OppFi (NYSE:OPFI) Trading Up 8.1% – Still a Buy?

OppFi Inc. (NYSE:OPFI) rose 8.1% on Tuesday . The stock traded as high as $8.46 and last traded at $8.4750. Approximately 147,884 shares changed hands during trading, a decline of 73% from the average daily volume of 541,299 shares. The stock had previously closed at $7.84.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OPFI shares. Citizens Jmp lowered their target price on OppFi from $16.00 to $15.00 and set a “market outperform” rating on the stock in a research note on Friday, April 17th. Wall Street Zen upgraded OppFi from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Stephens boosted their price objective on OppFi from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded OppFi from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.00.

OppFi Stock Performance

The stock has a market capitalization of $708.22 million, a P/E ratio of 8.92 and a beta of 1.79. The firm has a 50-day moving average price of $8.53 and a 200 day moving average price of $9.23.

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

Insiders Place Their Bets

In related news, Director Christina M. Favilla sold 30,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $8.14, for a total transaction of $244,200.00. Following the transaction, the director owned 156,737 shares of the company’s stock, valued at approximately $1,275,839.18. This trade represents a 16.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Vennettilli sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 132,389 shares in the company, valued at $1,323,890. The trade was a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 70.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OppFi

Several hedge funds have recently bought and sold shares of OPFI. Lazard Asset Management LLC purchased a new position in shares of OppFi during the first quarter valued at approximately $91,000. Corsair Capital Management L.P. purchased a new position in OppFi in the 1st quarter worth approximately $229,000. Renaissance Technologies LLC lifted its position in OppFi by 2.3% in the 1st 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of OppFi by 208.1% in the 1st 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. purchased a new position in shares of OppFi in the first quarter worth $123,000. Institutional investors own 7.10% of the company’s stock.

About OppFi

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.