Lord Abbett & CO. LLC Acquires Shares of 397,853 Opera Limited (NASDAQ:OPRA)

Lord Abbett & CO. LLC acquired a new position in Opera Limited (NASDAQ:OPRA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 397,853 shares of the company's stock, valued at approximately $7,535,000. Lord Abbett & CO. LLC owned 0.45% of Opera 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 lifted its holdings in Opera by 99.7% during the fourth 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 stake in shares of Opera by 62.4% during the 3rd quarter. Tidal Investments LLC now owns 670,140 shares of the company's stock worth $10,354,000 after purchasing an additional 257,469 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Opera during the fourth quarter valued at about $1,985,000. Raymond James Financial Inc. purchased a new position in Opera in the fourth quarter valued at about $1,634,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Opera by 7.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 931,594 shares of the company's stock worth $17,644,000 after purchasing an additional 61,051 shares in the last quarter. Hedge funds and other institutional investors own 10.21% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on OPRA shares. Piper Sandler began coverage on shares of Opera in a research report on Wednesday, February 5th. They issued an "overweight" rating and a $25.00 price objective on the stock. Lake Street Capital upped their price target on Opera from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, The Goldman Sachs Group lowered 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. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $24.90.

Opera Stock Performance

OPRA stock traded up $0.11 during midday trading on Thursday, reaching $17.18. The stock had a trading volume of 848,768 shares, compared to its average volume of 570,063. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a fifty day simple moving average of $16.44 and a two-hundred day simple moving average of $17.90. The stock has a market cap of $1.52 billion, a PE ratio of 8.72 and a beta of 0.96. Opera Limited has a 52-week low of $10.11 and a 52-week high of $22.50.

Opera (NASDAQ:OPRA - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. The company had revenue of $142.72 million during the quarter, compared to the consensus estimate of $132.48 million. Opera had a net margin of 39.22% and a return on equity of 19.22%. During the same period in the previous year, the firm posted $0.34 earnings per share. As a group, equities research analysts anticipate that Opera Limited will post 0.81 EPS for the current year.

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.