OppFi (NYSE:OPFI) Stock Rating Upgraded by Wall Street Zen

OppFi (NYSE:OPFI) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

OPFI has been the topic of several other research reports. Citizens Jmp lowered their price objective on shares of OppFi from $16.00 to $15.00 and set a “market outperform” rating on the stock in a research note on Friday, April 17th. Stephens upped their target price on shares of OppFi from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings raised shares of OppFi from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Zacks Research upgraded shares of OppFi from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Finally, Citigroup restated a “market outperform” rating on shares of OppFi in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

OppFi Stock Performance

NYSE OPFI opened at $9.02 on Friday. The stock has a 50-day simple moving average of $8.84 and a 200 day simple moving average of $8.93. OppFi has a twelve month low of $7.36 and a twelve month high of $12.60. The stock has a market capitalization of $769.79 million, a PE ratio of 9.69 and a beta of 1.76.

OppFi (NYSE:OPFI) last released its earnings results on Thursday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $87.30 million for the quarter, compared to analyst estimates of $151.14 million. OppFi had a return on equity of 39.90% and a net margin of 10.86%. As a group, equities research analysts forecast that OppFi will post 1.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David Vennettilli sold 10,000 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $10.00, for a total value of $100,000.00. Following the completion of the transaction, the director directly owned 132,389 shares in the company, valued at approximately $1,323,890. This represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christina M. Favilla sold 30,000 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $8.14, for a total value of $244,200.00. Following the completion of the transaction, the director owned 156,737 shares of the company’s stock, valued at $1,275,839.18. The trade was a 16.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 70.20% of the company’s stock.

Hedge Funds Weigh In On OppFi

A number of hedge funds have recently made changes to their positions in OPFI. Lazard Asset Management LLC bought a new position in shares of OppFi during the 1st quarter worth about $91,000. Corsair Capital Management L.P. bought a new stake in OppFi in the first quarter valued at about $229,000. Renaissance Technologies LLC increased its stake in OppFi by 2.3% in the first quarter. Renaissance Technologies LLC now owns 630,308 shares of the company’s stock valued at $4,860,000 after acquiring an additional 14,100 shares during the period. Arrowstreet Capital Limited Partnership raised its position in OppFi by 208.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 211,667 shares of the company’s stock worth $1,632,000 after purchasing an additional 142,971 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in OppFi in the first quarter worth about $123,000. Institutional investors and hedge funds own 7.10% of the company’s stock.

OppFi Company Profile

OppFi (NYSE: OPFI) is a financial technology company that provides digital lending and credit solutions designed to meet the needs of near-prime consumers in the United States. Through its technology-driven platform, OppFi offers unsecured installment loans under the OppLoans brand, allowing borrowers to access credit online or via mobile devices. The company leverages proprietary data analytics and machine learning models to assess credit risk, streamline underwriting processes and deliver personalized loan products with transparent terms.

Headquartered in Chicago, Illinois, OppFi was founded in 2013 with a mission to increase financial inclusion for underserved and underbanked populations.