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Theodore G. Schwartz, a director and significant shareholder of OppFi Inc. (NYSE:OPFI), executed a series of stock transactions as reported in a recent SEC filing. On March 26 and 27, Schwartz sold a total of 250,442 shares of OppFi’s Class A Common Stock, yielding approximately $2.42 million. The shares were sold at weighted average prices ranging from $9.315 to $10.0115. The transactions come as OppFi, currently valued at $820 million, trades near its InvestingPro Fair Value, with the stock delivering an impressive 289% return over the past year.
The transactions were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for selling stocks. These sales followed a series of conversions where Schwartz exchanged Class V Common Stock for Class A Common Stock. The Class V shares, which carry voting rights but no economic interest, were canceled as part of the conversion process. The company maintains strong financial health with an overall score of "GREAT" according to InvestingPro metrics, supported by 22% revenue growth and robust liquidity ratios.
Following these transactions, Schwartz’s holdings in OppFi are managed through various entities, including LTHS Capital Group LP and LTHS Revocable Trust. The sales were part of a strategic exercise of exchange rights, which allowed Schwartz to convert his economic interest in Opportunity (SO:FTCE11B) Financial, LLC into marketable Class A shares of OppFi. For deeper insights into OppFi’s valuation metrics and additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, OppFi Inc. reported its fourth-quarter 2024 earnings, surpassing market forecasts. The company achieved an earnings per share (EPS) of $0.23, exceeding the anticipated $0.15, and reported revenue of $135.7 million, which also beat expectations of $134.98 million. These results highlight OppFi’s effective strategies in managing costs and implementing strategic innovations. The company’s net originations increased by 11.3% year-over-year to $213.7 million, while adjusted net income surged by 141% to $20.3 million. For the full year 2024, OppFi reported revenue of $526 million, marking a 3.3% increase from the previous year, and adjusted net income of $82.7 million, up 99% year-over-year. Looking ahead to 2025, OppFi projects total revenue between $563 million and $594 million and expects adjusted net income to range from $95 million to $97 million. The company also anticipates an EPS of $1.06 to $1.07 for the year. These recent developments reflect OppFi’s continued growth and strategic focus on enhancing its credit evaluation processes.
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