OppFi (NYSE:OPFI) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research cut shares of OppFi (NYSE:OPFI) from a hold rating to a strong sell rating in a report published on Tuesday,Zacks reports.

OPFI has been the subject of several other reports. Wall Street Zen downgraded shares of OppFi from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Citigroup reaffirmed a “market outperform” rating on shares of OppFi in a research note on Thursday, October 15th. UBS Group set a $11.00 price objective on shares of OppFi in a report on Wednesday, August 26th. Piper Sandler lowered shares of OppFi to a “neutral” rating in a report on Wednesday, August 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of OppFi in a research note on Wednesday, November 4th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, OppFi presently has a consensus rating of “Hold” and a consensus target price of $10.50.

OppFi Price Performance

Shares of NYSE:OPFI opened at $6.00 on Tuesday. The business’s fifty day moving average price is $6.27 and its two-hundred day moving average price is $8.08. OppFi has a fifty-two week low of $5.36 and a fifty-two week high of $11.69. The stock has a market capitalization of $508.80 million, a price-to-earnings ratio of 3.95 and a beta of 1.95.

OppFi (NYSE:OPFI) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. OppFi had a return on equity of 25.06% and a net margin of 15.62%. The company had revenue of $92.75 million during the quarter, compared to analysts’ expectations of $152.10 million. Research analysts expect that OppFi will post 1.36 EPS for the current fiscal year.

Insider Activity

In related news, CFO Pamela D. Johnson sold 8,650 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $8.02, for a total transaction of $69,373.00. Following the transaction, the chief financial officer owned 151,039 shares in the company, valued at $1,211,332.78. This represents a 5.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd G. Schwartz acquired 3,300 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were bought at an average cost of $7.96 per share, for a total transaction of $26,268.00. Following the acquisition, the chief executive officer owned 639,958 shares in the company, valued at approximately $5,094,065.68. The trade was a 0.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 70,640 shares of company stock worth $513,475 and sold 114,985 shares worth $832,289. 70.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OppFi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in shares of OppFi by 14.8% in the second quarter. Wellington Management Group LLP now owns 3,019,250 shares of the company’s stock valued at $29,981,000 after purchasing an additional 389,082 shares in the last quarter. PL Capital Advisors LLC bought a new position in OppFi in the 2nd quarter worth approximately $2,979,000. Arrowstreet Capital Limited Partnership raised its position in OppFi by 208.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 211,667 shares of the company’s stock worth $1,632,000 after purchasing an additional 142,971 shares during the last quarter. Globeflex Capital L P acquired a new position in OppFi during the 2nd quarter worth $3,240,000. Finally, Dimensional Fund Advisors LP lifted its holdings in OppFi by 50.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 426,089 shares of the company’s stock worth $3,285,000 after buying an additional 141,949 shares in the last quarter. Institutional investors and hedge funds own 7.10% of the company’s stock.

OppFi Company Profile

OppFi Inc. is a financial technology company that provides consumer credit products, including personal installment loans and a credit card. Its digital platform is designed to help people who may have difficulty obtaining credit through traditional financial institutions access financial services. The company works with bank partners to offer its products, while providing technology and customer-support services. Product availability and terms can vary by state. Originally known as OppLoans, the company adopted the OppFi name in 2021 when it became publicly traded.