OppFi Inc. (NYSE:OPFI – Get Free Report) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $9.35, but opened at $11.25. OppFi shares last traded at $10.02, with a volume of 1,449,616 shares changing hands.
The company reported $0.23 EPS for the quarter, beating the consensus estimate 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 last year, the company posted $0.10 EPS.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. JMP Securities cut shares of OppFi from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. 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 report on Friday, December 13th. Finally, Citizens Jmp cut shares of OppFi from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th.
Institutional Investors Weigh In On OppFi
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ancora Advisors LLC acquired a new stake in OppFi during the 4th quarter worth $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in OppFi by 8.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,801 shares of the company’s stock valued at $83,000 after purchasing an additional 866 shares during the period. Mariner LLC acquired a new position in OppFi in the fourth quarter valued at $93,000. Quadrature Capital Ltd acquired a new position in OppFi in the third quarter valued at $60,000. Finally, MetLife Investment Management LLC acquired a new position in OppFi in the fourth quarter valued at $98,000. 7.10% of the stock is currently owned by institutional investors and hedge funds.
OppFi Price Performance
The company has a market capitalization of $892.57 million, a price-to-earnings ratio of 64.71 and a beta of 1.57. The business’s 50 day simple moving average is $11.27 and its 200 day simple moving average is $7.63.
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.
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