OppFi (NYSE:OPFI) Stock Price Up 10.8% - Still a Buy?

OppFi Inc. (NYSE:OPFI) saw a significant uptick in its stock price, rising 10.8% during midday trading on Tuesday. The shares peaked at $10.89 before closing at $10.79. A total of 767,697 shares were exchanged, marking a 66% drop in trading volume compared to the average of 2,241,995 shares. Previously, the stock had closed at $9.74.

Analyst Ratings

Recently, Northland Securities has updated its position on OppFi. They raised their price target from $8.00 to $10.00, categorizing the stock as 'outperform'. This news could signal investor confidence in the company’s potential for growth.

Stock Performance Metrics

OppFi currently boasts a market capitalization of approximately $972.88 million. The stock has a price-to-earnings (P/E) ratio of 70.54 and a beta of 1.45, indicating it may be more volatile than the market. The company's stock has shown stability with a 50-day simple moving average of $7.64 and a two-hundred-day simple moving average of $5.53.

Insider Trading Activity

In recent insider trading, Director David Vennettilli sold 22,301 shares at an average price of $7.68 on December 2nd, totaling around $171,271.68. Following this sale, he holds approximately 121,524 shares valued at around $933,304.32. This transaction represents a 15.51% reduction in his stake. Similarly, on November 11th, Director Jocelyn Moore sold 23,149 shares at an average price of $6.70, amounting to $155,098.30 and reducing her stake by 18.94%. Over the past ninety days, insiders have sold 145,450 shares totaling $971,370, while insiders still own 84.00% of the company's stock.

Institutional Investors' Positions

Institutional trades reflect growing interest in OppFi. Segall Bryant & Hamill LLC established a new stake worth about $2,457,000 in the third quarter. In the same quarter, Los Angeles Capital Management LLC and XTX Topco Ltd bought stakes valued at approximately $355,000 and $136,000 respectively. JPMorgan Chase & Co. also increased their holdings by 271.7%, owning 36,585 shares after purchasing an additional 26,742 shares. The total institutional ownership stands at 7.10%.

About OppFi

Founded in 2012 and headquartered in Chicago, Illinois, OppFi operates a technology-driven financial platform that enables banks to provide equitable credit access. Their services include OppLoans, an installment loan product, SalaryTap, a payroll-secured loan, and the OppFi Card, a credit card product.

Investment Consideration

Before investing in OppFi, it's advised to consider other options. Although the stock is regarded as a 'Buy' by some analysts, it’s important to note that top analysts may recommend alternative stocks with potentially better market performance.

Investing, Stock, Insider