Insider Buying: Offerpad Solutions (NYSE:OPAD) CEO Buys $102,500.00 in Stock

Offerpad Solutions Inc. (NYSE:OPAD) CEO Brian Bair acquired 125,000 shares of Offerpad Solutions stock in a transaction on Tuesday, June 2nd. The shares were bought at an average price of $0.82 per share, with a total value of $102,500.00. Following the completion of the transaction, the chief executive officer directly owned 184,534 shares of the company’s stock, valued at $151,317.88. This trade represents a 209.96% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, June 3rd, Brian Bair acquired 122,920 shares of Offerpad Solutions stock. The shares were bought at an average price of $0.79 per share, with a total value of $97,106.80.

Offerpad Solutions Price Performance

Shares of NYSE OPAD opened at $0.62 on Friday. The firm has a 50-day simple moving average of $0.73 and a 200-day simple moving average of $1.06. The stock has a market capitalization of $29.39 million, a price-to-earnings ratio of -0.51 and a beta of 2.42. The company has a quick ratio of 0.69, a current ratio of 1.66 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.

Shares of Offerpad Solutions are set to reverse split on the morning of Tuesday, June 9th. The 1-10 reverse split was announced on Thursday, June 4th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, June 8th.

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

Institutional Investors Weigh In On Offerpad Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of OPAD. Engineers Gate Manager LP acquired a new stake in Offerpad Solutions during the fourth quarter worth about $27,000. Goldman Sachs Group Inc. acquired a new stake in Offerpad Solutions during the fourth quarter worth about $32,000. Barclays PLC increased its position in Offerpad Solutions by 190.5% during the fourth quarter. Barclays PLC now owns 33,345 shares of the company’s stock worth $40,000 after purchasing an additional 21,868 shares during the last quarter. AQR Capital Management LLC increased its position in Offerpad Solutions by 69.6% during the first quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock worth $40,000 after purchasing an additional 9,979 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in Offerpad Solutions during the second quarter worth about $44,000. 39.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.