OppFi (NYSE:OPFI) Shares Gap Up – Still a Buy?

OppFi Inc. (NYSE:OPFI) shares gapped up before the market opened on Friday . The stock had previously closed at $8.08, but opened at $8.31. OppFi shares last traded at $8.50, with a volume of 134,760 shares.

Wall Street Analysts Forecast Growth

Separately, Northland Securities boosted their price objective on shares of OppFi from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th.

OppFi Price Performance

The business has a 50-day moving average of $7.01 and a 200-day moving average of $5.21. The firm has a market cap of $739.72 million, a price-to-earnings ratio of 53.63 and a beta of 1.45.

Insider Transactions at OppFi

In related news, Director David Vennettilli sold 22,301 shares of OppFi stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $7.68, for a total transaction of $171,271.68. Following the completion of the transaction, the director now owns 121,524 shares in the company, valued at approximately $933,304.32. This trade represents a 15.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jocelyn Moore sold 23,149 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 99,072 shares of the company’s stock, valued at approximately $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 have sold a total of 145,450 shares of company stock worth $971,370 in the last 90 days. Corporate insiders own 84.00% of the company’s stock.

Hedge Funds Weigh In On OppFi

Institutional investors and hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new stake in shares of OppFi during the 3rd quarter worth about $60,000. Brendel Financial Advisors LLC bought a new stake in shares of OppFi during the third quarter worth approximately $105,000. Jane Street Group LLC grew its position in shares of OppFi by 28.9% in the third quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock valued at $122,000 after purchasing an additional 5,795 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of OppFi by 120.5% during the second quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock worth $124,000 after purchasing an additional 20,048 shares during the period. Finally, XTX Topco Ltd acquired a new stake in OppFi during the 3rd quarter worth approximately $136,000. 7.10% of the stock is currently owned by institutional investors and hedge funds.

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.