OppFi (NYSE:OPFI) Shares Gap Down – Here’s What Happened

OppFi Inc. (NYSE:OPFI) shares gapped down prior to trading on Tuesday . The stock had previously closed at $15.42, but opened at $14.92. OppFi shares last traded at $15.40, with a volume of 757,602 shares traded.

Analyst Upgrades and Downgrades

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

OppFi Stock Performance

The company’s 50 day moving average price is $9.88 and its 200-day moving average price is $6.78. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 94.99 and a beta of 1.57.

Insider Transactions at OppFi

In other news, Director David Vennettilli sold 22,301 shares of OppFi stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $7.68, for a total value of $171,271.68. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 84.00% of the stock is currently owned by insiders.

Institutional Trading of OppFi

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in OppFi by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,359 shares of the company’s stock valued at $416,000 after acquiring an additional 4,398 shares during the last quarter. Jane Street Group LLC lifted its stake in 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 acquiring an additional 5,795 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in OppFi by 22.4% in the fourth quarter. Bank of New York Mellon Corp now owns 34,156 shares of the company’s stock valued at $262,000 after acquiring an additional 6,242 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in OppFi in the third quarter valued at approximately $60,000. Finally, Geode Capital Management LLC lifted its stake in OppFi by 4.7% in the third quarter. Geode Capital Management LLC now owns 401,122 shares of the company’s stock valued at $1,897,000 after acquiring an additional 18,149 shares during the last quarter. 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.