Man Group plc Takes $544,000 Position in Opera Limited (NASDAQ:OPRA)

Man Group plc acquired a new position in shares of Opera Limited (NASDAQ:OPRA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 28,737 shares of the company's stock, valued at approximately $544,000.

Several other large investors also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its holdings in shares of Opera by 99.7% during the fourth quarter. Marshall Wace LLP now owns 1,460,201 shares of the company's stock worth $27,656,000 after purchasing an additional 729,001 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of Opera during the 4th quarter valued at $10,646,000. Lord Abbett & CO. LLC purchased a new position in shares of Opera during the 4th quarter valued at $7,535,000. Bank of New York Mellon Corp acquired a new position in shares of Opera in the fourth quarter worth $1,985,000. Finally, Raymond James Financial Inc. acquired a new stake in Opera during the fourth quarter valued at $1,634,000. 10.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Piper Sandler assumed coverage on Opera in a report on Wednesday, February 5th. They set an "overweight" rating and a $25.00 price target for the company. Wall Street Zen upgraded shares of Opera from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. The Goldman Sachs Group dropped their price target on Opera from $26.00 to $22.50 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Lake Street Capital upped their price objective on shares of Opera from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $24.90.

Opera Trading Up 0.5%

OPRA stock traded up $0.09 during midday trading on Friday, hitting $18.14. 69,894 shares of the company's stock were exchanged, compared to its average volume of 560,840. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. The stock's fifty day moving average price is $16.41 and its 200-day moving average price is $18.04. Opera Limited has a one year low of $10.11 and a one year high of $22.50. The company has a market cap of $1.61 billion, a PE ratio of 9.21 and a beta of 1.01.

Opera (NASDAQ:OPRA - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.01. The business had revenue of $142.72 million for the quarter, compared to analyst estimates of $132.48 million. Opera had a net margin of 39.22% and a return on equity of 19.22%. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Research analysts predict that Opera Limited will post 0.81 earnings per share for the current fiscal year.

About Opera

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Norway and internationally. The company offers mobile browser products, such as Opera Mini, Opera browser for Android and iOS, and Opera GX for PCs and Mobile; Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.