Northland Securities Issues Positive Forecast for OppFi (NYSE:OPFI) Stock Price

OppFi (NYSE:OPFI) had its price objective increased by equities researchers at Northland Securities from $6.00 to $8.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price objective would suggest a potential upside of 25.20% from the stock’s previous close.

OppFi Stock Down 3.5 %

OppFi stock traded down $0.23 during mid-day trading on Friday, hitting $6.39. 395,220 shares of the company’s stock were exchanged, compared to its average volume of 276,967. The company’s 50 day simple moving average is $4.78 and its 200-day simple moving average is $3.97. OppFi has a fifty-two week low of $2.30 and a fifty-two week high of $6.87. The firm has a market capitalization of $551.16 million, a P/E ratio of 80.38 and a beta of 1.20.

OppFi (NYSE:OPFI) last issued its earnings results on Wednesday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.12. The business had revenue of $126.30 million during the quarter, compared to the consensus estimate of $121.14 million. OppFi had a net margin of 1.00% and a return on equity of 28.73%. During the same period last year, the business posted $0.19 EPS. Research analysts expect that OppFi will post 0.74 EPS for the current year.

Hedge Funds Weigh In On OppFi

A number of institutional investors have recently modified their holdings of OPFI. Vanguard Group Inc. grew its stake in OppFi by 0.6% during the first 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 purchased a new position in shares of OppFi in the 1st quarter valued at approximately $51,000. Brendel Financial Advisors LLC bought a new stake in OppFi during the third quarter worth about $105,000. Bank of New York Mellon Corp increased its position 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 valued at $124,000 after buying an additional 20,048 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in OppFi by 24.2% in the second quarter. Marshall Wace LLP now owns 171,318 shares of the company’s stock worth $581,000 after buying an additional 33,347 shares during the last quarter. 7.10% of the stock is owned by institutional investors and hedge funds.

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.