OppFi (NYSE:OPFI) Sees Unusually-High Trading Volume – Still a Buy?

OppFi Inc. (NYSE:OPFI) shares saw unusually-strong trading volume on Thursday . Approximately 365,787 shares were traded during trading, an increase of 16% from the previous session’s volume of 315,897 shares.The stock last traded at $8.38 and had previously closed at $7.66.

Wall Street Analyst Weigh In

Separately, Northland Securities lifted their price target on OppFi from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th.

OppFi Stock Up 6.2 %

The firm has a market capitalization of $739.72 million, a price-to-earnings ratio of 53.63 and a beta of 1.45. The stock’s 50-day moving average price is $7.01 and its 200 day moving average price is $5.20.

Insider Transactions at OppFi

In other news, Director David Vennettilli sold 100,000 shares of OppFi stock in a transaction on Friday, November 8th. The stock was sold at an average price of $6.45, for a total transaction of $645,000.00. Following the transaction, the director now owns 143,825 shares in the company, valued at $927,671.25. The trade was a 41.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jocelyn Moore sold 23,149 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $6.70, for a total transaction of $155,098.30. Following the sale, the director now owns 99,072 shares of the company’s stock, valued at approximately $663,782.40. The trade was 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 worth $971,370 in the last ninety days. Insiders own 84.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in OppFi by 271.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 36,585 shares of the company’s stock valued at $173,000 after buying an additional 26,742 shares during the period. Barclays PLC raised 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 valued at $199,000 after acquiring an additional 20,630 shares during the period. Geode Capital Management LLC lifted 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 worth $1,897,000 after acquiring an additional 18,149 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of OppFi during the 3rd quarter worth approximately $136,000. Finally, Jane Street Group LLC increased its holdings in OppFi by 28.9% in the 3rd quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock valued at $122,000 after purchasing an additional 5,795 shares during the last quarter. 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.