Geode Capital Management LLC Increases Stock Holdings in OppFi Inc. (NYSE:OPFI)

Geode Capital Management LLC lifted its stake in shares of OppFi Inc. (NYSE:OPFI) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 401,122 shares of the company’s stock after buying an additional 18,149 shares during the quarter. Geode Capital Management LLC’s holdings in OppFi were worth $1,897,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Segall Bryant & Hamill LLC acquired a new stake in OppFi during the 3rd quarter worth $2,457,000. Marshall Wace LLP boosted its stake in OppFi by 24.2% in the second 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. Los Angeles Capital Management LLC purchased a new position in shares of OppFi during the third quarter worth about $355,000. Barclays PLC increased its position in shares of OppFi by 95.9% during the third quarter. Barclays PLC now owns 42,141 shares of the company’s stock worth $199,000 after purchasing an additional 20,630 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of OppFi by 120.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock valued at $124,000 after purchasing an additional 20,048 shares during the last quarter. Institutional investors and hedge funds own 7.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Northland Securities raised their price target on OppFi from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th.

OppFi Price Performance

Shares of OppFi stock opened at $8.17 on Thursday. The firm’s fifty day simple moving average is $7.15 and its 200-day simple moving average is $5.30. OppFi Inc. has a 12 month low of $2.35 and a 12 month high of $8.73. The stock has a market capitalization of $704.34 million, a price-to-earnings ratio of 51.07 and a beta of 1.45.

Insiders Place Their Bets

In other OppFi news, Director David Vennettilli sold 100,000 shares of OppFi stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $6.45, for a total value of $645,000.00. Following the transaction, the director now directly owns 143,825 shares in the company, valued at approximately $927,671.25. This trade represents a 41.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jocelyn Moore sold 23,149 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $6.70, for a total transaction of $155,098.30. Following the completion of the transaction, the director now directly owns 99,072 shares in the company, valued at $663,782.40. This represents a 18.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,450 shares of company stock valued at $971,370. Insiders own 84.00% of the company’s stock.

OppFi 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.