OppFi (NYSE:OPFI) Trading 11.6% Higher – Time to Buy?

OppFi Inc. (NYSE:OPFI)’s share price was up 11.6% on Wednesday . The company traded as high as $8.38 and last traded at $8.06. Approximately 2,628,395 shares traded hands 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 lifted their target price on 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 has a market capitalization of $798.34 million, a PE ratio of 57.88 and a beta of 1.45. The stock has a 50 day moving average of $7.21 and a two-hundred day moving average of $5.32.

Insiders Place Their Bets

In other OppFi news, Director David Vennettilli sold 100,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $6.45, for a total transaction of $645,000.00. Following the transaction, the director now owns 143,825 shares of the company’s stock, valued at $927,671.25. This represents a 41.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jocelyn Moore sold 23,149 shares of OppFi 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 owns 99,072 shares in the company, valued at approximately $663,782.40. This trade represents a 18.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,450 shares of company stock worth $971,370. 84.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On OppFi

A number of institutional investors have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC bought a new position in OppFi during the 3rd quarter worth approximately $2,457,000. Geode Capital Management LLC grew its position in OppFi by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 401,122 shares of the company’s stock valued at $1,897,000 after buying an additional 18,149 shares in the last quarter. Marshall Wace LLP increased its stake in shares of OppFi by 24.2% during the second quarter. Marshall Wace LLP now owns 171,318 shares of the company’s stock valued at $581,000 after acquiring an additional 33,347 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of OppFi in the 3rd quarter worth $355,000. Finally, Barclays PLC lifted its holdings in OppFi by 95.9% in the 3rd quarter. Barclays PLC now owns 42,141 shares of the company’s stock valued at $199,000 after acquiring an additional 20,630 shares during the last quarter. Institutional investors and hedge funds own 7.10% of the company’s stock.

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.