OppFi (NYSE:OPFI) Stock Price Down 6.8% After Insider Selling

OppFi Inc. (NYSE:OPFI) fell 6.8% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $9.80 and last traded at $10.01. 557,443 shares were traded during mid-day trading, a decline of 74% from the average session volume of 2,183,388 shares. The stock had previously closed at $10.74.

Specifically, Director Theodore G. Schwartz sold 165,174 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $10.58, for a total transaction of $1,747,540.92. Following the transaction, the director now owns 186,737 shares of the company’s stock, valued at $1,975,677.46. The trade was a 46.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodore G. Schwartz sold 58,764 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $9.60, for a total value of $564,134.40. Following the completion of the sale, the director now directly owns 186,737 shares of the company’s stock, valued at approximately $1,792,675.20. The trade was a 23.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, Director Theodore G. Schwartz sold 105,606 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $9.57, for a total transaction of $1,010,649.42. Following the transaction, the director now directly owns 186,737 shares of the company’s stock, valued at approximately $1,787,073.09. The trade was a 36.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of research firms have commented on OPFI. Northland Securities set a $13.00 price objective on shares of OppFi in a research report on Thursday, March 6th. Citizens Jmp downgraded shares of OppFi from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, JMP Securities cut shares of OppFi from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th.

OppFi Trading Down 7.1 %

The company has a 50 day moving average of $11.66 and a 200-day moving average of $8.19. The firm has a market capitalization of $861.89 million, a P/E ratio of 62.35 and a beta of 1.63.

OppFi (NYSE:OPFI) last announced its earnings results on Wednesday, March 5th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.09. OppFi had a net margin of 1.40% and a return on equity of 35.04%. The company had revenue of $135.72 million during the quarter, compared to analysts’ expectations of $133.50 million. During the same quarter in the previous year, the business posted $0.10 earnings per share. As a group, sell-side analysts forecast that OppFi Inc. will post 0.86 EPS for the current fiscal year.

OppFi Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Friday, April 18th. Stockholders of record on Tuesday, April 8th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 8th.

Institutional Investors Weigh In On OppFi

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in OppFi by 271.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 36,585 shares of the company’s stock worth $173,000 after acquiring an additional 26,742 shares during the period. Barclays PLC grew its holdings in shares of OppFi by 95.9% during the 3rd 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. Baader Bank Aktiengesellschaft bought a new position in shares of OppFi in the fourth quarter worth $195,000. Geode Capital Management LLC increased its position in shares of OppFi by 4.7% in the third quarter. Geode Capital Management LLC now owns 401,122 shares of the company’s stock worth $1,897,000 after purchasing an additional 18,149 shares during the period. Finally, Jane Street Group LLC raised 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 purchasing an additional 5,795 shares in the last quarter. 7.10% of the stock is currently owned by institutional investors and hedge funds.

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.