OppFi (NYSE:OPFI) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of OppFi (NYSE:OPFI) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

A number of other research analysts also recently weighed in on OPFI. Citizens Jmp cut their price objective on OppFi from $16.00 to $15.00 and set a “market outperform” rating on the stock in a research note on Friday, April 17th. Citigroup reaffirmed a “market outperform” rating on shares of OppFi in a research report on Friday, June 26th. Weiss Ratings upgraded OppFi from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Stephens boosted their price objective on shares of OppFi from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, Wall Street Zen raised shares of OppFi from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.00.

OppFi Trading Down 1.8%

NYSE:OPFI opened at $9.48 on Tuesday. The firm has a market capitalization of $809.33 million, a price-to-earnings ratio of 10.19 and a beta of 1.76. OppFi has a 1-year low of $7.36 and a 1-year high of $12.60. The business’s fifty day moving average price is $8.90 and its 200 day moving average price is $8.91.

OppFi (NYSE:OPFI) last issued its earnings results on Thursday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $87.30 million during the quarter, compared to analyst estimates of $151.14 million. OppFi had a net margin of 10.86% and a return on equity of 39.90%. Equities analysts forecast that OppFi will post 1.8 earnings per share for the current year.

Insider Buying and Selling at OppFi

In other OppFi news, Director Christina M. Favilla sold 30,000 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $8.14, for a total transaction of $244,200.00. Following the completion of the transaction, the director directly owned 156,737 shares in the company, valued at $1,275,839.18. This represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Vennettilli sold 10,000 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of the sale, the director directly owned 132,389 shares in the company, valued at approximately $1,323,890. The trade was a 7.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 70.20% of the company’s stock.

Institutional Trading of OppFi

Large investors have recently added to or reduced their stakes in the company. Quarry LP raised its stake in shares of OppFi by 669.2% in the third quarter. Quarry LP now owns 3,492 shares of the company’s stock valued at $40,000 after acquiring an additional 3,038 shares during the last quarter. Russell Investments Group Ltd. raised its position in OppFi by 217.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,681 shares of the company’s stock valued at $65,000 after purchasing an additional 3,207 shares during the last quarter. Quantbot Technologies LP raised its position in OppFi by 20.8% in the 2nd quarter. Quantbot Technologies LP now owns 8,663 shares of the company’s stock valued at $121,000 after purchasing an additional 1,494 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in OppFi in the fourth quarter worth $95,000. Finally, Jain Global LLC bought a new stake in shares of OppFi during the fourth quarter worth $112,000. 7.10% of the stock is owned by institutional investors.

About OppFi

OppFi (NYSE: OPFI) is a financial technology company that provides digital lending and credit solutions designed to meet the needs of near-prime consumers in the United States. Through its technology-driven platform, OppFi offers unsecured installment loans under the OppLoans brand, allowing borrowers to access credit online or via mobile devices. The company leverages proprietary data analytics and machine learning models to assess credit risk, streamline underwriting processes and deliver personalized loan products with transparent terms.

Headquartered in Chicago, Illinois, OppFi was founded in 2013 with a mission to increase financial inclusion for underserved and underbanked populations.