OppFi (NYSE:OPFI) Shares Down 9% – Here’s What Happened

OppFi Inc. (NYSE:OPFI) shares dropped 9% on Monday . The company traded as low as $10.18 and last traded at $10.27. Approximately 1,222,168 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 2,532,489 shares. The stock had previously closed at $11.29.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citizens Jmp lowered shares of OppFi from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Northland Securities boosted their price objective on OppFi from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, JMP Securities downgraded OppFi from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th.

OppFi Price Performance

The business’s 50 day moving average is $10.88 and its two-hundred day moving average is $7.35. The firm has a market cap of $973.31 million, a P/E ratio of 70.45 and a beta of 1.57.

Insider Transactions at OppFi

In other OppFi news, Director David Vennettilli sold 22,301 shares of the business’s stock in a transaction 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 in the company, valued at approximately $933,304.32. The trade was a 15.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 84.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its position in OppFi by 52.6% in the 4th quarter. Renaissance Technologies LLC now owns 826,115 shares of the company’s stock valued at $6,328,000 after acquiring an additional 284,900 shares in the last quarter. Marshall Wace LLP raised its position in OppFi by 249.2% in the 4th quarter. Marshall Wace LLP now owns 617,366 shares of the company’s stock valued at $4,729,000 after buying an additional 440,582 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in OppFi in the 3rd quarter valued at $2,457,000. Two Sigma Investments LP lifted its stake in OppFi by 19.8% during the 4th quarter. Two Sigma Investments LP now owns 447,260 shares of the company’s stock valued at $3,426,000 after acquiring an additional 73,905 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in OppFi by 27.9% during the 4th quarter. Two Sigma Advisers LP now owns 429,100 shares of the company’s stock worth $3,287,000 after acquiring an additional 93,700 shares during the last quarter. 7.10% of the stock is currently owned by institutional investors and hedge funds.

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.