OppFi (NYSE:OPFI) Sets New 1-Year High – Time to Buy?

OppFi Inc. (NYSE:OPFI)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $12.25 and last traded at $11.92, with a volume of 2398654 shares trading hands. The stock had previously closed at $11.02.

Wall Street Analysts Forecast Growth

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

OppFi Stock Up 8.2 %

The stock has a 50-day simple moving average of $8.00 and a 200 day simple moving average of $5.76. The company has a market cap of $1.03 billion, a PE ratio of 74.52 and a beta of 1.45.

OppFi (NYSE:OPFI) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.12. The firm had revenue of $136.59 million for the quarter, compared to analyst estimates of $128.94 million. OppFi had a net margin of 1.40% and a return on equity of 35.04%. During the same period in the previous year, the firm earned $0.16 EPS. As a group, research analysts anticipate that OppFi Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Transactions at OppFi

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

Institutional Investors Weigh In On OppFi

Several large investors have recently added to or reduced their stakes in OPFI. Quadrature Capital Ltd acquired a new position in shares of OppFi in the third quarter worth $60,000. Brendel Financial Advisors LLC acquired a new position in OppFi during the 3rd quarter worth $105,000. Jane Street Group LLC grew its stake in OppFi by 28.9% during the 3rd 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 increased its holdings in OppFi by 120.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock worth $124,000 after purchasing an additional 20,048 shares during the period. Finally, XTX Topco Ltd acquired a new stake in OppFi in the 3rd quarter valued at about $136,000. 7.10% of the stock is owned by hedge funds and other institutional investors.

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.