Research Analysts Issue Forecasts for OppFi Inc.’s Q3 2023 Earnings (NYSE:OPFI)

Posted by Defense World Staff on Aug 12th, 2023

OppFi Inc. (NYSE:OPFI – Free Report) – Equities researchers at Northland Capmk decreased their Q3 2023 earnings per share (EPS) estimates for OppFi in a note issued to investors on Thursday, August 10th. Northland Capmk analyst M. Grondahl now forecasts that the company will earn $0.04 per share for the quarter, down from their prior estimate of $0.09. The consensus estimate for OppFi’s current full-year earnings is $0.27 per share. Northland Capmk also issued estimates for OppFi’s Q4 2023 earnings at $0.09 EPS.

OppFi (NYSE:OPFI – Get Free Report) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. OppFi had a return on equity of 11.46% and a net margin of 1.02%. The firm had revenue of $122.49 million for the quarter, compared to analysts’ expectations of $116.17 million.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $3.50 price objective on shares of OppFi in a report on Friday.

Get Our Latest Analysis on OppFi

OppFi Stock Performance

OPFI opened at $2.37 on Friday. OppFi has a one year low of $1.70 and a one year high of $3.02. The stock has a market capitalization of $260.20 million, a PE ratio of -23.70 and a beta of 0.71. The business’s 50 day moving average price is $2.10 and its 200 day moving average price is $2.09.

Institutional Trading of OppFi

A number of large investors have recently modified their holdings of the stock. Arete Wealth Advisors LLC purchased a new position in OppFi in the fourth quarter valued at $42,300,000,000. BlackRock Inc. increased its holdings in OppFi by 15.3% in the second quarter. BlackRock Inc. now owns 748,898 shares of the company’s stock valued at $1,528,000 after buying an additional 99,366 shares during the last quarter. State Street Corp grew 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 worth $447,000 after purchasing an additional 91,265 shares during the last quarter. Northern Trust Corp grew 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 worth $356,000 after purchasing an additional 85,276 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of OppFi by 254.7% during the second quarter. Renaissance Technologies LLC now owns 98,600 shares of the company’s stock worth $324,000 after purchasing an additional 70,800 shares during the last quarter. Hedge funds and other institutional investors own 3.23% of the company’s stock.

Insiders Place Their Bets

In other OppFi news, Director Jocelyn Moore sold 21,028 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $1.95, for a total transaction of $41,004.60. Following the transaction, the director now directly owns 105,381 shares in the company, valued at $205,492.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 65,364 shares of company stock worth $138,930 over the last ninety days. Corporate insiders own 87.20% of the company’s stock.

About OppFi

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OppFi Inc operates a financial technology platform that allows banks to offer lending products. Its platform facilitates the OppLoans, an installment loan product; SalaryTap, a payroll deduction secured installment loan product; and OppFi Card, a credit card product. The company was founded in 2012 and is headquartered in Chicago, Illinois.