Wall Street Zen Upgrades OppFi (NYSE:OPFI) to “Strong-Buy”

OppFi (NYSE:OPFI) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

A number of other equities research analysts have also recently weighed in on the stock. Weiss Ratings raised shares of OppFi from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Stephens boosted their price target on shares of OppFi from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Citizens Jmp reduced their price target on shares of OppFi from $16.00 to $15.00 and set a “market outperform” rating for the company in a research report on Friday, April 17th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.00.

OppFi Trading Down 1.4%

Shares of OPFI stock opened at $8.34 on Friday. The firm has a fifty day moving average price of $8.50 and a 200 day moving average price of $9.25. The company has a market cap of $711.73 million, a P/E ratio of 8.96 and a beta of 1.79. OppFi has a 12 month low of $7.36 and a 12 month high of $15.03.

OppFi (NYSE:OPFI) last issued its earnings results on Thursday, May 7th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. OppFi had a net margin of 10.86% and a return on equity of 39.90%. The firm had revenue of $87.30 million during the quarter, compared to the consensus estimate of $151.14 million. On average, equities analysts forecast that OppFi will post 1.8 EPS for the current year.

Insider Transactions at OppFi

In other news, Director Jocelyn Moore sold 8,190 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $8.53, for a total value of $69,860.70. Following the completion of the sale, the director directly owned 39,076 shares of the company’s stock, valued at approximately $333,318.28. This represents a 17.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Vennettilli sold 10,000 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were 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. The trade was a 7.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 70.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OppFi

A number of institutional investors and hedge funds have recently made changes to their positions in OPFI. Wellington Management Group LLP raised its holdings in shares of OppFi by 193.3% in the fourth quarter. Wellington Management Group LLP now owns 2,474,102 shares of the company’s stock valued at $25,879,000 after buying an additional 1,630,450 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of OppFi by 163.2% during the third quarter. JPMorgan Chase & Co. now owns 780,258 shares of the company’s stock worth $8,840,000 after acquiring an additional 483,859 shares during the period. Jump Financial LLC acquired a new position in shares of OppFi during the third quarter worth about $3,056,000. Nuveen LLC increased its stake in shares of OppFi by 53.8% during the fourth quarter. Nuveen LLC now owns 754,039 shares of the company’s stock worth $7,887,000 after acquiring an additional 263,744 shares during the period. Finally, Squarepoint Ops LLC increased its stake in shares of OppFi by 342.0% during the third quarter. Squarepoint Ops LLC now owns 291,197 shares of the company’s stock worth $3,299,000 after acquiring an additional 225,315 shares during the period. 7.10% of the stock is owned by hedge funds and other institutional investors.

OppFi Company Profile

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.