OppFi (NYSE:OPFI) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of OppFi (NYSE:OPFI) from a hold rating to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

A number of other research analysts have also recently issued reports on the company. Wall Street Zen cut OppFi from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Stephens increased their target price on shares of OppFi from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Weiss Ratings upgraded shares of OppFi from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Citizens Jmp decreased their price target on shares of OppFi from $16.00 to $15.00 and set a “market outperform” rating on the stock in a report on Friday, April 17th. Finally, Citigroup reiterated a “market outperform” rating on shares of OppFi in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, OppFi presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

OppFi Stock Performance

Shares of OPFI stock opened at $9.93 on Monday. The stock’s fifty day moving average price is $8.72 and its two-hundred day moving average price is $9.11. The company has a market cap of $848.26 million, a PE ratio of 10.68 and a beta of 1.79. OppFi has a fifty-two week low of $7.36 and a fifty-two week high of $14.97.

OppFi (NYSE:OPFI) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.35 earnings per share (EPS) 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 company had revenue of $87.30 million for the quarter, compared to analyst estimates of $151.14 million. On average, equities analysts predict that OppFi will post 1.8 EPS for the current fiscal year.

Insider Activity at OppFi

In other OppFi news, Director David Vennettilli sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $10.00, for a total value of $100,000.00. Following the completion of the transaction, the director directly owned 132,389 shares in the company, valued at approximately $1,323,890. This represents a 7.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christina M. Favilla sold 30,000 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $8.14, for a total transaction of $244,200.00. Following the transaction, the director directly owned 156,737 shares of the company’s stock, valued at $1,275,839.18. The trade was a 16.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 70.20% of the company’s stock.

Institutional Investors Weigh In On OppFi

A number of institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC bought a new position in shares of OppFi during the first quarter worth about $91,000. Corsair Capital Management L.P. acquired a new position in shares of OppFi in the first quarter worth approximately $229,000. Renaissance Technologies LLC boosted its holdings in OppFi by 2.3% in the first quarter. Renaissance Technologies LLC now owns 630,308 shares of the company’s stock valued at $4,860,000 after acquiring an additional 14,100 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in OppFi by 208.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 211,667 shares of the company’s stock valued at $1,632,000 after acquiring an additional 142,971 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in OppFi during the 1st quarter valued at approximately $123,000. Institutional investors own 7.10% of the company’s stock.

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.