Investors Purchase High Volume of Opera Put Options (NASDAQ:OPRA)

Opera Limited Sponsored ADR (NASDAQ:OPRA) was the target of unusually large options trading on Tuesday. Investors bought 7,268 put options on the company. This is an increase of 230% compared to the typical volume of 2,205 put options.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its stake in Opera by 305.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 91,016 shares of the company’s stock valued at $1,289,000 after purchasing an additional 68,549 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Opera by 24.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company’s stock worth $2,453,000 after purchasing an additional 30,662 shares during the period. Handelsbanken Fonder AB purchased a new stake in shares of Opera during the 4th quarter worth about $355,000. Caxton Associates LLP purchased a new stake in shares of Opera during the 1st quarter worth about $270,000. Finally, Quent Capital LLC acquired a new position in Opera during the 4th quarter worth approximately $212,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Opera Stock Down 1.1%

OPRA traded down $0.22 on Tuesday, reaching $19.10. The company’s stock had a trading volume of 145,737 shares, compared to its average volume of 592,489. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 15.14 and a beta of 1.30. Opera has a fifty-two week low of $11.71 and a fifty-two week high of $21.06. The stock has a 50 day moving average of $17.45 and a two-hundred day moving average of $15.14.

Opera (NASDAQ:OPRA) last announced its earnings results on Saturday, February 14th. The company reported $0.30 EPS for the quarter. Opera had a net margin of 17.72% and a return on equity of 8.54%. The business had revenue of $176.65 million for the quarter. As a group, analysts anticipate that Opera will post 1.12 earnings per share for the current fiscal year.

Opera Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.40 per share. This represents a dividend yield of 441.0%. The ex-dividend date is Tuesday, July 7th. Opera’s payout ratio is presently 61.90%.

Wall Street Analysts Forecast Growth

OPRA has been the subject of a number of analyst reports. Wall Street Zen downgraded Opera from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. TD Cowen reiterated a “buy” rating on shares of Opera in a research note on Friday, March 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Opera in a research note on Friday, March 27th. Finally, Zacks Research downgraded shares of Opera from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Opera presently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

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.