S&P 500 rises as health care, tech gain to overshadow Fed independence concerns
David Vennettilli, a director at OppFi Inc. (NYSE:OPFI), recently executed significant stock transactions, according to a regulatory filing. The transactions come as OppFi shows strong momentum, with the stock delivering an impressive 282% return over the past year and maintaining a "GREAT" overall financial health score according to InvestingPro analysis. On March 7, 2025, Vennettilli sold 43,238 shares of OppFi’s Class A Common Stock at a weighted average price of $9.4492, generating proceeds of approximately $408,755. This sale was followed by another transaction on March 11, 2025, where he sold an additional 30,762 shares at a weighted average price of $9.0947, amounting to approximately $279,580.
These transactions collectively totaled $688,335. Following these sales, Vennettilli holds no shares in the Class A Common Stock through the DAV 513 Revocable Trust, though he maintains an indirect interest in other shares through various trusts.
In other recent news, OppFi Inc. reported its fourth-quarter 2024 earnings, significantly surpassing market expectations. The company achieved an earnings per share (EPS) of $0.23, well above the forecasted $0.15, and revenue reached $135.7 million, exceeding the anticipated $134.98 million. The strong financial performance was attributed to innovative strategies and effective cost management. Additionally, OppFi’s net originations grew by 11.3% to $213.7 million, and adjusted net income increased by 141% to $20.3 million. For the full year 2024, OppFi’s revenue was $526 million, marking a 3.3% increase year-over-year, with adjusted net income doubling to $82.7 million. Looking ahead, the company projects total revenue for 2025 to be between $563 million and $594 million, with adjusted net income expected to range from $95 million to $97 million. The company also highlighted the successful launch of Model 6, which enhanced credit evaluation processes. These developments underscore OppFi’s strong market position and strategic growth initiatives.
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