OppFi (NYSE:OPFI) Sees Large Volume Increase – Should You Buy?

OppFi Inc. (NYSE:OPFI) saw unusually-strong trading volume on Tuesday . Approximately 329,323 shares traded hands during trading, an increase of 12% from the previous session’s volume of 293,961 shares.The stock last traded at $7.99 and had previously closed at $7.85.

Analyst Ratings Changes

Separately, Northland Securities boosted their target price on shares of OppFi from $6.00 to $8.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th.

OppFi Trading Down 0.2 %

The firm’s fifty day moving average price is $5.49 and its 200 day moving average price is $4.37. The firm has a market capitalization of $687.96 million, a PE ratio of 49.32 and a beta of 1.20.

Insider Activity

In other news, Director David Vennettilli sold 100,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 143,825 shares of the company’s stock, valued at $927,671.25. This represents a 41.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $155,098.30. Following the completion of the transaction, the director now owns 99,072 shares of the company’s stock, valued at approximately $663,782.40. This represents a 18.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 84.00% of the company’s stock.

Hedge Funds Weigh In On OppFi

Large investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC acquired a new position in shares of OppFi in the 3rd quarter valued at $2,457,000. Vanguard Group Inc. lifted its stake in shares of OppFi by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 823,916 shares of the company’s stock valued at $2,060,000 after purchasing an additional 5,218 shares during the period. Acadian Asset Management LLC acquired a new position in shares of OppFi in the 1st quarter valued at $51,000. Brendel Financial Advisors LLC acquired a new position in shares of OppFi in the 3rd quarter valued at $105,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of OppFi by 120.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock valued at $124,000 after purchasing an additional 20,048 shares during the period. 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.