OppFi (NYSE:OPFI) Sees Strong Trading Volume – Here’s Why

OppFi Inc. (NYSE:OPFI) saw an uptick in trading volume on Thursday . 365,787 shares were traded during trading, an increase of 16% from the previous session’s volume of 315,897 shares.The stock last traded at $8.38 and had previously closed at $7.66.

Analysts Set New Price Targets

Separately, Northland Securities increased their price objective on OppFi from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, December 13th.

OppFi Price Performance

The stock’s 50 day moving average is $7.01 and its two-hundred day moving average is $5.20. The stock has a market capitalization of $739.72 million, a PE ratio of 53.63 and a beta of 1.45.

Insider Buying and Selling at OppFi

In other 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 completion of the transaction, the director now directly owns 121,524 shares of the company’s stock, valued at approximately $933,304.32. This represents a 15.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jocelyn Moore sold 23,149 shares of the stock in a transaction dated 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 in the company, valued at approximately $663,782.40. The trade was a 18.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,450 shares of company stock valued at $971,370. Insiders own 84.00% of the company’s stock.

Institutional Trading of OppFi

Several institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd acquired a new stake in OppFi during the 3rd quarter worth $60,000. Brendel Financial Advisors LLC purchased a new position in shares of OppFi during the third quarter worth about $105,000. Jane Street Group LLC increased its position in shares of OppFi by 28.9% during the third quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock worth $122,000 after purchasing an additional 5,795 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of OppFi by 120.5% in the 2nd 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. Finally, XTX Topco Ltd acquired a new stake in shares of OppFi in the 3rd quarter valued at about $136,000. Hedge funds and other institutional investors 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.