Spire Wealth Management Raises Stake in Opera Limited Sponsored ADR (NASDAQ:OPRA)

Spire Wealth Management increased its holdings in shares of Opera Limited Sponsored ADR (NASDAQ:OPRA - Free Report) by 4,112.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,910 shares of the company's stock after purchasing 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.

A number of other institutional investors have also added to or reduced their stakes in OPRA. Marshall Wace LLP increased its stake in Opera by 99.7% in the 4th quarter. Marshall Wace LLP now owns 1,460,201 shares of the company's stock worth $27,656,000 after acquiring an additional 729,001 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Opera during the 4th quarter worth approximately $10,646,000. Tidal Investments LLC boosted its stake 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 period. Lord Abbett & CO. LLC bought a new position in Opera in the 4th quarter worth about $7,535,000. Finally, Bank of New York Mellon Corp bought a new position in Opera in the fourth quarter worth approximately $1,985,000. 10.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OPRA. Wall Street Zen raised shares of Opera from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. 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 report on Tuesday, April 29th. Finally, The Goldman Sachs Group reduced their target price on Opera from $26.00 to $22.50 and set a "buy" rating for the company in a research note on Monday, April 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $24.90.

Opera Trading Down 1.1%

Shares of NASDAQ:OPRA opened at $18.47 on Friday. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01. Opera Limited Sponsored ADR has a 12-month low of $10.11 and a 12-month high of $22.50. The business has a 50 day moving average of $17.71 and a two-hundred day moving average of $17.91. The company has a market capitalization of $1.65 billion, a PE ratio of 19.65 and a beta of 1.01.

Opera (NASDAQ:OPRA - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. The firm had revenue of $142.72 million for the quarter, compared to analysts' expectations of $132.48 million. Opera had a return on equity of 9.21% and a net margin of 16.15%. During the same period last year, the firm earned $0.34 EPS. As a group, analysts forecast that Opera Limited Sponsored ADR will post 0.81 EPS for the current year.

Opera Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a dividend yield of 4.1%. Opera's dividend payout ratio (DPR) is presently 82.98%.

Opera 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.

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