Northland Securities Raises OppFi (NYSE:OPFI) Price Target to $10.00

OppFi (NYSE:OPFI) had its target price hoisted by investment analysts at Northland Securities from $8.00 to $10.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price objective suggests a potential upside of 50.15% from the company’s current price.

OppFi Stock Down 2.6 %

NYSE OPFI opened at $6.66 on Friday. The firm has a market cap of $574.16 million, a price-to-earnings ratio of 41.63 and a beta of 1.45. The company has a 50-day simple moving average of $6.16 and a two-hundred day simple moving average of $4.72. OppFi has a 12-month low of $2.35 and a 12-month high of $8.54.

Insiders Place Their Bets

In other news, Director David Vennettilli sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $6.45, for a total transaction of $645,000.00. Following the completion of the sale, the director now directly owns 143,825 shares in the company, valued at approximately $927,671.25. This represents a 41.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jocelyn Moore sold 23,149 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $6.70, for a total value of $155,098.30. Following the completion of the sale, the director now directly owns 99,072 shares in the company, valued at $663,782.40. The trade was a 18.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 145,450 shares of company stock valued at $971,370 in the last ninety days. Company insiders own 84.00% of the company’s stock.

Hedge Funds Weigh In On OppFi

Several hedge funds have recently made changes to their positions in the business. Segall Bryant & Hamill LLC purchased a new stake in OppFi in the third quarter worth $2,457,000. Vanguard Group Inc. lifted its position in shares of OppFi by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 823,916 shares of the company’s stock worth $2,060,000 after purchasing an additional 5,218 shares during the period. Brendel Financial Advisors LLC bought a new stake in shares of OppFi during the 3rd quarter valued at about $105,000. Marshall Wace LLP increased its position in shares of OppFi by 24.2% during the second quarter. Marshall Wace LLP now owns 171,318 shares of the company’s stock valued at $581,000 after buying an additional 33,347 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in OppFi by 120.5% in the second quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock worth $124,000 after buying an additional 20,048 shares in the last quarter. 7.10% of the stock is owned by hedge funds and other institutional investors.

OppFi Company Profile

OppFi Inc operates a cialty finance platform that allows banks to offer credit access. Its platform facilitates the OppLoans, an installment loan product; SalaryTap, a payroll deduction secured installment loan product; and OppFi Card, a credit card product. OppFi Inc was founded in 2012 and is headquartered in Chicago, Illinois.