OppFi (NYSE:OPFI) Shares Gap Down – Time to Sell?

OppFi Inc. (NYSE:OPFI) shares gapped down prior to trading on Monday . The stock had previously closed at $13.71, but opened at $12.62. OppFi shares last traded at $13.31, with a volume of 811,257 shares traded.

Analyst Ratings Changes

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

OppFi Stock Up 9.0 %

The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 93.82 and a beta of 1.56. The firm’s 50 day moving average is $9.23 and its 200 day moving average is $6.43.

OppFi (NYSE:OPFI) last issued its earnings results 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. OppFi had a return on equity of 35.04% and a net margin of 1.40%. The business had revenue of $136.59 million for the quarter, compared to analysts’ expectations of $128.94 million. During the same period in the previous year, the firm posted $0.16 EPS. On average, sell-side analysts predict that OppFi Inc. will post 0.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David Vennettilli sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $6.45, for a total value of $645,000.00. Following the transaction, the director now owns 143,825 shares in the company, valued at $927,671.25. This represents a 41.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jocelyn Moore sold 23,149 shares of the firm’s stock in a transaction that occurred 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 owns 99,072 shares of the company’s stock, valued at approximately $663,782.40. This represents a 18.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 145,450 shares of company stock worth $971,370 over the last ninety days. 84.00% of the stock is currently owned by company insiders.

Institutional Trading of OppFi

Hedge funds and other institutional investors have recently modified their holdings of the company. Segall Bryant & Hamill LLC acquired a new position in OppFi during the third quarter worth $2,457,000. Los Angeles Capital Management LLC acquired a new position in shares of OppFi during the 3rd quarter valued at about $355,000. Marshall Wace LLP lifted its holdings in OppFi by 24.2% in the 2nd 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. XTX Topco Ltd bought a new stake in OppFi during the third quarter worth approximately $136,000. Finally, JPMorgan Chase & Co. grew its holdings in OppFi by 271.7% during the third quarter. JPMorgan Chase & Co. now owns 36,585 shares of the company’s stock valued at $173,000 after purchasing an additional 26,742 shares during the last quarter. 7.10% of the stock is currently owned by hedge funds and other institutional investors.

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.