Redwood Wealth Management Group LLC Sells 1,800 Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA)

Redwood Wealth Management Group LLC trimmed its position in Opera Limited Sponsored ADR (NASDAQ:OPRA) by 6.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,915 shares of the company’s stock after selling 1,800 shares during the period. Redwood Wealth Management Group LLC’s holdings in Opera were worth $445,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE raised its holdings in Opera by 2,065.1% during the fourth quarter. US Bancorp DE now owns 1,364 shares of the company’s stock worth $26,000 after buying an additional 1,301 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Opera by 74.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company’s stock worth $30,000 after acquiring an additional 674 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Opera by 229.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,222 shares of the company’s stock worth $42,000 after acquiring an additional 1,548 shares during the last quarter. Point72 Hong Kong Ltd lifted its position in Opera by 457.1% in the 4th quarter. Point72 Hong Kong Ltd now owns 3,900 shares of the company’s stock valued at $74,000 after acquiring an additional 3,200 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Opera during the 4th quarter valued at about $81,000. 10.21% of the stock is owned by institutional investors and hedge funds.

Opera Price Performance

Opera stock opened at $18.58 on Thursday. Opera Limited Sponsored ADR has a 52 week low of $10.11 and a 52 week high of $22.50. The company’s 50 day moving average price is $17.21 and its two-hundred day moving average price is $17.97. The stock has a market cap of $1.66 billion, a P/E ratio of 19.77 and a beta of 1.01. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.01.

Opera (NASDAQ:OPRA) last issued its quarterly 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. Opera had a return on equity of 9.21% and a net margin of 16.15%. The company had revenue of $142.72 million during the quarter, compared to the consensus estimate of $132.48 million. During the same period last year, the business posted $0.34 earnings per share. On average, equities analysts predict that Opera Limited Sponsored ADR will post 0.81 earnings per share for the current year.

Opera Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th will be paid a dividend of $0.40 per share. This represents a dividend yield of 4.1%. The ex-dividend date is Tuesday, July 8th. Opera’s payout ratio is 82.98%.

Analysts Set New Price Targets

Several analysts have recently commented on OPRA shares. 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 note on Monday, April 14th. Lake Street Capital upped their price target on Opera from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Finally, Wall Street Zen upgraded Opera from a “hold” rating to a “buy” rating in a research note on Saturday, May 24th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $24.90.

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.