OppFi (NYSE:OPFI) Stock Price Down 5.8% – Should You Sell?

OppFi Inc. (NYSE:OPFI)’s stock price dropped 5.8% on Monday . The stock traded as low as $8.01 and last traded at $8.08. Approximately 276,522 shares were traded during trading, a decline of 69% from the average daily volume of 905,131 shares. The stock had previously closed at $8.58.

Wall Street Analysts Forecast Growth

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 company has a market cap of $704.34 million, a PE ratio of 51.07 and a beta of 1.45. The firm has a 50-day simple moving average of $7.09 and a two-hundred day simple moving average of $5.28.

Insider Buying and Selling

In other OppFi news, Director David Vennettilli sold 100,000 shares of OppFi stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $6.45, for a total value of $645,000.00. Following the completion of the sale, the director now directly owns 143,825 shares of the company’s stock, valued at approximately $927,671.25. The trade was a 41.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jocelyn Moore sold 23,149 shares of the business’s 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. This trade represents a 18.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,450 shares of company stock worth $971,370. 84.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On OppFi

Several large investors have recently added to or reduced their stakes in OPFI. Quadrature Capital Ltd acquired a new position in shares of OppFi during the 3rd quarter valued at about $60,000. Brendel Financial Advisors LLC purchased a new stake in OppFi in the third quarter valued at approximately $105,000. Jane Street Group LLC increased its position in OppFi by 28.9% during the third quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock worth $122,000 after purchasing an additional 5,795 shares during the last quarter. Bank of New York Mellon Corp increased its position in OppFi by 120.5% during the second quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock worth $124,000 after purchasing an additional 20,048 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in OppFi during the third quarter worth approximately $136,000. 7.10% of the stock is currently owned by hedge funds and other 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.