OppFi (NYSE:OPFI) Downgraded by Zacks Research to “Strong Sell”

OppFi (NYSE:OPFI) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

OPFI has been the topic of several other reports. Piper Sandler downgraded shares of OppFi to a “neutral” rating in a report on Wednesday, August 26th. Stephens lowered their price target on shares of OppFi from $11.00 to $9.50 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Wall Street Zen cut shares of OppFi from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Citigroup restated a “market outperform” rating on shares of OppFi in a research note on Thursday, October 15th. Finally, UBS Group set a $11.00 price objective on shares of OppFi in a report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.50.

OppFi Price Performance

Shares of NYSE OPFI opened at $6.00 on Tuesday. OppFi has a one year low of $5.36 and a one year high of $11.69. The business’s fifty day moving average price is $6.27 and its 200-day moving average price is $8.08. The stock has a market capitalization of $508.80 million, a PE ratio of 3.95 and a beta of 1.95.

OppFi (NYSE:OPFI) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. OppFi had a return on equity of 25.06% and a net margin of 15.62%. The company had revenue of $92.75 million during the quarter, compared to analyst estimates of $152.10 million. As a group, equities analysts expect that OppFi will post 1.36 EPS for the current fiscal year.

Insider Activity at OppFi

In related news, CFO Pamela Johnson sold 8,650 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $8.02, for a total transaction of $69,373.00. Following the sale, the chief financial officer owned 151,039 shares of the company’s stock, valued at approximately $1,211,332.78. This represents a 5.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Todd Schwartz bought 3,300 shares of the business’s stock in a transaction on Friday, September 11th. The stock was bought at an average price of $7.96 per share, with a total value of $26,268.00. Following the purchase, the chief executive officer owned 639,958 shares in the company, valued at $5,094,065.68. This trade represents a 0.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 70,640 shares of company stock worth $513,475 and have sold 114,985 shares worth $832,289. 70.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OppFi

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new stake in shares of OppFi in the third quarter worth about $43,000. Virtus Advisers LLC boosted its position in shares of OppFi by 25.1% in the third quarter. Virtus Advisers LLC now owns 43,371 shares of the company’s stock valued at $262,000 after acquiring an additional 8,704 shares during the period. Allspring Global Investments Holdings LLC grew its stake in OppFi by 3.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 68,043 shares of the company’s stock valued at $405,000 after acquiring an additional 2,458 shares in the last quarter. Kestra Advisory Services LLC grew its stake in OppFi by 5.9% during the third quarter. Kestra Advisory Services LLC now owns 200,507 shares of the company’s stock valued at $1,209,000 after acquiring an additional 11,254 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in OppFi by 16.4% during the third quarter. State of Alaska Department of Revenue now owns 26,141 shares of the company’s stock valued at $157,000 after acquiring an additional 3,689 shares in the last quarter. 7.10% of the stock is currently owned by institutional investors.

About OppFi

OppFi Inc. is a financial technology company that provides consumer credit products, including personal installment loans and a credit card. Its digital platform is designed to help people who may have difficulty obtaining credit through traditional financial institutions access financial services. The company works with bank partners to offer its products, while providing technology and customer-support services. Product availability and terms can vary by state. Originally known as OppLoans, the company adopted the OppFi name in 2021 when it became publicly traded.