OppFi (NYSE:OPFI) Stock Rating Upgraded by Zacks Research

OppFi (NYSE:OPFI) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

OPFI has been the topic of several other research reports. Weiss Ratings raised OppFi from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Stephens upped their price target on OppFi from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Wall Street Zen lowered shares of OppFi from a “strong-buy” rating to a “buy” rating in a report on Saturday. Citizens Jmp reduced their price objective on shares of OppFi from $16.00 to $15.00 and set a “market outperform” rating on the stock in a research report on Friday, April 17th. Finally, Citigroup reissued a “market outperform” rating on shares of OppFi in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

OppFi Stock Performance

Shares of OppFi stock opened at $9.93 on Monday. The company has a market capitalization of $848.26 million, a P/E ratio of 10.68 and a beta of 1.79. The company has a fifty day moving average of $8.72 and a 200 day moving average of $9.11. OppFi has a fifty-two week low of $7.36 and a fifty-two week high of $14.97.

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

Insiders Place Their Bets

In related news, Director Christina M. Favilla sold 30,000 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $8.14, for a total value of $244,200.00. Following the sale, the director owned 156,737 shares in the company, valued at approximately $1,275,839.18. The trade was a 16.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Vennettilli sold 10,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following 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 SEC filing for this sale provides additional information. Company insiders own 70.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OPFI. Lazard Asset Management LLC bought a new stake in OppFi during the first quarter worth approximately $91,000. Corsair Capital Management L.P. bought a new stake in shares of OppFi in the 1st quarter valued at approximately $229,000. Renaissance Technologies LLC lifted its stake in shares of OppFi by 2.3% in the 1st quarter. Renaissance Technologies LLC now owns 630,308 shares of the company’s stock valued at $4,860,000 after purchasing an additional 14,100 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of OppFi by 208.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 211,667 shares of the company’s stock valued at $1,632,000 after purchasing an additional 142,971 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in shares of OppFi in the 1st quarter worth approximately $123,000. Hedge funds and other institutional investors own 7.10% of the company’s stock.

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.