Penn Capital Management Company LLC Purchases 128,776 Shares of Opera Limited Sponsored ADR $OPRA

Key Points

• Penn Capital increased its Opera stake by 16.8% in the third quarter, buying 128,776 shares to hold 894,543 shares, or 1.01% of the company, valued at about $15.8 million.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $24.75; three analysts rate the stock Buy and two rate it Hold.
• Opera shares opened at $15.49, with a 52-week range of $11.71 to $20.78. The company develops web browsers and also operates digital content and advertising services.

Penn Capital Management Company LLC increased its position in Opera Limited Sponsored ADR (NASDAQ:OPRA - Free Report) by 16.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 894,543 shares of the company's stock after purchasing an additional 128,776 shares during the period. Penn Capital Management Company LLC owned 1.01% of Opera worth $15,778,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in OPRA. Integrated Wealth Concepts LLC purchased a new position in Opera during the second quarter valued at $40,000. Parallel Advisors LLC boosted its holdings in shares of Opera by 459.5% during the 1st quarter. Parallel Advisors LLC now owns 3,038 shares of the company's stock valued at $43,000 after buying an additional 2,495 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Opera by 14.5% during the 3rd quarter. Signaturefd LLC now owns 6,445 shares of the company's stock valued at $114,000 after buying an additional 814 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Opera by 10.4% in the 2nd quarter. GAMMA Investing LLC now owns 6,904 shares of the company's stock worth $137,000 after buying an additional 652 shares during the period. Finally, QRG Capital Management Inc. purchased a new stake in shares of Opera in the 2nd quarter worth about $211,000. Institutional investors own 10.21% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OPRA shares. B. Riley Financial lifted their price target on shares of Opera from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Weiss Ratings reissued a "hold (c+)" rating on shares of Opera in a research note on Friday, October 2nd. Finally, Wall Street Zen cut shares of Opera from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.75.

Opera Stock Up 5.2%

OPRA stock opened at $15.49 on Tuesday. Opera Limited Sponsored ADR has a twelve month low of $11.71 and a twelve month high of $20.78. The firm has a market cap of $1.38 billion, a PE ratio of 11.14 and a beta of 1.38. The business has a 50 day moving average of $17.54 and a 200 day moving average of $17.07.

About Opera

Opera Limited is a software company best known for developing web browsers for desktop and mobile devices. Its products include Opera, Opera GX, which is designed for gamers, and Opera Mini, a mobile browser built to use less data and work effectively on slower connections.

The company also offers digital content and advertising services, including Opera News and advertising solutions for businesses seeking to reach users across its products. Its browser offerings serve users in markets around the world.

Opera traces its roots to a browser project started in Norway in 1995.

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