OppFi (NYSE:OPFI) Reaches New 12-Month High – What’s Next?

Shares of OppFi Inc. (NYSE:OPFI) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $8.00 and last traded at $8.00, with a volume of 7775 shares traded. The stock had previously closed at $7.61.

Analysts Set New Price Targets

Separately, Northland Securities increased their price objective on shares of OppFi from $6.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

OppFi Stock Up 0.4 %

The firm has a market cap of $658.64 million, a PE ratio of 47.57 and a beta of 1.20. The company has a 50-day simple moving average of $5.35 and a two-hundred day simple moving average of $4.30.

Insiders Place Their Bets

In other news, Director David Vennettilli sold 100,000 shares of OppFi stock in a transaction on Friday, November 8th. The stock was sold at an average price of $6.45, for a total value of $645,000.00. Following the completion of the transaction, the director now directly owns 143,825 shares in the company, valued at approximately $927,671.25. The trade was a 41.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the director now owns 99,072 shares of the company’s stock, valued at approximately $663,782.40. This represents a 18.94 % decrease in their position. The disclosure for this sale can be found here. Insiders own 84.00% of the company’s stock.

Institutional Investors Weigh In On OppFi

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new position in OppFi in the 1st quarter worth about $51,000. Quadrature Capital Ltd purchased a new stake in OppFi during the third quarter valued at about $60,000. Brendel Financial Advisors LLC bought a new stake in OppFi in the third quarter valued at approximately $105,000. Jane Street Group LLC boosted its position in OppFi by 28.9% during the 3rd quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock valued at $122,000 after buying an additional 5,795 shares during the period. Finally, Bank of New York Mellon Corp raised its position in OppFi by 120.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock valued at $124,000 after purchasing an additional 20,048 shares during the last quarter. 7.10% of the stock is currently owned by institutional investors.

About OppFi

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.