Opera (NASDAQ:OPRA) Trading 5.1% Higher - Here's What Happened

Key Points

• Opera shares rose 5.1% to $20.51 in mid-day trading, with volume 34% above the average. The stock’s average analyst rating is “Moderate Buy,” with a consensus price target of $21.50.
• Opera paid a $0.40-per-share dividend on July 15, although the article’s reported 407.0% yield appears anomalous; its dividend payout ratio was listed at 61.90%.
• CEO Lin Song sold 44,400 shares for approximately $822,000, reducing his direct stake by 26.87%; insiders still own 84.36% of the company, while institutional investors own 10.21%.

Opera Limited Sponsored ADR (NASDAQ:OPRA - Get Free Report) shot up 5.1% during mid-day trading on Tuesday . The company traded as high as $20.55 and last traded at $20.51. Approximately 442,715 shares were traded during trading, an increase of 34% from the average daily volume of 329,735 shares. The stock had previously closed at $19.51.

Analyst Ratings Changes

A number of brokerages recently commented on OPRA. Wall Street Zen raised Opera from a "hold" rating to a "buy" rating in a report on Saturday, June 20th. Zacks Research lowered Opera from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Opera in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $21.50.

Opera Trading Up 5.1%

The company has a market cap of $1.84 billion, a P/E ratio of 16.28 and a beta of 1.32. The company's 50-day moving average price is $18.99 and its two-hundred day moving average price is $16.46.

Opera Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, July 7th were issued a dividend of $0.40 per share. This represents a yield of 407.0%. The ex-dividend date of this dividend was Tuesday, July 7th. Opera's dividend payout ratio (DPR) is currently 61.90%.

Insider Activity at Opera

In other news, CEO Lin Song sold 44,400 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $18.52, for a total value of $822,288.00. Following the completion of the sale, the chief executive officer directly owned 120,846 shares in the company, valued at approximately $2,238,067.92. The trade was a 26.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 84.36% of the company's stock.

Institutional Trading of Opera

Institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its position in Opera by 305.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 91,016 shares of the company's stock valued at $1,289,000 after acquiring an additional 68,549 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Opera by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company's stock worth $2,453,000 after acquiring an additional 30,662 shares in the last quarter. Handelsbanken Fonder AB acquired a new position in shares of Opera during the 4th quarter worth $355,000. Caxton Associates LLP acquired a new position in shares of Opera during the 1st quarter worth $270,000. Finally, Quent Capital LLC acquired a new position in shares of Opera during the 4th quarter worth $212,000. Institutional investors own 10.21% of the company's stock.

About Opera

Opera Limited NASDAQ: OPRA is a global software and internet services company best known for its cross-platform web browsers, including the flagship Opera Browser, Opera Mini for mobile devices and Opera GX designed for the gaming community. The company integrates features such as ad blocking, built-in VPN services and a cryptocurrency wallet into its desktop and mobile applications, aiming to deliver fast, secure and feature-rich browsing experiences to hundreds of millions of users worldwide.

Beyond its consumer-facing browsers, Opera operates Opera News, a personalized content and news aggregation platform with a strong presence in Africa and Asia, and Opera Ads, a digital advertising network that leverages user-behavior data to provide targeted ad placements across devices.

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