OppFi (NYSE:OPFI) Trading Down 5.8% – Here’s Why

OppFi Inc. (NYSE:OPFI)’s share price traded down 5.8% on Monday . The stock traded as low as $8.01 and last traded at $8.08. 276,522 shares traded hands during trading, a decline of 69% from the average session volume of 905,131 shares. The stock had previously closed at $8.58.

Wall Street Analysts Forecast Growth

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

OppFi Price Performance

The firm has a market cap of $634.54 million, a price-to-earnings ratio of 46.00 and a beta of 1.45. The business has a fifty day simple moving average of $7.01 and a 200 day simple moving average of $5.22.

Insider Buying and Selling at OppFi

In related news, Director Jocelyn Moore sold 23,149 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 99,072 shares in the company, valued at approximately $663,782.40. This trade represents a 18.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Vennettilli sold 100,000 shares of OppFi stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $6.45, for a total transaction of $645,000.00. Following the transaction, the director now directly owns 143,825 shares in the company, valued at $927,671.25. This trade represents a 41.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,450 shares of company stock worth $971,370. Corporate insiders own 84.00% of the company’s stock.

Institutional Trading of OppFi

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new position in OppFi in the third quarter worth approximately $60,000. Brendel Financial Advisors LLC purchased a new position in shares of OppFi during the 3rd quarter worth $105,000. Jane Street Group LLC increased its position in shares of OppFi by 28.9% during the 3rd quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock worth $122,000 after purchasing an additional 5,795 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in 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 buying an additional 20,048 shares during the period. Finally, XTX Topco Ltd acquired a new position in OppFi in the third quarter valued at about $136,000. Institutional investors and hedge funds own 7.10% of the company’s stock.

About OppFi

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.