OppFi (NYSE:OPFI) Shares Gap Down - Here's What Happened

Shares of OppFi Inc. (NYSE:OPFI) experienced a gap down before trading began on Tuesday. The stock, which ended the previous day at $15.42, opened significantly lower at $14.92. As of the last trade, OppFi shares were priced at $15.40, with a trading volume of 757,602 shares.

Wall Street Analyst Opinions

Several analysts have shared their insights regarding OppFi's stock performance. JMP Securities announced a downgrade, reducing their rating from "outperform" to "market perform" in a report released on Wednesday. Meanwhile, Northland Securities increased their target price for OppFi from $8.00 to $10.00, maintaining an "outperform" rating as seen in their report on December 13th. On the other hand, Citizens JMP downgraded OppFi's rating from a "strong buy" to a "hold" in a report published on the same day.

OppFi Stock Down 9.1%

The stock has a market capitalization of $1.12 billion and presents a PE ratio of 81.29, with a beta of 1.57. The 50-day moving average price stands at $10.27, while the 200-day moving average price is noted at $6.95.

Insider Trading Activity

In other news related to OppFi, Director David Vennettilli executed a sale of 22,301 shares on December 2nd, at an average price of $7.68. This transaction totaled $171,271.68. After this sale, the director now holds 121,524 shares of the company's stock, equating to a value of approximately $933,304.32, marking a 15.51% decline in his position. The transaction was duly reported to the SEC, which can be accessed on their website. Notably, insiders own 84.00% of the stock.

Institutional Investor Activity

There have been recent shifts in positioning among institutional investors. Quadrature Capital Ltd acquired a new stake in OppFi valued at $60,000 during the third quarter. Mariner LLC also bought a new share in OppFi worth approximately $93,000 in the fourth quarter. Similarly, Jane Street Group LLC increased its stake in OppFi by 28.9% in the third quarter, owning 25,842 shares valued at $122,000 after buying an additional 5,795 shares in the last quarter. XTX Topco Ltd also entered the market with a stake in OppFi worth around $136,000 during the third quarter. Additionally, NewEdge Advisors LLC raised its position in OppFi by 4.7% in the fourth quarter, now holding 18,328 shares valued at $140,000 after acquiring an extra 831 shares in the last quarter. Currently, institutional investors own 7.10% of the stock.

About OppFi

OppFi Inc. is a specialty finance platform that assists banks in providing credit access to consumers. Its offerings include OppLoans, an installment loan service; SalaryTap, which is a payroll deduction secured installment loan product; and the OppFi Card, which is a credit card product. Established in 2012, OppFi is headquartered in Chicago, Illinois.

Further Insights

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OppFi, Stock, Trading