Bank of New York Mellon Corp Increases Stock Holdings in OppFi Inc. (NYSE:OPFI)

Bank of New York Mellon Corp increased its holdings in shares of OppFi Inc. (NYSE:OPFI) by 19.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,679 shares of the company’s stock after buying an additional 6,523 shares during the quarter. Bank of New York Mellon Corp’s holdings in OppFi were worth $378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its stake in OppFi by 4.7% during the 4th quarter. NewEdge Advisors LLC now owns 18,328 shares of the company’s stock worth $140,000 after buying an additional 831 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in OppFi by 8.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,801 shares of the company’s stock worth $83,000 after buying an additional 866 shares during the last quarter. Barclays PLC grew its stake in OppFi by 5.6% during the 4th quarter. Barclays PLC now owns 44,521 shares of the company’s stock worth $341,000 after buying an additional 2,380 shares during the last quarter. Rhumbline Advisers grew its stake in OppFi by 23.3% during the 1st quarter. Rhumbline Advisers now owns 19,362 shares of the company’s stock worth $180,000 after buying an additional 3,662 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in OppFi by 2,488.9% during the 1st quarter. GAMMA Investing LLC now owns 5,152 shares of the company’s stock worth $48,000 after buying an additional 4,953 shares during the last quarter. 7.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OPFI has been the topic of several research analyst reports. JMP Securities upgraded OppFi from a “market perform” rating to a “market outperform” rating and set a $13.50 target price on the stock in a research note on Thursday, May 8th. Citizens Jmp upgraded OppFi from a “market perform” rating to an “outperform” rating and set a $13.50 target price on the stock in a research note on Thursday, May 8th. Finally, Stephens started coverage on OppFi in a research report on Thursday, June 12th. They set an “equal weight” rating and a $14.50 price target for the company.

OppFi Stock Performance

Shares of OPFI opened at $10.25 on Tuesday. The stock has a 50-day moving average of $12.69 and a two-hundred day moving average of $11.44. OppFi Inc. has a one year low of $3.09 and a one year high of $17.73. The stock has a market cap of $889.80 million, a P/E ratio of -27.70 and a beta of 1.71.

OppFi (NYSE:OPFI) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.12. The business had revenue of $140.27 million during the quarter, compared to analysts’ expectations of $137.71 million. OppFi had a positive return on equity of 48.24% and a negative net margin of 1.79%. Analysts predict that OppFi Inc. will post 0.86 EPS for the current fiscal year.

Insider Activity

In other news, Director Theodore G. Schwartz sold 190,349 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $12.87, for a total value of $2,449,791.63. Following the completion of the transaction, the director owned 199,644 shares of the company’s stock, valued at $2,569,418.28. The trade was a 48.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory T. Zeeman sold 50,000 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $13.98, for a total value of $699,000.00. Following the completion of the transaction, the director directly owned 149,644 shares of the company’s stock, valued at approximately $2,092,023.12. This trade represents a 25.04% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,240,080 shares of company stock valued at $15,334,334. Insiders own 72.00% of the company’s stock.

OppFi Company Profile

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.