OppFi (NYSE:OPFI) Shares Gap Up – What’s Next?

OppFi Inc. (NYSE:OPFI) gapped up before the market opened on Tuesday . The stock had previously closed at $11.02, but opened at $11.65. OppFi shares last traded at $11.31, with a volume of 486,899 shares changing hands.

Analysts Set New Price Targets

Separately, Northland Securities upped their price target on shares of OppFi from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, December 13th.

OppFi Price Performance

The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 75.15 and a beta of 1.45. The firm has a 50 day simple moving average of $7.91 and a two-hundred day simple moving average of $5.70.

Insider Activity at OppFi

In other news, Director David Vennettilli sold 22,301 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $7.68, for a total transaction of $171,271.68. Following the completion of the sale, the director now owns 121,524 shares of the company’s stock, valued at approximately $933,304.32. This represents a 15.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jocelyn Moore sold 23,149 shares of the stock in a transaction on Monday, November 11th. The shares were 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 $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. Over the last three months, insiders sold 145,450 shares of company stock valued at $971,370. 84.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC purchased a new stake in shares of OppFi during the 3rd quarter worth approximately $2,457,000. Los Angeles Capital Management LLC bought a new position in shares of OppFi during the 3rd quarter valued at $355,000. Marshall Wace LLP lifted its stake in OppFi by 24.2% in the second quarter. Marshall Wace LLP now owns 171,318 shares of the company’s stock worth $581,000 after acquiring an additional 33,347 shares during the period. XTX Topco Ltd purchased a new position in OppFi during the third quarter valued at $136,000. Finally, JPMorgan Chase & Co. grew its holdings in OppFi by 271.7% in the third quarter. JPMorgan Chase & Co. now owns 36,585 shares of the company’s stock worth $173,000 after purchasing an additional 26,742 shares during the period. 7.10% of the stock is owned by 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.