OppFi (NYSE: OPFI – Get a Rating) had its target price lowered by analysts at Needham & Company LLC from $4.50 to $4.00 in a research report released Wednesday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 21.58% from the stock’s previous close.
Separately, JMP Securities cut its price target on OppFi shares from $6.00 to $5.00 and set a “market outperformance” rating on the stock in a Friday, July 15 research note. .
OppFi stock down 10.4%
Shares of NYSE OPFI traded down $0.38 midday Wednesday, hitting $3.29. 2,586 shares of the company were traded, against an average volume of 275,683. OppFi has a 52-week low of $2.46 and a 52-week high of $10.40. The company’s fifty-day moving average price is $3.27 and its two-hundred-day moving average price is $3.36.
Insiders place their bets
In other OppFi news, Director Theodore G. Schwartz acquired 9,333 shares of the company in a transaction that took place on Friday, May 13. The shares were purchased at an average price of $2.96 per share, for a total transaction of $27,625.68. Following the completion of the purchase, the administrator now directly owns 53,877 shares of the company, valued at $159,475.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Theodore G. Schwartz acquired 9,333 shares of OppFi in a trade that took place on Friday, May 13. The shares were acquired at an average price of $2.96 per share, for a total transaction of $27,625.68. As a result of the transaction, the administrator now directly owns 53,877 shares of the company, valued at approximately $159,475.92. The transaction was disclosed in a document filed with the SEC, accessible via this link. Additionally, director Theodore G. Schwartz purchased 13,577 shares of the company in a transaction on Friday, May 27. The stock was purchased at an average cost of $3.54 per share, for a total transaction of $48,062.58. Following completion of the transaction, the administrator now directly owns 118,711 shares of the company, valued at $420,236.94. Disclosure of this purchase can be found here. Insiders acquired a total of 142,121 shares of the company worth $453,158 over the past 90 days. 88.69% of the shares are held by insiders of the company.
Institutional entries and exits
Several institutional investors and hedge funds have recently bought and sold OPFI shares. Virtu Financial LLC bought a new stake in shares of OppFi during the first quarter worth approximately $43,000. Sciencast Management LP acquired a new position in OppFi during Q1 worth $50,000. Renaissance Technologies LLC bought a new position in shares of OppFi in the first quarter worth $95,000. State Street Corp increased its stake in OppFi shares by 10.8% in the first quarter. State Street Corp now owns 44,634 shares of the company worth $153,000 after purchasing an additional 4,334 shares in the last quarter. Finally, Elgethun Capital Management increased its equity stake in OppFi by 14.8% during the first quarter. Elgethun Capital Management now owns 688,439 shares of the company valued at $2,361,000 after purchasing an additional 88,782 shares during the period. Institutional investors hold 4.54% of the company’s shares.
Opfi Company Profile
(Get a rating)
OppFi Inc operates a financial technology platform that enables banks to offer loan products. Its platform facilitates OppLoan, an installment loan product; SalaryTap, an installment loan product secured by payroll deduction; and OppFi Card, a credit card product. The company is based in Chicago, Illinois.
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