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

Shares of 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 trading hands.

Analyst Upgrades and Downgrades

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

OppFi Trading Up 8.7 %

The stock has a market cap of $914.73 million, a PE ratio of 66.32 and a beta of 1.63. The company’s 50 day moving average is $11.68 and its 200-day moving average is $8.08.

OppFi (NYSE:OPFI) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.09. OppFi had a net margin of 1.40% and a return on equity of 35.04%. The firm had revenue of $135.72 million for the quarter, compared to the consensus estimate of $133.50 million. During the same quarter in the previous year, the firm posted $0.10 EPS. As a group, analysts forecast 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 79,762 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $9.13, for a total transaction of $728,227.06. Following the completion of the transaction, the director now directly owns 186,737 shares of the company’s stock, valued at $1,704,908.81. This trade represents a 29.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Vennettilli sold 30,762 shares of the firm’s stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 338,927 shares of company stock valued at $3,153,476 in the last ninety days. Corporate insiders own 84.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd acquired a new position in shares of OppFi in the 3rd quarter valued at about $60,000. Ancora Advisors LLC acquired a new position in shares of OppFi in the 4th quarter valued at about $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of OppFi by 8.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,801 shares of the company’s stock valued at $83,000 after buying an additional 866 shares during the period. Mariner LLC acquired a new position in shares of OppFi in the 4th quarter valued at about $93,000. Finally, MetLife Investment Management LLC acquired a new position in shares of OppFi in the 4th quarter valued at about $98,000. 7.10% of the stock is owned by institutional investors and hedge funds.

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.