OppFi (NYSE:OPFI) Shares Gap Up – What’s Next?

Shares of OppFi Inc. (NYSE:OPFI) gapped up before the market opened on Monday . The stock had previously closed at $9.29, but opened at $10.00. OppFi shares last traded at $9.69, with a volume of 743,752 shares.

Analyst Upgrades and Downgrades

Separately, Northland Securities boosted their price objective on OppFi from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, December 13th.

OppFi Stock Performance

The company has a market capitalization of $915.59 million, a PE ratio of 66.38 and a beta of 1.45. The stock’s 50 day moving average is $7.39 and its 200 day moving average is $5.43.

Insider Transactions at OppFi

In other news, Director David Vennettilli sold 22,301 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $7.68, for a total value of $171,271.68. Following the sale, the director now directly owns 121,524 shares of the company’s stock, valued at approximately $933,304.32. This represents a 15.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jocelyn Moore sold 23,149 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $6.70, for a total transaction of $155,098.30. Following the transaction, the director now directly owns 99,072 shares of the company’s stock, valued at approximately $663,782.40. This represents a 18.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 145,450 shares of company stock valued at $971,370 over the last three months. Company insiders own 84.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC bought a new stake in OppFi during the third quarter valued at $2,457,000. Barclays PLC boosted its position in shares of OppFi by 95.9% during the 3rd quarter. Barclays PLC now owns 42,141 shares of the company’s stock valued at $199,000 after acquiring an additional 20,630 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of OppFi by 4.7% during the third 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. Brendel Financial Advisors LLC bought a new position in shares of OppFi in the third quarter worth approximately $105,000. Finally, Bank of New York Mellon Corp raised its stake in OppFi by 120.5% in the second quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock valued at $124,000 after purchasing an additional 20,048 shares in the last quarter. Institutional investors own 7.10% of the company’s stock.

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.