Maxi Investments CY Ltd Increases Holdings in Opera Limited Sponsored ADR (NASDAQ:OPRA)

Key Points

• Maxi Investments CY Ltd increased its stake in Opera Limited by 270.5%, acquiring an additional 93,682 shares, bringing its total to 128,309 shares valued at approximately $2,045,000.
• Opera Limited recently announced a semi-annual dividend of $0.40 per share, translating to a dividend yield of 410.0%.
• The stock has a market capitalization of $1.45 billion and strong analyst ratings, with a consensus rating of "Buy" and an average price target of $24.90.

Maxi Investments CY Ltd increased its holdings in Opera Limited Sponsored ADR (NASDAQ:OPRA - Free Report) by 270.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,309 shares of the company's stock after purchasing an additional 93,682 shares during the quarter. Maxi Investments CY Ltd owned approximately 0.15% of Opera worth $2,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Marshall Wace LLP boosted its position in Opera by 99.7% during the 4th 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 in the last quarter. Tidal Investments LLC lifted its holdings in shares of Opera by 75.6% during 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 last quarter. Portolan Capital Management LLC lifted its holdings in shares of Opera by 5.1% during the fourth quarter. Portolan Capital Management LLC now owns 748,349 shares of the company's stock valued at $14,174,000 after purchasing an additional 36,529 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Opera during the fourth quarter valued at approximately $10,646,000. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Opera during the fourth quarter valued at approximately $7,535,000. 10.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OPRA. The Goldman Sachs Group lowered their target price on shares of Opera from $26.00 to $22.50 and set a "buy" rating for the company in a report on Monday, April 14th. Wall Street Zen upgraded shares of Opera from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Wedbush reiterated an "outperform" rating on shares of Opera in a report on Tuesday, July 8th. Finally, Lake Street Capital lifted their target price on shares of Opera from $23.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Opera presently has an average rating of "Buy" and an average price target of $24.90.

Opera Stock Up 1.6%

NASDAQ OPRA traded up $0.26 during mid-day trading on Wednesday, reaching $16.43. The stock had a trading volume of 455,313 shares, compared to its average volume of 543,567. Opera Limited Sponsored ADR has a 1 year low of $11.05 and a 1 year high of $22.50. The stock has a market cap of $1.47 billion, a PE ratio of 17.48 and a beta of 0.96. The company has a fifty day moving average price of $18.22 and a 200 day moving average price of $17.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.17 and a quick ratio of 2.17.

Opera Announces Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, July 8th. This represents a yield of 410.0%. Opera's payout ratio is currently 82.98%.

Opera Company Profile

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.