OppFi (NYSE:OPFI) Posts Earnings Results, Beats Estimates By $0.03 EPS

OppFi (NYSE:OPFI) announced its earnings results on Tuesday. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03, FiscalAI reports. The firm had revenue of $92.75 million during the quarter, compared to the consensus estimate of $152.79 million.

OppFi Trading Up 5.5%

Shares of NYSE OPFI traded up $0.30 during midday trading on Wednesday, reaching $5.75. 448,473 shares of the stock were exchanged, compared to its average volume of 678,360. The company has a market capitalization of $489.95 million, a P/E ratio of 3.03 and a beta of 1.78. The stock has a 50 day moving average price of $6.52 and a 200-day moving average price of $8.30. OppFi has a 52-week low of $5.36 and a 52-week high of $11.69.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OPFI. Zacks Research raised OppFi from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. UBS Group set a $11.00 target price on OppFi in a research report on Wednesday, August 26th. Citigroup reiterated a “market outperform” rating on shares of OppFi in a report on Thursday, October 15th. Stephens cut their price objective on OppFi from $11.00 to $9.50 and set an “equal weight” rating on the stock in a report on Tuesday, August 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of OppFi in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.50.

Insider Activity

In related news, CEO Todd Schwartz bought 3,300 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were acquired at an average cost of $7.96 per share, with a total value of $26,268.00. Following the completion of the transaction, the chief executive officer owned 639,958 shares of the company’s stock, valued at approximately $5,094,065.68. The trade was a 0.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Pamela Johnson sold 8,650 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $8.02, for a total value of $69,373.00. Following the completion of the transaction, the chief financial officer owned 151,039 shares in the company, valued at approximately $1,211,332.78. This trade represents a 5.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders acquired 130,640 shares of company stock valued at $936,475 and sold 114,985 shares valued at $832,289. Company insiders own 70.20% of the company’s stock.

About OppFi

OppFi Inc is a financial technology company that provides access to credit for consumers who may have limited or impaired credit histories. Through its digital platform, the company offers personal installment loans and related financial products designed to provide borrowers with a structured repayment schedule and access to funds for everyday financial needs.

OppFi’s primary brand, OppLoans, uses technology and data-driven underwriting to deliver financial services online. The company has also offered products such as the OppFi Card and other credit-building or cash-flow management solutions, subject to availability and applicable regulatory requirements.