OppFi (NYSE:OPFI) Shares Down 6.8% on Insider Selling

OppFi Inc. (NYSE:OPFI)’s share price dropped 6.8% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $9.80 and last traded at $10.01. Approximately 557,443 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 2,183,388 shares. The stock had previously closed at $10.74.

Specifically, Director Theodore G. Schwartz sold 58,764 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $9.60, for a total value of $564,134.40. Following the transaction, the director now owns 186,737 shares of the company’s stock, valued at approximately $1,792,675.20. The trade was a 23.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodore G. Schwartz sold 105,606 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $9.57, for a total transaction of $1,010,649.42. Following the transaction, the director now directly owns 186,737 shares of the company’s stock, valued at $1,787,073.09. The trade was a 36.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

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

OppFi Trading Down 6.6 %

The business’s 50 day simple moving average is $11.70 and its 200 day simple moving average is $8.17. The firm has a market capitalization of $866.30 million, a PE ratio of 62.42 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 the consensus estimate of $0.14 by $0.09. OppFi had a return on equity of 35.04% and a net margin of 1.40%. The company had revenue of $135.72 million during the quarter, compared to analyst estimates of $133.50 million. During the same quarter last year, the business posted $0.10 earnings per share. Analysts forecast that OppFi Inc. will post 0.86 earnings per share for the current year.

OppFi Announces Dividend

The business also recently declared a special dividend, which will be paid on Friday, April 18th. Investors of record on Tuesday, April 8th will be given a $0.25 dividend.

Institutional Trading of OppFi

A number of institutional investors have recently bought and sold shares of OPFI. Marshall Wace LLP increased its position in OppFi by 249.2% during the fourth quarter. Marshall Wace LLP now owns 617,366 shares of the company’s stock valued at $4,729,000 after acquiring an additional 440,582 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of OppFi by 52.6% during the 4th quarter. Renaissance Technologies LLC now owns 826,115 shares of the company’s stock worth $6,328,000 after purchasing an additional 284,900 shares during the period. Tudor Investment Corp ET AL raised its position in OppFi by 310.7% in the 4th quarter. Tudor Investment Corp ET AL now owns 276,331 shares of the company’s stock worth $2,117,000 after purchasing an additional 209,045 shares during the period. Bank of America Corp DE raised its position in OppFi by 1,745.7% in the 4th quarter. Bank of America Corp DE now owns 206,317 shares of the company’s stock worth $1,580,000 after purchasing an additional 195,139 shares during the period. Finally, EAM Investors LLC bought a new stake in OppFi in the fourth quarter worth about $1,395,000. 7.10% of the stock is currently owned by institutional investors.

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.