OppFi (NYSE:OPFI) Reaches New 12-Month High – Still a Buy?

Shares of OppFi Inc. (NYSE:OPFI) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $12.25 and last traded at $11.92, with a volume of 2398654 shares traded. The stock had previously closed at $11.02.

Analyst Upgrades and Downgrades

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

OppFi Stock Performance

The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 74.52 and a beta of 1.45. The company has a 50 day moving average price of $8.00 and a two-hundred day moving average price of $5.76.

OppFi (NYSE:OPFI) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.12. OppFi had a net margin of 1.40% and a return on equity of 35.04%. The company had revenue of $136.59 million during the quarter, compared to analysts’ expectations of $128.94 million. During the same period in the prior year, the business posted $0.16 earnings per share. On average, equities analysts expect that OppFi Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other OppFi news, Director Jocelyn Moore sold 23,149 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was 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 approximately $663,782.40. This trade represents a 18.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Vennettilli sold 100,000 shares of the company’s 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 sale, the director now directly owns 143,825 shares of the company’s stock, valued at $927,671.25. The trade was a 41.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,450 shares of company stock worth $971,370. Insiders own 84.00% of the company’s stock.

Hedge Funds Weigh In On OppFi

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd acquired a new stake in OppFi in the 3rd quarter valued at about $60,000. Brendel Financial Advisors LLC acquired a new stake in shares of OppFi in the third quarter valued at approximately $105,000. Jane Street Group LLC lifted its position in OppFi by 28.9% during the third quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock worth $122,000 after buying an additional 5,795 shares in the last quarter. XTX Topco Ltd acquired a new position in OppFi during the third quarter worth $136,000. Finally, JPMorgan Chase & Co. grew 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 in the last quarter. 7.10% of the stock is owned by hedge funds and other institutional investors.

About OppFi

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.