Offerpad Solutions (NYSE:OPAD) CEO Buys $97,106.80 in Stock

Offerpad Solutions Inc. (NYSE:OPAD) CEO Brian Bair purchased 122,920 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average price of $0.79 per share, with a total value of $97,106.80. Following the completion of the acquisition, the chief executive officer directly owned 307,454 shares in the company, valued at approximately $242,888.66. The trade was a 66.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brian Bair also recently made the following trade(s):

• On Tuesday, June 2nd, Brian Bair purchased 125,000 shares of Offerpad Solutions stock. The stock was purchased at an average price of $0.82 per share, with a total value of $102,500.00.

Offerpad Solutions Stock Performance

OPAD traded down $0.12 during trading on Friday, reaching $0.62. 1,536,520 shares of the company were exchanged, compared to its average volume of 2,466,813. The stock has a market cap of $29.38 million, a P/E ratio of -0.51 and a beta of 2.42. The firm has a 50 day moving average of $0.73 and a 200 day moving average of $1.07. The company has a current ratio of 1.66, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. Offerpad Solutions Inc. has a 52 week low of $0.57 and a 52 week high of $6.35.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $80.08 million during the quarter, compared to the consensus estimate of $86.25 million. Offerpad Solutions had a negative return on equity of 112.51% and a negative net margin of 8.51%. On average, sell-side analysts forecast that Offerpad Solutions Inc. will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on OPAD. Keefe, Bruyette & Woods lowered their price objective on Offerpad Solutions from $1.00 to $0.85 and set a “market perform” rating for the company in a research note on Thursday, May 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Offerpad Solutions in a research note on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2.62.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL acquired a new position in Offerpad Solutions during the 3rd quarter worth $79,000. Engineers Gate Manager LP acquired a new stake in shares of Offerpad Solutions in the fourth quarter valued at $27,000. AQR Capital Management LLC lifted its holdings in shares of Offerpad Solutions by 69.6% in the first quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock valued at $40,000 after buying an additional 9,979 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Offerpad Solutions in the fourth quarter valued at $32,000. Finally, Barclays PLC lifted its holdings in shares of Offerpad Solutions by 190.5% in the fourth quarter. Barclays PLC now owns 33,345 shares of the company’s stock valued at $40,000 after buying an additional 21,868 shares during the period. Institutional investors and hedge funds own 39.44% of the company’s stock.

About Offerpad Solutions

Offerpad Solutions, Inc, listed on the NYSE under the ticker OPAD, is a technology-driven real estate platform specializing in the direct purchase, renovation and resale of single-family homes. Since its founding in 2015 and headquartered in Chandler, Arizona, the company leverages proprietary data analytics and algorithms to deliver fast, all-cash offers and flexible closing timelines to homeowners in select markets across the United States.

The company’s core services include its Instant Offer program for home acquisitions, in-house renovation and repair services to prepare properties for resale, and a suite of ancillary offerings such as title and escrow, home trade-in solutions and mortgage origination through strategic partnerships.