Virtu Financial LLC Makes New Investment in Opera Limited Sponsored ADR (NASDAQ:OPRA)

Key Points

• Virtu Financial LLC acquired a new position in Opera Limited Sponsored ADR, purchasing 31,626 shares valued at approximately $504,000 in the first quarter.
• Opera recently declared a semi-annual dividend of $0.40, leading to an impressive dividend yield of 410.0% based on the payout ratio of 82.98%.
• Equities analysts have upgraded Opera's stock rating, with a consensus rating of "Buy" and an average target price of $24.90.

Virtu Financial LLC acquired a new position in Opera Limited Sponsored ADR (NASDAQ:OPRA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,626 shares of the company's stock, valued at approximately $504,000.

Other hedge funds have also made changes to their positions in the company. Marshall Wace LLP increased its stake in Opera by 99.7% during the 4th quarter. Marshall Wace LLP now owns 1,460,201 shares of the company's stock worth $27,656,000 after buying an additional 729,001 shares during the period. Tidal Investments LLC lifted its position 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 worth $22,284,000 after purchasing an additional 506,425 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in Opera during the fourth quarter valued at approximately $10,646,000. Lord Abbett & CO. LLC acquired a new stake in Opera during the fourth quarter valued at approximately $7,535,000. Finally, Cubist Systematic Strategies LLC raised its stake in Opera by 24.9% during the fourth quarter. Cubist Systematic Strategies LLC now owns 257,024 shares of the company's stock valued at $4,868,000 after buying an additional 51,245 shares in the last quarter. Hedge funds and other institutional investors own 10.21% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on OPRA shares. Wall Street Zen upgraded Opera from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Wedbush reaffirmed an "outperform" rating on shares of Opera in a report on Tuesday, July 8th. Finally, 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 report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Opera presently has a consensus rating of "Buy" and a consensus price target of $24.90.

Opera Stock Performance

NASDAQ:OPRA traded up $0.92 during mid-day trading on Friday, hitting $16.32. The stock had a trading volume of 1,471,587 shares, compared to its average volume of 500,831. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 17.18 and a beta of 0.96. The company has a 50 day simple moving average of $17.91 and a 200-day simple moving average of $17.68. Opera Limited Sponsored ADR has a 52 week low of $12.56 and a 52 week high of $22.50. 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 Announces Dividend

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

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.