David Vennettilli, a director at OppFi Inc. (NYSE:OPFI), recently sold 22,301 shares of the company's Class A common stock. The company, currently valued at $665 million, has demonstrated remarkable performance with a 103% return over the past year according to InvestingPro data. The transaction, which took place on December 2, 2024, was executed at a weighted average price of $7.6817 per share, resulting in a total sale value of $171,309. Following this sale, Vennettilli retains ownership of 121,524 shares in the company. The shares were sold in multiple transactions with prices ranging from $7.65 to $7.75. InvestingPro analysis shows the company maintains excellent financial health with a strong current ratio of 7.64, indicating robust liquidity. Discover comprehensive insider trading patterns and 8 additional key insights with InvestingPro's detailed research report.
In other recent news, OppFi has reported a significant increase in its third-quarter earnings, marking a record total revenue of $136.6 million. The net income also saw a substantial rise, reaching $32.1 million. These recent developments indicate a robust performance from OppFi, with executives displaying confidence in the company's strategic direction. The company has raised its full-year adjusted net income guidance for 2024, further evidencing this optimism.
Additionally, OppFi is exploring strategic mergers and acquisitions, with a recent investment made in Bitty for small business financing. The company anticipates continued growth into the first quarter of 2025, despite seasonal demand fluctuations, and is enhancing its digital financial services platform through operational efficiencies and AI integration.
In its pursuit of growth, OppFi is focused on identifying supply-demand imbalances in large markets to become a leading digital alternative financial services platform. The company remains cautious about predicting future Federal Reserve actions, despite the recent interest cost reduction.
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