OppFi Inc. (NYSE:OPFI) Receives $13.00 Consensus Price Target from Brokerages

Shares of OppFi Inc. (NYSE:OPFI) have been given an average recommendation of “Moderate Buy” by the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $13.00.

OPFI has been the subject of several recent research reports. Citigroup reiterated a “market outperform” rating on shares of OppFi in a report on Friday, June 26th. Stephens lifted their price objective on OppFi from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Zacks Research raised OppFi from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Citizens Jmp lowered their price target on 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, Weiss Ratings raised shares of OppFi from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th.

Insider Activity at OppFi

In related news, Director David Vennettilli sold 10,000 shares of the business’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 $1,323,890. The trade was a 7.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christina M. Favilla sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $8.14, for a total value of $244,200.00. Following the completion of the transaction, the director directly owned 156,737 shares in the company, valued at $1,275,839.18. This trade represents a 16.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 70.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On OppFi

Institutional investors have recently modified their holdings of the business. Quarry LP increased its holdings in OppFi by 669.2% in the 3rd quarter. Quarry LP now owns 3,492 shares of the company’s stock worth $40,000 after buying an additional 3,038 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of OppFi by 217.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,681 shares of the company’s stock valued at $65,000 after acquiring an additional 3,207 shares during the last quarter. Moran Wealth Management LLC purchased a new stake in shares of OppFi during the 1st quarter valued at about $84,000. Lazard Asset Management LLC bought a new stake in shares of OppFi in the first quarter worth approximately $91,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of OppFi in the fourth quarter worth approximately $95,000. 7.10% of the stock is owned by hedge funds and other institutional investors.

OppFi Trading Up 1.8%

Shares of OPFI stock opened at $9.25 on Friday. OppFi has a 12 month low of $7.36 and a 12 month high of $13.88. The stock has a market cap of $790.20 million, a PE ratio of 9.95 and a beta of 1.76. The company’s fifty day moving average price is $8.85 and its 200-day moving average price is $9.06.

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, topping the consensus estimate of $0.33 by $0.02. OppFi had a net margin of 10.86% and a return on equity of 39.90%. The company had revenue of $87.30 million during the quarter, compared to analyst estimates of $151.14 million. On average, sell-side analysts forecast that OppFi will post 1.8 earnings per share for the current fiscal year.

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.