OppFi (NYSE:OPFI) Stock Price Up 11.6% – Here’s Why

by · The Cerbat Gem

OppFi Inc. (NYSE:OPFI – Get Free Report) shot up 11.6% during trading on Wednesday . The company traded as high as $8.38 and last traded at $8.06. 2,628,395 shares changed hands during trading, an increase of 64% from the average session volume of 1,607,059 shares. The stock had previously closed at $7.22.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Analysis on OPFI

OppFi Trading Up 13.2 %

The firm’s 50-day moving average price is $7.09 and its 200-day moving average price is $5.28. The stock has a market capitalization of $704.34 million, a PE ratio of 51.07 and a beta of 1.45.

Insider Buying and Selling at OppFi

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

Hedge Funds Weigh In On OppFi

Several hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of OppFi by 271.7% during the third quarter. JPMorgan Chase & Co. now owns 36,585 shares of the company’s stock valued at $173,000 after purchasing an additional 26,742 shares in the last quarter. Barclays PLC boosted its position in 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of OppFi by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 401,122 shares of the company’s stock valued at $1,897,000 after acquiring an additional 18,149 shares during the period. XTX Topco Ltd bought a new position in shares of OppFi in the 3rd quarter worth $136,000. Finally, Jane Street Group LLC lifted its stake in shares of OppFi by 28.9% during the 3rd quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock worth $122,000 after purchasing an additional 5,795 shares during the last quarter. Institutional investors own 7.10% of the company’s stock.

About OppFi

(Get Free Report)

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.

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