OppFi (NYSE:OPFI) Stock Rating Upgraded by Zacks Research

OppFi (NYSE:OPFI) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other research firms have also recently weighed in on OPFI. 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 for the company in a research note on Friday, April 17th. Citigroup reaffirmed a “market outperform” rating on shares of OppFi in a report on Friday. Stephens upped 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. Finally, Wall Street Zen lowered OppFi from a “strong-buy” rating to a “buy” rating in a report on Saturday. One investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

OppFi Price Performance

Shares of OppFi stock opened at $9.93 on Monday. The firm has a market cap of $848.26 million, a PE ratio of 10.68 and a beta of 1.79. OppFi has a 1 year low of $7.36 and a 1 year high of $14.97. The stock has a fifty day moving average price of $8.72 and a 200-day moving average price of $9.11.

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

Insider Activity

In other news, Director David Vennettilli sold 10,000 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christina M. Favilla sold 30,000 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $8.14, for a total value of $244,200.00. Following the transaction, the director 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 70.20% of the company’s stock.

Institutional Investors Weigh In On OppFi

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new stake in OppFi during the 1st quarter valued at about $91,000. Corsair Capital Management L.P. purchased a new position in OppFi in the 1st quarter worth approximately $229,000. Renaissance Technologies LLC lifted its position 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 purchasing an additional 14,100 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of OppFi by 208.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 211,667 shares of the company’s stock valued at $1,632,000 after purchasing an additional 142,971 shares during the period. Finally, Sei Investments Co. purchased a new stake in shares of OppFi during the first 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.