OppFi (NYSE:OPFI) Trading Down 6.8% on Insider Selling

OppFi Inc. (NYSE:OPFI)’s share price traded down 6.8% on Wednesday after an insider sold shares in the company. The stock traded as low as $9.80 and last traded at $10.01. 557,443 shares were traded during trading, a decline of 74% from the average session volume of 2,183,388 shares. The stock had previously closed at $10.74.

Specifically, Director Theodore G. Schwartz sold 58,764 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $9.60, for a total value of $564,134.40. Following the completion of the transaction, the director now owns 186,737 shares in the company, valued at $1,792,675.20. The trade was a 23.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Theodore G. Schwartz sold 105,606 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $9.57, for a total value of $1,010,649.42. Following the sale, the director now directly owns 186,737 shares in the company, valued at $1,787,073.09. This trade represents a 36.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

OPFI has been the topic of several research analyst reports. JMP Securities cut shares of OppFi from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Citizens Jmp downgraded shares of OppFi from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Finally, Northland Securities set a $13.00 target price on shares of OppFi in a research report on Thursday, March 6th.

OppFi Stock Performance

The stock has a market cap of $866.30 million, a PE ratio of 62.42 and a beta of 1.63. The company’s 50-day moving average price is $11.70 and its 200 day moving average price is $8.17.

OppFi (NYSE:OPFI) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.09. The firm had revenue of $135.72 million during the quarter, compared to the consensus estimate of $133.50 million. OppFi had a net margin of 1.40% and a return on equity of 35.04%. During the same quarter in the previous year, the firm posted $0.10 EPS. On average, sell-side analysts anticipate that OppFi Inc. will post 0.86 earnings per share for the current fiscal year.

OppFi Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Friday, April 18th. Investors of record on Tuesday, April 8th will be paid a dividend of $0.25 per share.

Institutional Investors Weigh In On OppFi

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its stake in shares of OppFi by 249.2% in the fourth quarter. Marshall Wace LLP now owns 617,366 shares of the company’s stock worth $4,729,000 after purchasing an additional 440,582 shares in the last quarter. Renaissance Technologies LLC increased its stake in OppFi by 52.6% in the 4th quarter. Renaissance Technologies LLC now owns 826,115 shares of the company’s stock worth $6,328,000 after buying an additional 284,900 shares in the last quarter. Tudor Investment Corp ET AL raised its holdings in OppFi by 310.7% during the fourth quarter. Tudor Investment Corp ET AL now owns 276,331 shares of the company’s stock valued at $2,117,000 after acquiring an additional 209,045 shares during the period. Bank of America Corp DE lifted its position in shares of OppFi by 1,745.7% in the fourth quarter. Bank of America Corp DE now owns 206,317 shares of the company’s stock valued at $1,580,000 after acquiring an additional 195,139 shares in the last quarter. Finally, EAM Investors LLC bought a new position in shares of OppFi in the fourth quarter worth about $1,395,000. 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.