OppFi (NYSE:OPFI) Stock Rating Upgraded by Zacks Research

OppFi (NYSE:OPFI) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

OPFI has been the subject of several other reports. Stephens raised their target price on OppFi from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Wall Street Zen downgraded OppFi from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Citizens Jmp cut their price target on OppFi from $16.00 to $15.00 and set a “market outperform” rating on the stock in a report on Friday, April 17th. Citigroup restated a “market outperform” rating on shares of OppFi in a report on Friday. Finally, Weiss Ratings raised OppFi from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

OppFi Stock Up 5.5%

NYSE:OPFI opened at $9.93 on Monday. OppFi has a twelve month low of $7.36 and a twelve month high of $14.97. The company has a fifty day moving average of $8.72 and a 200-day moving average of $9.11. The firm has a market capitalization of $848.26 million, a P/E ratio of 10.68 and a beta of 1.79.

OppFi (NYSE:OPFI) last issued its earnings results on Thursday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. OppFi had a net margin of 10.86% and a return on equity of 39.90%. The business had revenue of $87.30 million for the quarter, compared to analyst estimates of $151.14 million. On average, analysts anticipate that OppFi will post 1.8 EPS for the current fiscal year.

Insider Transactions at OppFi

In other OppFi news, Director David Vennettilli sold 10,000 shares of OppFi stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of the transaction, the director owned 132,389 shares in the company, valued at approximately $1,323,890. The trade was a 7.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christina M. Favilla sold 30,000 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $8.14, for a total value of $244,200.00. Following the completion of the sale, the director directly owned 156,737 shares of the company’s stock, valued at approximately $1,275,839.18. This trade represents a 16.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 70.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On OppFi

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings in shares of OppFi by 191.3% in the first quarter. Goldman Sachs Group Inc. now owns 189,961 shares of the company’s stock valued at $1,767,000 after purchasing an additional 124,744 shares during the last quarter. Rhumbline Advisers boosted its holdings in OppFi by 23.3% during the first quarter. Rhumbline Advisers now owns 19,362 shares of the company’s stock worth $180,000 after purchasing an additional 3,662 shares during the last quarter. Creative Planning bought a new stake in OppFi in the 2nd quarter worth about $188,000. Cetera Investment Advisers purchased a new stake in OppFi in the 2nd quarter valued at about $206,000. Finally, JPMorgan Chase & Co. increased its stake in OppFi by 3,200.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 296,399 shares of the company’s stock valued at $4,147,000 after buying an additional 287,418 shares during the last quarter. 7.10% of the stock is owned by hedge funds and other institutional investors.

OppFi Company Profile

OppFi (NYSE: OPFI) is a financial technology company that provides digital lending and credit solutions designed to meet the needs of near-prime consumers in the United States. Through its technology-driven platform, OppFi offers unsecured installment loans under the OppLoans brand, allowing borrowers to access credit online or via mobile devices. The company leverages proprietary data analytics and machine learning models to assess credit risk, streamline underwriting processes and deliver personalized loan products with transparent terms.

Headquartered in Chicago, Illinois, OppFi was founded in 2013 with a mission to increase financial inclusion for underserved and underbanked populations.