OppFi (NYSE:OPFI) Shares Gap Up – Should You Buy?

OppFi Inc. (NYSE:OPFI)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $9.97, but opened at $10.38. OppFi shares last traded at $10.36, with a volume of 261,413 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OPFI. Stephens began coverage on shares of OppFi in a research report on Thursday, June 12th. They issued an “equal weight” rating and a $14.50 target price on the stock. Citizens Jmp raised shares of OppFi from a “market perform” rating to an “outperform” rating and set a $13.50 price target for the company in a research report on Thursday, May 8th. JMP Securities raised shares of OppFi from a “market perform” rating to a “market outperform” rating and set a $13.50 price objective on the stock in a research report on Thursday, May 8th. Finally, Zacks Research raised shares of OppFi to a “strong-buy” rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $13.63.

OppFi Stock Up 5.3%

The company has a market capitalization of $916.28 million, a P/E ratio of -8.02 and a beta of 1.71. The company’s 50-day simple moving average is $11.84 and its 200 day simple moving average is $11.10.

OppFi (NYSE:OPFI) last posted its earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.30 by $0.15. The company had revenue of $142.44 million during the quarter, compared to the consensus estimate of $141.19 million. OppFi had a negative net margin of 6.04% and a positive return on equity of 53.83%. As a group, equities research analysts forecast that OppFi Inc. will post 0.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Christopher J. Mckay sold 9,030 shares of OppFi stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $13.41, for a total value of $121,092.30. Following the transaction, the insider owned 185,366 shares of the company’s stock, valued at $2,485,758.06. This trade represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Theodore G. Schwartz sold 102,325 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $10.80, for a total transaction of $1,105,110.00. Following the completion of the sale, the director owned 199,644 shares of the company’s stock, valued at $2,156,155.20. The trade was a 33.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,055,699 shares of company stock valued at $12,935,298 over the last ninety days. Corporate insiders own 72.00% of the company’s stock.

Institutional Trading of OppFi

A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in OppFi by 25.7% in the 2nd quarter. Geode Capital Management LLC now owns 536,668 shares of the company’s stock valued at $7,509,000 after purchasing an additional 109,771 shares during the period. Two Sigma Investments LP grew its holdings in shares of OppFi by 19.8% in the 4th quarter. Two Sigma Investments LP now owns 447,260 shares of the company’s stock worth $3,426,000 after purchasing an additional 73,905 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of OppFi by 27.9% in the 4th quarter. Two Sigma Advisers LP now owns 429,100 shares of the company’s stock worth $3,287,000 after purchasing an additional 93,700 shares during the last quarter. Trexquant Investment LP grew its holdings in shares of OppFi by 232.4% in the 1st quarter. Trexquant Investment LP now owns 392,333 shares of the company’s stock worth $3,649,000 after purchasing an additional 274,318 shares during the last quarter. Finally, Globeflex Capital L P raised its holdings in shares of OppFi by 78.1% in the second quarter. Globeflex Capital L P now owns 334,441 shares of the company’s stock valued at $4,679,000 after buying an additional 146,645 shares during the last quarter. 7.10% of the stock is owned by institutional investors.

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.