Spire Wealth Management Purchases 37,010 Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA)

Spire Wealth Management boosted its position in Opera Limited Sponsored ADR (NASDAQ:OPRA - Free Report) by 4,112.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,910 shares of the company's stock after buying an additional 37,010 shares during the quarter. Spire Wealth Management's holdings in Opera were worth $604,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vident Advisory LLC boosted its stake in Opera by 11.0% in the fourth quarter. Vident Advisory LLC now owns 16,056 shares of the company's stock worth $304,000 after purchasing an additional 1,596 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Opera by 64.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 121,069 shares of the company's stock valued at $2,293,000 after buying an additional 47,652 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Opera in the 4th quarter valued at about $201,000. Raymond James Financial Inc. acquired a new position in Opera during the 4th quarter worth approximately $1,634,000. Finally, GAMMA Investing LLC increased its stake in Opera by 1,172.0% in the 1st quarter. GAMMA Investing LLC now owns 43,628 shares of the company's stock valued at $695,000 after buying an additional 40,198 shares during the last quarter. Institutional investors and hedge funds own 10.21% of the company's stock.

Opera Price Performance

Shares of OPRA stock traded down $0.19 during trading on Wednesday, hitting $20.15. The company had a trading volume of 781,022 shares, compared to its average volume of 499,188. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average is $17.93 and its two-hundred day moving average is $17.91. Opera Limited Sponsored ADR has a 52 week low of $10.11 and a 52 week high of $22.50. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 21.43 and a beta of 0.98.

Opera (NASDAQ:OPRA - Get Free Report) last announced its quarterly earnings data 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 firm 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 9.21% and a net margin of 16.15%. During the same quarter in the previous year, the company posted $0.34 earnings per share. As a group, analysts predict that Opera Limited Sponsored ADR will post 0.81 EPS for the current fiscal year.

Opera Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th will be issued a dividend of $0.40 per share. This represents a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, July 8th. Opera's dividend payout ratio is currently 82.98%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wall Street Zen raised Opera from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. The Goldman Sachs Group dropped their price objective on Opera from $26.00 to $22.50 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Lake Street Capital increased their price target on Opera from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $24.90.

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.