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

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

Several other research firms also recently issued reports on OPFI. Citigroup reiterated a “market outperform” rating on shares of OppFi in a report on Friday, June 26th. Stephens raised their price objective on shares of OppFi from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Citizens Jmp cut their target price on shares of OppFi from $16.00 to $15.00 and set a “market outperform” rating on the stock in a research note on Friday, April 17th. Zacks Research raised shares of OppFi from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Finally, Weiss Ratings upgraded shares of OppFi from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

OppFi Price Performance

Shares of OPFI opened at $9.02 on Friday. The firm has a 50-day simple moving average of $8.84 and a two-hundred day simple moving average of $8.94. The stock has a market cap of $769.79 million, a PE ratio of 9.69 and a beta of 1.76. OppFi has a 1-year low of $7.36 and a 1-year high of $12.60.

OppFi (NYSE:OPFI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $87.30 million for the quarter, compared to analyst estimates of $151.14 million. OppFi had a net margin of 10.86% and a return on equity of 39.90%. As a group, sell-side analysts expect that OppFi will post 1.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Christina M. Favilla sold 30,000 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $8.14, for a total transaction of $244,200.00. Following the completion of the sale, the director directly owned 156,737 shares of the company’s stock, valued at $1,275,839.18. This trade represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Vennettilli sold 10,000 shares of the firm’s stock in a transaction on 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 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 disclosure for this sale is available in the SEC filing. 70.20% of the stock is currently owned by company insiders.

Institutional Trading of OppFi

Hedge funds have recently modified their holdings of the business. Quarry LP boosted its stake in shares of OppFi by 669.2% in the third quarter. Quarry LP now owns 3,492 shares of the company’s stock valued at $40,000 after buying an additional 3,038 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in OppFi by 217.6% during the second quarter. Russell Investments Group Ltd. now owns 4,681 shares of the company’s stock worth $65,000 after acquiring an additional 3,207 shares during the period. Moran Wealth Management LLC purchased a new position in OppFi in the first quarter worth $84,000. Lazard Asset Management LLC purchased a new position in OppFi in the first quarter worth $91,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in OppFi in the fourth quarter valued at $95,000. 7.10% of the stock is owned by institutional investors and hedge funds.

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.