OppFi (NYSE:OPFI) Hits New 1-Year High – Here’s Why

Shares of OppFi Inc. (NYSE:OPFI) reached a new 52-week high on Monday . The company traded as high as $8.00 and last traded at $8.00, with a volume of 7775 shares. The stock had previously closed at $7.61.

Wall Street Analysts Forecast Growth

Separately, Northland Securities increased their price target on shares of OppFi from $6.00 to $8.00 and gave the company an “outperform” rating in a report on Friday, November 8th.

OppFi Stock Performance

The business’s fifty day moving average is $5.35 and its 200-day moving average is $4.30. The firm has a market cap of $658.64 million, a P/E ratio of 47.57 and a beta of 1.20.

Insiders Place Their Bets

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

Institutional Trading of OppFi

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in OppFi by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 823,916 shares of the company’s stock valued at $2,060,000 after acquiring an additional 5,218 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of OppFi in the first quarter valued at approximately $51,000. Bank of New York Mellon Corp boosted its position in shares of OppFi by 120.5% during the second quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock valued at $124,000 after buying an additional 20,048 shares during the last quarter. LB Partners LLC grew its holdings in OppFi by 1.3% during the second quarter. LB Partners LLC now owns 920,970 shares of the company’s stock worth $3,122,000 after buying an additional 11,948 shares in the last quarter. Finally, Marshall Wace LLP raised its position 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 during the last quarter. 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.