OppFi (NYSE:OPFI) Shares Gap Up – Time to Buy?

OppFi Inc. (NYSE:OPFI) gapped up before the market opened on Monday . The stock had previously closed at $9.29, but opened at $10.00. OppFi shares last traded at $9.69, with a volume of 743,752 shares changing hands.

Wall Street Analyst Weigh In

Separately, Northland Securities boosted their target price on shares of OppFi from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th.

OppFi Price Performance

The company has a market cap of $915.59 million, a P/E ratio of 66.38 and a beta of 1.45. The stock has a fifty day moving average price of $7.39 and a two-hundred day moving average price of $5.43.

Insider Buying and Selling at OppFi

In related news, Director Jocelyn Moore sold 23,149 shares of OppFi stock in a transaction on Monday, November 11th. The stock was sold at an average price of $6.70, for a total transaction of $155,098.30. Following the sale, the director now directly owns 99,072 shares in the company, valued at approximately $663,782.40. This trade represents a 18.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Vennettilli sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $6.45, for a total value of $645,000.00. Following the completion of the transaction, the director now directly owns 143,825 shares in the company, valued at approximately $927,671.25. This represents a 41.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,450 shares of company stock worth $971,370. Corporate insiders own 84.00% of the company’s stock.

Institutional Investors Weigh In On OppFi

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in OppFi by 120.5% during the second quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock valued at $124,000 after buying an additional 20,048 shares during the period. Marshall Wace LLP grew its position in shares of OppFi by 24.2% during the 2nd quarter. Marshall Wace LLP now owns 171,318 shares of the company’s stock valued at $581,000 after acquiring an additional 33,347 shares during the period. Brendel Financial Advisors LLC purchased a new stake in shares of OppFi during the 3rd quarter worth approximately $105,000. Los Angeles Capital Management LLC purchased a new stake in shares of OppFi during the 3rd quarter worth approximately $355,000. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of OppFi in the 3rd quarter worth approximately $2,457,000. 7.10% of the stock is owned by hedge funds and other institutional investors.

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.