OppFi (NYSE:OPFI) Reaches New 52-Week High – What’s Next?

OppFi Inc. (NYSE:OPFI)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $9.40 and last traded at $8.81, with a volume of 1132820 shares traded. The stock had previously closed at $8.22.

Wall Street Analysts Forecast Growth

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 Trading Up 12.7 %

The firm has a market capitalization of $798.34 million, a price-to-earnings ratio of 57.88 and a beta of 1.45. The firm has a 50 day moving average price of $7.29 and a two-hundred day moving average price of $5.37.

Insider Activity

In other news, 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 value of $645,000.00. Following the transaction, the director now directly owns 143,825 shares of the company’s stock, valued at $927,671.25. The trade was a 41.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jocelyn Moore sold 23,149 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was 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. This trade represents a 18.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 145,450 shares of company stock valued at $971,370 in the last three months. Corporate insiders own 84.00% of the company’s stock.

Hedge Funds Weigh In On OppFi

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in OppFi by 120.5% during the 2nd 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 last quarter. Marshall Wace LLP increased its holdings in OppFi by 24.2% during the 2nd quarter. Marshall Wace LLP now owns 171,318 shares of the company’s stock worth $581,000 after purchasing an additional 33,347 shares during the last quarter. Brendel Financial Advisors LLC purchased a new stake in OppFi during the 3rd quarter worth approximately $105,000. Los Angeles Capital Management LLC purchased a new stake in OppFi during the 3rd quarter worth approximately $355,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in OppFi during the 3rd quarter worth approximately $2,457,000. 7.10% of the stock is 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.