OppFi (NYSE:OPFI) Shares Down 4.6% on Insider Selling

OppFi Inc. (NYSE:OPFI)’s stock price fell 4.6% during trading on Tuesday following insider selling activity. The stock traded as low as $11.65 and last traded at $11.73. 469,387 shares were traded during mid-day trading, a decline of 71% from the average session volume of 1,638,543 shares. The stock had previously closed at $12.30.

Specifically, Director Theodore G. Schwartz sold 190,349 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $12.87, for a total value of $2,449,791.63. Following the completion of the sale, the director now owns 199,644 shares of the company’s stock, valued at approximately $2,569,418.28. This represents a 48.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Theodore G. Schwartz sold 96,948 shares of the company’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $12.24, for a total transaction of $1,186,643.52. Following the sale, the director now directly owns 199,644 shares in the company, valued at $2,443,642.56. This trade represents a 32.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Gregory T. Zeeman sold 50,000 shares of OppFi stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $13.98, for a total value of $699,000.00. Following the completion of the transaction, the director now owns 149,644 shares of the company’s stock, valued at $2,092,023.12. This trade represents a 25.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OPFI shares. Stephens began coverage on OppFi in a report on Thursday, June 12th. They set an “equal weight” rating and a $14.50 price target for the company. Northland Securities set a $13.00 target price on OppFi in a research note on Thursday, March 6th. JMP Securities raised OppFi from a “market perform” rating to a “market outperform” rating and set a $13.50 price target for the company in a report on Thursday, May 8th. Finally, Citizens Jmp raised shares of OppFi from a “market perform” rating to an “outperform” rating and set a $13.50 price objective for the company in a research report on Thursday, May 8th.

OppFi Price Performance

The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 73.32 and a beta of 1.73. The company’s 50-day simple moving average is $11.00 and its 200-day simple moving average is $10.35.

OppFi (NYSE:OPFI) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.12. OppFi had a return on equity of 35.04% and a net margin of 1.40%. The firm had revenue of $140.27 million for the quarter, compared to analysts’ expectations of $137.71 million. Research analysts expect that OppFi Inc. will post 0.86 earnings per share for the current year.

OppFi Dividend Announcement

The firm also recently announced a special dividend, which was paid on Friday, April 18th. Shareholders of record on Tuesday, April 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, April 8th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in OppFi during the first quarter worth about $27,000. Strategic Investment Solutions Inc. IL raised its position in shares of OppFi by 65.5% in the 1st quarter. Strategic Investment Solutions Inc. IL now owns 3,227 shares of the company’s stock valued at $30,000 after buying an additional 1,277 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of OppFi by 2,488.9% during the 1st quarter. GAMMA Investing LLC now owns 5,152 shares of the company’s stock worth $48,000 after acquiring an additional 4,953 shares during the period. Quantbot Technologies LP boosted its position in shares of OppFi by 393.4% during 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 in the last quarter. Finally, Ancora Advisors LLC acquired a new stake in shares of OppFi during the 4th quarter worth approximately $65,000. 7.10% of the stock is owned by institutional investors.

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.