OppFi Inc. (NYSE:OPFI) Sees Significant Decrease in Short Interest

OppFi Inc. (NYSE:OPFI) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 5,530,000 shares, a decline of 13.5% from the February 13th total of 6,390,000 shares. Based on an average daily trading volume, of 1,870,000 shares, the short-interest ratio is presently 3.0 days. Approximately 28.2% of the shares of the stock are sold short.

Analyst Ratings Changes

Several brokerages recently issued reports on OPFI. Northland Securities set a $13.00 price objective on OppFi in a research note on Thursday, March 6th. JMP Securities downgraded OppFi from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Finally, Citizens Jmp downgraded shares of OppFi from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th.

OppFi Trading Up 4.5 %

NYSE:OPFI traded up $0.41 during trading hours on Wednesday, hitting $9.55. 599,863 shares of the company traded hands, compared to its average volume of 713,123. The firm has a 50-day moving average of $11.60 and a 200 day moving average of $7.97. OppFi has a twelve month low of $2.35 and a twelve month high of $17.73. The stock has a market capitalization of $823.34 million, a price-to-earnings ratio of 59.63 and a beta of 1.63.

OppFi (NYSE:OPFI) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.09. The business had revenue of $135.72 million for the quarter, compared to analysts’ expectations of $133.50 million. OppFi had a return on equity of 35.04% and a net margin of 1.40%. During the same period in the previous year, the business posted $0.10 earnings per share. Equities research analysts predict that OppFi will post 0.86 earnings per share for the current fiscal year.

Insider Transactions at OppFi

In related news, Director David Vennettilli sold 30,762 shares of OppFi stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $9.09, for a total value of $279,626.58. Following the transaction, the director now owns 90,762 shares of the company’s stock, valued at approximately $825,026.58. This trade represents a 25.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Theodore G. Schwartz sold 79,762 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $9.13, for a total transaction of $728,227.06. Following the completion of the transaction, the director now directly owns 186,737 shares of the company’s stock, valued at $1,704,908.81. This represents a 29.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 233,321 shares of company stock valued at $2,142,826. Corporate insiders own 84.00% of the company’s stock.

Institutional Trading of OppFi

Several institutional investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC bought a new stake in OppFi during the 3rd quarter worth approximately $2,457,000. Quadrature Capital Ltd acquired a new stake in shares of OppFi during the third quarter worth $60,000. Jane Street Group LLC raised its position in shares of OppFi by 28.9% in the 3rd quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock valued at $122,000 after acquiring an additional 5,795 shares during the period. XTX Topco Ltd bought a new position in OppFi during the 3rd quarter worth approximately $136,000. Finally, Barclays PLC grew its holdings in OppFi by 95.9% during the third quarter. Barclays PLC now owns 42,141 shares of the company’s stock valued at $199,000 after purchasing an additional 20,630 shares during the period. Institutional investors and hedge funds 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.