OppFi (NYSE:OPFI) Trading Down 7.1% – Time to Sell?

OppFi Inc. (NYSE:OPFI)’s share price was down 7.1% on Monday . The company traded as low as $8.75 and last traded at $8.7350. Approximately 420,760 shares were traded during trading, a decline of 28% from the average session volume of 581,122 shares. The stock had previously closed at $9.40.

Wall Street Analysts Forecast Growth

OPFI has been the topic of a number of recent research reports. Weiss Ratings upgraded OppFi from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Wall Street Zen downgraded OppFi from a “strong-buy” rating to a “buy” rating in a report on Saturday. Zacks Research cut OppFi from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Citizens Jmp lowered their price objective 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. Finally, Stephens lifted 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. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $13.00.

OppFi Stock Down 7.2%

The firm has a 50 day moving average price of $9.09 and a two-hundred day moving average price of $8.89. The company has a market capitalization of $744.60 million, a price-to-earnings ratio of 9.37 and a beta of 1.77.

OppFi (NYSE:OPFI) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $87.30 million for the quarter, compared to analysts’ expectations of $151.14 million. OppFi had a return on equity of 39.90% and a net margin of 10.86%. Analysts predict that OppFi Inc. will post 1.8 earnings per share for the current year.

Insiders Place Their Bets

In other OppFi news, Director Christina M. Favilla sold 30,000 shares of OppFi stock in a transaction that occurred 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 sale, the director directly owned 156,737 shares in the company, valued at $1,275,839.18. The trade was a 16.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 70.20% of the stock is currently owned by company insiders.

Institutional Trading of OppFi

Several institutional investors have recently added to or reduced their stakes in OPFI. Goldman Sachs Group Inc. grew its holdings in OppFi by 191.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 189,961 shares of the company’s stock worth $1,767,000 after acquiring an additional 124,744 shares in the last quarter. Rhumbline Advisers grew its stake in OppFi by 23.3% in the first quarter. Rhumbline Advisers now owns 19,362 shares of the company’s stock worth $180,000 after purchasing an additional 3,662 shares in the last quarter. Creative Planning bought a new stake in OppFi in the second quarter valued at about $188,000. Cetera Investment Advisers acquired a new stake in OppFi during the second quarter valued at approximately $206,000. Finally, JPMorgan Chase & Co. raised its stake in OppFi by 3,200.3% during the second quarter. JPMorgan Chase & Co. now owns 296,399 shares of the company’s stock valued at $4,147,000 after buying an additional 287,418 shares in the last quarter. 7.10% of the stock is owned by institutional investors and hedge funds.

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.