CHICAGO—Jocelyn Moore, a director at OppFi Inc. (NYSE:OPFI), recently sold a significant portion of her holdings in the company. According to a recent SEC filing, Moore sold 23,149 shares of OppFi Class A Common Stock on November 11, 2024. The shares were sold at a weighted average price of $6.6963 per share, resulting in a total transaction value of approximately $155,012.
Following this sale, Moore retains ownership of 99,072 shares in the company. This transaction is part of her ongoing management of her equity holdings in OppFi, a financial services company based in Chicago.
Earlier in the year, Moore was awarded 49,328 restricted stock units under OppFi's 2021 Equity Incentive Plan. These units, which represent a right to receive an equivalent number of shares, will vest based on continued service and other conditions outlined in the plan.
In other recent news, OppFi reported a record total revenue of $136.6 million in its third-quarter earnings call, marking a significant increase from the previous year. The company's net income also saw a notable rise, reaching $32.1 million. These recent developments indicate substantial growth for OppFi, which has raised its full-year adjusted net income guidance for 2024. The company also highlighted its strategic direction, including the exploration of potential mergers and acquisitions. Specifically, OppFi has made an investment in Bitty for small business financing. Despite the recent interest cost reduction, the company remains cautious about predicting future Federal Reserve actions. Executives, however, expressed confidence in the company's credit performance and cost management, supporting the raised guidance for profitability and revenue. Moving forward, OppFi is focused on enhancing its digital financial services platform through operational efficiencies and AI integration.
InvestingPro Insights
Recent data from InvestingPro sheds additional light on OppFi's financial performance and market position, providing context to Jocelyn Moore's recent stock sale. The company has shown strong growth, with revenue increasing by 23.85% over the last twelve months to $260.66 million. This growth trajectory aligns with an InvestingPro Tip indicating that net income is expected to grow this year.
OppFi's stock has demonstrated remarkable performance, with a 170.74% total return over the past year. This impressive gain is reflected in another InvestingPro Tip, which notes the company's high return over the last year. The stock's current price of $7.14 is 94.29% of its 52-week high, suggesting continued investor confidence.
While Moore's sale might raise questions, it's worth noting that OppFi's financial health appears robust. The company boasts a gross profit margin of 100% and an operating income margin of 31.27%, indicating efficient operations. Additionally, an InvestingPro Tip reveals that OppFi's liquid assets exceed short-term obligations, pointing to a solid financial position.
Investors seeking a more comprehensive analysis can access 11 additional InvestingPro Tips for OppFi, offering deeper insights into the company's financial health and market performance.
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