84.00% of the stock is currently owned by corporate insiders.

OppFi 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.