OppFi (NYSE:OPFI) Stock Price Up 11.6% – What’s Next?

OppFi Inc. (NYSE:OPFI)’s share price was up 11.6% during mid-day trading on Wednesday . The company traded as high as $8.38 and last traded at $8.06. Approximately 2,628,395 shares were traded during trading, an increase of 64% from the average daily volume of 1,607,059 shares. The stock had previously closed at $7.22.

Analyst Upgrades and Downgrades

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

OppFi Price Performance

The stock’s 50 day simple moving average is $7.21 and its two-hundred day simple moving average is $5.32. The company has a market capitalization of $798.34 million, a P/E ratio of 57.88 and a beta of 1.45.

Insider Buying and Selling

In related news, Director David Vennettilli sold 22,301 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $7.68, for a total transaction of $171,271.68. Following the sale, the director now owns 121,524 shares in the company, valued at approximately $933,304.32. This represents a 15.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jocelyn Moore sold 23,149 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $6.70, for a total value of $155,098.30. Following the completion of the transaction, 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. In the last quarter, insiders have sold 145,450 shares of company stock valued at $971,370. 84.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

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.