OppFi (NYSE:OPFI) Reaches New 52-Week High – Should You Buy?

OppFi Inc. (NYSE:OPFI) reached a new 52-week high during trading on Wednesday . The stock traded as high as $12.25 and last traded at $11.92, with a volume of 2398654 shares changing hands. The stock had previously closed at $11.02.

Analyst Ratings Changes

Separately, Northland Securities increased 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 Trading Up 1.6 %

The firm has a market cap of $1.04 billion, a P/E ratio of 75.22 and a beta of 1.45. The business’s fifty day simple moving average is $8.21 and its 200-day simple moving average is $5.85.

OppFi (NYSE:OPFI) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.12. The business had revenue of $136.59 million for the quarter, compared to analysts’ expectations of $128.94 million. OppFi had a return on equity of 35.04% and a net margin of 1.40%. During the same quarter in the prior year, the firm posted $0.16 EPS. As a group, research analysts expect that OppFi Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity at OppFi

In other news, Director Jocelyn Moore sold 23,149 shares of OppFi stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $6.70, for a total transaction of $155,098.30. Following the completion of the sale, the director now owns 99,072 shares in the company, valued at approximately $663,782.40. This trade represents a 18.94 % decrease in their position. 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 company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $6.45, for a total transaction of $645,000.00. Following the completion of the transaction, the director now owns 143,825 shares in the company, valued at approximately $927,671.25. This trade represents a 41.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,450 shares of company stock valued at $971,370. Corporate insiders own 84.00% of the company’s stock.

Hedge Funds Weigh In On OppFi

A number of hedge funds and other institutional investors have recently bought and sold shares of OPFI. Bank of New York Mellon Corp grew its position in OppFi by 120.5% in the second quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock worth $124,000 after acquiring an additional 20,048 shares in the last quarter. Marshall Wace LLP lifted its stake in OppFi by 24.2% during the second quarter. Marshall Wace LLP now owns 171,318 shares of the company’s stock worth $581,000 after purchasing an additional 33,347 shares during the last quarter. Brendel Financial Advisors LLC purchased a new position in shares of OppFi in the 3rd quarter worth about $105,000. Los Angeles Capital Management LLC bought a new position in shares of OppFi during the 3rd quarter valued at about $355,000. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of OppFi during the 3rd quarter valued at about $2,457,000. Hedge funds and other institutional investors own 7.10% of the company’s stock.

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.