OppFi (NYSE:OPFI) Stock Price Declines by 4.6% - Here's Why

The stock price of OppFi Inc. (NYSE:OPFI) dropped by 4.6% during trading on Monday. The shares fell to a low of $15.76 and were last seen trading at $16.17. In total, 948,287 shares changed hands during the day, marking a significant decline of 61% compared to the average daily trading volume of 2,408,321 shares. The stock had closed the previous trading session at $16.94.

Analysts Update Price Targets

In a recent announcement, Northland Securities increased its price target for OppFi shares from $8.00 to $10.00 while giving the stock an "outperform" rating in their report.

OppFi's Price Movement Analysis

The company's 50-day moving average sits at $9.72 and its 200-day moving average is at $6.69. Currently, OppFi has a market capitalization of approximately $1.33 billion, a price-to-earnings (PE) ratio of 96.53, and a beta of 1.57, indicating a higher volatility compared to the market.

On November 7th, OppFi reported its quarterly earnings, revealing $0.33 earnings per share (EPS) for the quarter. This figure surpassed analysts' consensus estimate of $0.21 by $0.12. The company also recorded a net margin of 1.40% and a return on equity of 35.04%. Revenue for the quarter came in at $136.59 million, exceeding the expected $128.94 million. In the corresponding quarter the previous year, OppFi earned $0.16 EPS, showing growth. Analysts forecast that OppFi Inc. will achieve $0.86 EPS for the current fiscal year.

Insider Transactions

In other news regarding OppFi, Director David Vennettilli sold 22,301 shares of company stock on December 2nd, with each share sold at an average price of $7.68, resulting in a total sale of approximately $171,271.68. After this sale, Vennettilli still holds 121,524 shares valued at about $933,304.32, representing a decrease of 15.51% in his ownership. This transaction was officially disclosed in a filing with the Securities & Exchange Commission. Notably, insiders own 84.00% of OppFi's shares.

Institutional Investors' Moves

Recent changes in holdings by institutional investors reflect varying interest levels in OppFi. Segall Bryant & Hamill LLC acquired a new stake in OppFi during the third quarter valued at $2,457,000. Similarly, Geode Capital Management LLC increased its position by 4.7% during the same period, now owning 401,122 shares valued at $1,897,000 after adding 18,149 shares. Globeflex Capital L P significantly raised its stake by 191.8% in the fourth quarter, resulting in ownership of 187,796 shares valued at $1,439,000. Los Angeles Capital Management LLC also boosted its stake by 97.6% in the same quarter, possessing 148,344 shares valued at $1,136,000 after purchasing 73,258 additional shares. Lastly, Charles Schwab Investment Management Inc. increased its stake in OppFi by 8.8%, now holding 54,359 shares worth $416,000. Currently, 7.10% of OppFi's stock is held by institutional investors.

Overview of OppFi Inc.

Founded in 2012 and based in Chicago, Illinois, OppFi Inc. operates a specialty finance platform designed to help banks provide credit access. Their platform supports products such as OppLoans (installment loans), SalaryTap (payroll deduction secured installment loans), and the OppFi Card (credit card product).

OppFi, Stocks, Investors