OppFi (NYSE:OPFI) Trading 6.3% Higher Following Analyst Upgrade

OppFi Inc. (NYSE:OPFI) shares shot up 6.3% on Friday after Northland Securities raised their price target on the stock from $8.00 to $10.00. Northland Securities currently has an outperform rating on the stock. OppFi traded as high as $7.29 and last traded at $7.08. 54,185 shares changed hands during trading, a decline of 82% from the average session volume of 304,531 shares. The stock had previously closed at $6.66.

Insider Activity at OppFi

In other news, Director David Vennettilli sold 22,301 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $7.68, for a total value of $171,271.68. Following the completion of the sale, the director now owns 121,524 shares of the company’s stock, valued at $933,304.32. This trade represents a 15.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jocelyn Moore sold 23,149 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $6.70, for a total value of $155,098.30. Following the transaction, the director now directly owns 99,072 shares in the company, valued at $663,782.40. The trade was a 18.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 145,450 shares of company stock worth $971,370 in the last quarter. 84.00% of the stock is owned by company insiders.

Institutional Trading of OppFi

A number of hedge funds have recently made changes to their positions in OPFI. Segall Bryant & Hamill LLC purchased a new position in OppFi during the third quarter valued at approximately $2,457,000. Los Angeles Capital Management LLC acquired a new stake in shares of OppFi during the 3rd quarter valued at $355,000. Marshall Wace LLP grew its holdings in shares of OppFi by 24.2% during the 2nd quarter. Marshall Wace LLP now owns 171,318 shares of the company’s stock valued at $581,000 after acquiring an additional 33,347 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of OppFi in the third quarter worth $136,000. Finally, Brendel Financial Advisors LLC purchased a new stake in shares of OppFi during the third quarter worth $105,000. 7.10% of the stock is owned by hedge funds and other institutional investors.

OppFi Stock Up 10.2 %

The business has a 50-day moving average of $6.22 and a 200-day moving average of $4.75. The stock has a market cap of $632.81 million, a price-to-earnings ratio of 45.88 and a beta of 1.45.

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.