OppFi (NYSE:OPFI) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen cut shares of OppFi (NYSE:OPFI) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

Other equities analysts have also issued research reports about the company. Citizens Jmp decreased their price target on OppFi from $16.00 to $15.00 and set a “market outperform” rating for the company in a research report on Friday, April 17th. Weiss Ratings upgraded OppFi from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday. Finally, Stephens increased their price target on OppFi from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.00.

OppFi Stock Down 3.2%

Shares of OPFI stock opened at $8.64 on Friday. The stock has a 50-day simple moving average of $8.54 and a 200 day simple moving average of $9.41. OppFi has a fifty-two week low of $7.36 and a fifty-two week high of $15.03. The stock has a market capitalization of $737.43 million, a P/E ratio of 9.29 and a beta of 1.86.

OppFi (NYSE:OPFI) last announced its earnings results on Thursday, May 7th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. OppFi had a return on equity of 39.90% and a net margin of 10.86%.The business had revenue of $87.30 million during the quarter, compared to analysts’ expectations of $151.14 million. On average, sell-side analysts anticipate that OppFi will post 1.8 earnings per share for the current year.

Insider Transactions at OppFi

In other news, Director David Vennettilli sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of the sale, the director directly owned 132,389 shares of the company’s stock, valued at $1,323,890. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jocelyn Moore sold 8,190 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $8.53, for a total value of $69,860.70. Following the sale, the director directly owned 39,076 shares of the company’s stock, valued at $333,318.28. This trade represents a 17.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 70.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On OppFi

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of OppFi by 163.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 780,258 shares of the company’s stock worth $8,840,000 after purchasing an additional 483,859 shares in the last quarter. Diversify Advisory Services LLC raised its stake in shares of OppFi by 98.9% in the 3rd quarter. Diversify Advisory Services LLC now owns 321,636 shares of the company’s stock valued at $3,644,000 after acquiring an additional 159,895 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of OppFi by 1,462.8% in the 3rd quarter. Quantbot Technologies LP now owns 135,382 shares of the company’s stock valued at $1,534,000 after acquiring an additional 126,719 shares in the last quarter. Accredited Wealth Management LLC bought a new position in shares of OppFi in the 3rd quarter valued at approximately $49,000. Finally, AXQ Capital LP bought a new position in shares of OppFi in the 3rd quarter valued at approximately $143,000. 7.10% of the stock is owned by hedge funds and other institutional investors.

About OppFi

OppFi (NYSE: OPFI) is a financial technology company that provides digital lending and credit solutions designed to meet the needs of near-prime consumers in the United States. Through its technology-driven platform, OppFi offers unsecured installment loans under the OppLoans brand, allowing borrowers to access credit online or via mobile devices. The company leverages proprietary data analytics and machine learning models to assess credit risk, streamline underwriting processes and deliver personalized loan products with transparent terms.

Headquartered in Chicago, Illinois, OppFi was founded in 2013 with a mission to increase financial inclusion for underserved and underbanked populations.