OppFi (NYSE:OPFI) Price Target Lowered to $3.00 at Needham & Company LLC

OppFi (NYSE:OPFIGet Rating) had its target price decreased by Needham & Company LLC from $4.00 to $3.00 in a research report released on Friday morning, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other brokerages also recently commented on OPFI. DA Davidson downgraded OppFi from a buy rating to a neutral rating and lowered their target price for the stock from $6.00 to $3.00 in a research note on Thursday, August 11th. JMP Securities lowered their target price on OppFi from $6.00 to $5.00 and set a market outperform rating on the stock in a research note on Friday, July 15th.

OppFi Stock Performance

Shares of OPFI opened at $2.25 on Friday. The stock has a 50-day moving average of $2.29 and a two-hundred day moving average of $2.83. OppFi has a one year low of $1.87 and a one year high of $7.35. The stock has a market cap of $246.80 million, a P/E ratio of 2.30 and a beta of 0.40.

Insider Transactions at OppFi

In other OppFi news, CEO Todd G. Schwartz purchased 9,864 shares of OppFi stock in a transaction that occurred on Thursday, August 18th. The stock was bought at an average price of $2.59 per share, with a total value of $25,547.76. Following the acquisition, the chief executive officer now owns 218,669 shares of the company’s stock, valued at approximately $566,352.71. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 65,140 shares of company stock worth $168,009 over the last quarter. 88.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On OppFi

A number of large investors have recently bought and sold shares of the business. Elgethun Capital Management raised its holdings in OppFi by 1.2% in the 2nd quarter. Elgethun Capital Management now owns 696,980 shares of the company’s stock worth $2,246,000 after purchasing an additional 8,541 shares during the period. CWA Asset Management Group LLC acquired a new position in OppFi in the 3rd quarter worth about $315,000. State Street Corp raised its holdings in shares of OppFi by 204.5% during the second quarter. State Street Corp now owns 135,899 shares of the company’s stock valued at $447,000 after acquiring an additional 91,265 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of OppFi by 16.6% during the third quarter. Renaissance Technologies LLC now owns 115,000 shares of the company’s stock valued at $265,000 after acquiring an additional 16,400 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of OppFi by 371.6% during the second quarter. Northern Trust Corp now owns 108,227 shares of the company’s stock valued at $356,000 after acquiring an additional 85,276 shares during the last quarter. Institutional investors and hedge funds own 3.62% of the company’s stock.

OppFi Company Profile

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OppFi Inc operates a financial technology platform that allows banks to offer lending products. Its platform facilitates the OppLoan, an installment loan product; SalaryTap, a payroll deduction secured installment loan product; and OppFi Card, a credit card product. The company is based in Chicago, Illinois.

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