Elgethun Capital Management Sells 207,969 Shares of OppFi Inc. (NYSE:OPFI)

Elgethun Capital Management lessened its stake in shares of OppFi Inc. (NYSE:OPFI) by 28.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 525,378 shares of the company’s stock after selling 207,969 shares during the period. OppFi accounts for about 1.0% of Elgethun Capital Management’s portfolio, making the stock its 28th biggest position. Elgethun Capital Management owned about 0.61% of OppFi worth $4,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in OPFI. Wells Fargo & Company MN lifted 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 valued at $323,000 after purchasing an additional 35,921 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of OppFi during the fourth quarter worth $904,000. Geode Capital Management LLC lifted its stake in shares of OppFi by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 412,361 shares of the company’s stock valued at $3,160,000 after acquiring an additional 11,239 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in OppFi by 153.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 90,865 shares of the company’s stock worth $696,000 after acquiring an additional 55,056 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 99,723 shares in the last quarter. 7.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Theodore G. Schwartz sold 165,174 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $10.58, for a total transaction of $1,747,540.92. Following the transaction, the director now directly owns 186,737 shares in the company, valued at approximately $1,975,677.46. The trade was a 46.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Vennettilli sold 30,762 shares of OppFi 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 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 687,653 shares of company stock valued at $6,626,927. Corporate insiders own 84.00% of the company’s stock.

OppFi Price Performance

NYSE OPFI opened at $8.30 on Monday. The stock has a market capitalization of $716.73 million, a P/E ratio of 51.85 and a beta of 1.61. The business has a 50 day simple moving average of $11.32 and a 200 day simple moving average of $8.46. OppFi Inc. has a one year low of $2.40 and a one year high of $17.73.

OppFi (NYSE:OPFI) last posted 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. The business had revenue of $135.72 million during the quarter, compared to analysts’ expectations of $133.50 million. OppFi had a net margin of 1.40% and a return on equity of 35.04%. During the same period last year, the company posted $0.10 earnings per share. Equities analysts expect that OppFi Inc. will post 0.86 earnings per share for the current year.

OppFi Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.