OppFi (NYSE:OPFI) Sees Unusually-High Trading Volume – Here’s What Happened

OppFi Inc. (NYSE:OPFI) shares saw unusually-high trading volume on Tuesday . Approximately 954,242 shares were traded during mid-day trading, an increase of 11% from the previous session’s volume of 856,763 shares.The stock last traded at $12.82 and had previously closed at $11.98.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OPFI. Citizens Jmp upgraded shares of OppFi from a “market perform” rating to an “outperform” rating and set a $13.50 price target on the stock in a report on Thursday, May 8th. Northland Securities set a $13.00 target price on shares of OppFi in a research note on Thursday, March 6th. Finally, JMP Securities raised shares of OppFi from a “market perform” rating to a “market outperform” rating and set a $13.50 price objective on the stock in a research note on Thursday, May 8th.

OppFi Stock Up 7.0%

The business’s fifty day moving average is $9.83 and its 200 day moving average is $9.74. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 80.13 and a beta of 1.61.

OppFi (NYSE:OPFI) last announced its earnings results on Wednesday, May 7th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.26 by $0.12. OppFi had a net margin of 1.40% and a return on equity of 35.04%. The business had revenue of $140.27 million during the quarter, compared to the consensus estimate of $137.71 million. Equities research analysts expect that OppFi Inc. will post 0.86 EPS for the current year.

OppFi Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Friday, April 18th. Stockholders of record on Tuesday, April 8th were paid a $0.25 dividend. The ex-dividend date was Tuesday, April 8th.

Insider Activity

In other OppFi news, Director Theodore G. Schwartz sold 79,559 shares of OppFi stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $9.13, for a total transaction of $726,373.67. Following the completion of the sale, the director now directly owns 186,737 shares in the company, valued at $1,704,908.81. The trade was a 29.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Vennettilli sold 43,238 shares of OppFi stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $9.45, for a total transaction of $408,599.10. Following the sale, the director now owns 90,762 shares of the company’s stock, valued at approximately $857,700.90. The trade was a 32.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,417,656 shares of company stock worth $14,134,092 over the last quarter. Insiders own 72.00% of the company’s stock.

Institutional Investors Weigh In On OppFi

Hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in OppFi during the first quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL lifted its position in OppFi by 65.5% during the first quarter. Strategic Investment Solutions Inc. IL now owns 3,227 shares of the company’s stock valued at $30,000 after purchasing an additional 1,277 shares during the last quarter. GAMMA Investing LLC lifted its position in OppFi by 2,488.9% during the first quarter. GAMMA Investing LLC now owns 5,152 shares of the company’s stock valued at $48,000 after purchasing an additional 4,953 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of OppFi by 393.4% in the 1st quarter. Quantbot Technologies LP now owns 7,169 shares of the company’s stock worth $67,000 after acquiring an additional 5,716 shares during the last quarter. Finally, Ancora Advisors LLC bought a new stake in shares of OppFi in the 4th quarter worth approximately $65,000. 7.10% of the stock is currently owned by 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.