Livforsakringsbolaget Skandia Omsesidigt Acquires Shares of 67,700 Opera Limited (NASDAQ:OPRA)

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Opera Limited (NASDAQ:OPRA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 67,700 shares of the company's stock, valued at approximately $1,077,000. Livforsakringsbolaget Skandia Omsesidigt owned 0.08% of Opera at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Marshall Wace LLP lifted its holdings in Opera by 99.7% in the fourth quarter. Marshall Wace LLP now owns 1,460,201 shares of the company's stock valued at $27,656,000 after acquiring an additional 729,001 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Opera in the fourth quarter valued at $10,646,000. Tidal Investments LLC raised its position in Opera by 75.6% in the fourth quarter. Tidal Investments LLC now owns 1,176,565 shares of the company's stock valued at $22,284,000 after purchasing an additional 506,425 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Opera in the 4th quarter valued at $7,535,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Opera during the 4th quarter worth $1,985,000. Institutional investors and hedge funds own 10.21% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Opera from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Lake Street Capital lifted their price target 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. Finally, The Goldman Sachs Group reduced their price target on shares of Opera from $26.00 to $22.50 and set a "buy" rating on the stock in a research note on Monday, April 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Opera presently has an average rating of "Buy" and a consensus price target of $24.90.

Opera Trading Down 2.9%

Shares of OPRA stock traded down $0.56 on Friday, hitting $18.43. The stock had a trading volume of 323,766 shares, compared to its average volume of 512,630. The company's 50 day moving average price is $17.01 and its 200-day moving average price is $18.00. Opera Limited has a 1 year low of $10.11 and a 1 year high of $22.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market capitalization of $1.65 billion, a P/E ratio of 9.36 and a beta of 1.01.

Opera (NASDAQ:OPRA - Get Free Report) last released its earnings results on Monday, April 28th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. The company had revenue of $142.72 million during the quarter, compared to the consensus estimate of $132.48 million. Opera had a return on equity of 19.22% and a net margin of 39.22%. During the same period in the previous year, the company posted $0.34 EPS. Analysts anticipate that Opera Limited will post 0.81 earnings per share for the current year.

Opera Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th will be paid a dividend of $0.40 per share. This represents a yield of 4.1%. The ex-dividend date is Tuesday, July 8th. Opera's payout ratio is currently 85.11%.

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.