OppFi (NYSE:OPFI) Trading Down 4.4% – Here’s What Happened

OppFi Inc. (NYSE:OPFI) fell 4.4% during mid-day trading on Monday . The company traded as low as $7.71 and last traded at $7.80. 315,465 shares were traded during mid-day trading, an increase of 6% from the average session volume of 297,734 shares. The stock had previously closed at $8.16.

Analyst Ratings Changes

Separately, Northland Securities lifted their price objective on shares of OppFi from $6.00 to $8.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

OppFi Stock Down 5.9 %

The company has a market capitalization of $662.12 million, a PE ratio of 51.50 and a beta of 1.20. The firm has a 50-day moving average of $5.71 and a two-hundred day moving average of $4.48.

Insider Activity at OppFi

In other OppFi news, Director Jocelyn Moore sold 23,149 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $6.70, for a total transaction of $155,098.30. Following the completion of the transaction, the director now directly owns 99,072 shares in the company, valued at approximately $663,782.40. This represents a 18.94 % 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 David Vennettilli sold 100,000 shares of OppFi stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $6.45, for a total transaction of $645,000.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 84.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OPFI. Segall Bryant & Hamill LLC acquired a new stake in OppFi during the third quarter worth $2,457,000. Los Angeles Capital Management LLC acquired a new stake in shares of OppFi during the third quarter valued at about $355,000. Marshall Wace LLP lifted its holdings in shares of 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 acquiring an additional 33,347 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of OppFi during the 3rd quarter worth approximately $136,000. Finally, Brendel Financial Advisors LLC acquired a new position in OppFi during the third quarter worth $105,000. 7.10% of the stock is currently owned by institutional investors and hedge funds.

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.