David Vennettilli, a director at OppFi Inc. (NYSE:OPFI), recently sold 100,000 shares of Class A Common Stock, according to a recent SEC filing. The shares were sold at an average price of $6.4484, totaling approximately $644,840. This transaction was part of a series of moves by Vennettilli, who also acquired 100,000 shares of Class A Common Stock through an exercise of exchange rights, while 100,000 shares of Class V Common Stock were canceled in connection with this exercise. Following these transactions, Vennettilli holds no remaining shares of Class A Common Stock in the DAV 513 Revocable Trust.
In other recent news, OppFi reported a record total revenue of $136.6 million in its third-quarter earnings call, marking a significant year-over-year increase. The company’s net income also saw a substantial rise, reaching $32.1 million. These recent developments also include a boost in full-year adjusted net income guidance for 2024, demonstrating the company’s positive outlook for the future.
In addition to these financial highlights, OppFi executives expressed interest in potential mergers and acquisitions, with a recent investment made in Bitty for small business financing. This strategic move aligns with the company’s vision of becoming a leading digital alternative financial services platform.
The company anticipates continued growth into the first quarter of 2025, despite seasonal demand fluctuations. This growth is expected to be driven by operational efficiencies and the integration of AI into its digital financial services platform. Despite the recent interest cost reduction, OppFi remains cautious about predicting future Federal Reserve actions. However, the company’s executives remain confident in OppFi’s credit performance and cost management, which has supported the raised guidance for profitability and revenue.
InvestingPro Insights
The recent insider transaction at OppFi Inc. (NYSE:OPFI) comes amid a period of significant growth for the company. According to InvestingPro data, OPFI has demonstrated impressive performance with a 170.74% price total return over the past year. This aligns with an InvestingPro Tip indicating that the stock has shown a “High return over the last year.”
The company’s financial health appears robust, with revenue growth of 23.85% in the last twelve months as of Q3 2024, and a strong operating income margin of 31.27%. These metrics suggest that OppFi is effectively converting its growth into profitability, which may have contributed to the stock’s recent performance.
Another relevant InvestingPro Tip notes that OPFI’s “Net income is expected to grow this year.” This positive outlook, combined with the company’s current profitability (as indicated by the tip “Profitable over the last twelve months”), could explain why the stock is trading at a high Price / Book multiple of 17.41.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for OPFI, providing a deeper understanding of the company’s financial position and market performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
