OppFi (NYSE:OPFI) Trading Down 5.8% – Here’s Why

OppFi Inc. (NYSE:OPFI) dropped 5.8% during mid-day trading on Monday . The company traded as low as $8.01 and last traded at $8.08. Approximately 276,522 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 905,131 shares. The stock had previously closed at $8.58.

Analyst Upgrades and Downgrades

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

OppFi Stock Performance

The firm has a market capitalization of $634.54 million, a price-to-earnings ratio of 46.00 and a beta of 1.45. The business has a 50 day moving average of $7.01 and a two-hundred day moving average of $5.22.

Insiders Place Their Bets

In related news, Director David Vennettilli sold 22,301 shares of OppFi stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $7.68, for a total transaction of $171,271.68. Following the completion of the sale, the director now owns 121,524 shares of the company’s stock, valued at approximately $933,304.32. This trade represents a 15.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jocelyn Moore sold 23,149 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $6.70, for a total value of $155,098.30. Following the transaction, the director now owns 99,072 shares in the company, valued at $663,782.40. This trade represents a 18.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 145,450 shares of company stock valued at $971,370 in the last 90 days. 84.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Segall Bryant & Hamill LLC purchased a new stake in OppFi during the 3rd quarter valued at about $2,457,000. Geode Capital Management LLC boosted its holdings in shares of OppFi by 4.7% in the third quarter. Geode Capital Management LLC now owns 401,122 shares of the company’s stock worth $1,897,000 after buying an additional 18,149 shares during the last quarter. Marshall Wace LLP increased its holdings in OppFi by 24.2% during the second quarter. Marshall Wace LLP now owns 171,318 shares of the company’s stock valued at $581,000 after buying an additional 33,347 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in OppFi in the third quarter worth approximately $355,000. Finally, Barclays PLC increased its stake in shares of OppFi by 95.9% in the 3rd quarter. Barclays PLC now owns 42,141 shares of the company’s stock worth $199,000 after purchasing an additional 20,630 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.