OppFi (NYSE:OPFI) Stock Price Down 6.8% After Insider Selling

OppFi Inc. (NYSE:OPFI)’s stock price fell 6.8% during trading on Wednesday after an insider sold shares in the company. The company 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 165,174 shares of OppFi stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $10.58, for a total value of $1,747,540.92. Following the transaction, the director now directly owns 186,737 shares of the company’s stock, valued at $1,975,677.46. This trade represents a 46.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Theodore G. Schwartz sold 58,764 shares of the company’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 sale, the director now owns 186,737 shares of the company’s stock, valued at $1,792,675.20. The trade was a 23.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Theodore G. Schwartz sold 105,606 shares of OppFi stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $9.57, for a total value of $1,010,649.42. Following the transaction, the director now owns 186,737 shares in the company, valued at approximately $1,787,073.09. This trade represents a 36.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

OPFI has been the topic of several research analyst reports. JMP Securities lowered 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 note on Wednesday, February 12th. Finally, Northland Securities set a $13.00 price target on shares of OppFi in a report on Thursday, March 6th.

OppFi Trading Down 7.1 %

The company has a market capitalization of $861.89 million, a P/E ratio of 62.35 and a beta of 1.63. The stock has a 50 day moving average price of $11.66 and a 200 day moving average price of $8.19.

OppFi (NYSE:OPFI) last posted its earnings results on Wednesday, March 5th. The company reported $0.23 EPS for the quarter, beating the consensus estimate 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 return on equity of 35.04% and a net margin of 1.40%. During the same period last year, the company earned $0.10 earnings per share. On average, research analysts predict that OppFi Inc. will post 0.86 EPS for the current year.

OppFi Announces Dividend

The firm also recently announced a special dividend, which will be paid on Friday, April 18th. Shareholders of record on Tuesday, April 8th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 8th.

Hedge Funds Weigh In On OppFi

Several institutional investors and hedge funds have recently added to or reduced their stakes in OPFI. Quadrature Capital Ltd bought a new stake in shares of OppFi in the third quarter worth $60,000. Ancora Advisors LLC bought a new stake in shares of OppFi in the 4th quarter valued at about $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of OppFi by 8.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,801 shares of the company’s stock valued at $83,000 after buying an additional 866 shares during the last quarter. Mariner LLC acquired a new stake in shares of OppFi in the fourth quarter valued at about $93,000. Finally, MetLife Investment Management LLC bought a new position in shares of OppFi during the fourth quarter worth about $98,000. 7.10% of the stock is currently owned by institutional investors and hedge funds.

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.