OppFi (NYSE:OPFI) Shares Gap Up – Still a Buy?

OppFi Inc. (NYSE:OPFI) gapped up prior to trading on Monday . The stock had previously closed at $9.76, but opened at $10.30. OppFi shares last traded at $10.09, with a volume of 224,742 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on OPFI shares. JMP Securities downgraded shares of OppFi from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Northland Securities set a $13.00 price objective on OppFi in a research report on Thursday, March 6th. Finally, Citizens Jmp lowered OppFi from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th.

OppFi Trading Down 1.7 %

The company has a market cap of $927.99 million, a price-to-earnings ratio of 67.13 and a beta of 1.63. The company’s 50 day moving average price is $11.70 and its 200 day moving average price is $8.17.

OppFi (NYSE:OPFI) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.09. OppFi had a net margin of 1.40% and a return on equity of 35.04%. The firm had revenue of $135.72 million during the quarter, compared to the consensus estimate of $133.50 million. During the same quarter last year, the firm earned $0.10 earnings per share. Sell-side analysts predict that OppFi Inc. will post 0.86 earnings per share for the current year.

OppFi Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Friday, April 18th. Shareholders of record on Tuesday, April 8th will be given a $0.25 dividend.

Insider Buying and Selling at OppFi

In other OppFi news, Director Theodore G. Schwartz sold 58,764 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $9.60, for a total value of $564,134.40. Following the completion of the transaction, the director now directly owns 186,737 shares of the company’s stock, valued at approximately $1,792,675.20. This trade represents a 23.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David Vennettilli sold 43,238 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $9.45, for a total value of $408,599.10. Following the sale, the director now directly owns 90,762 shares in the company, valued at $857,700.90. This trade represents a 32.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 397,691 shares of company stock valued at $3,717,610. 84.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in OppFi by 271.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 36,585 shares of the company’s stock valued at $173,000 after acquiring an additional 26,742 shares during the last quarter. Barclays PLC lifted its holdings in shares of OppFi by 95.9% in the third quarter. Barclays PLC now owns 42,141 shares of the company’s stock valued at $199,000 after purchasing an additional 20,630 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of OppFi in the fourth quarter valued at approximately $195,000. Geode Capital Management LLC increased its stake in shares of OppFi by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 401,122 shares of the company’s stock worth $1,897,000 after purchasing an additional 18,149 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of 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 during the last quarter. 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.