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

Opera Limited Sponsored ADR (NASDAQ:OPRA) was the target of some unusual options trading activity on Monday. Stock investors acquired 18,311 call options on the stock. This is an increase of approximately 806% compared to the average volume of 2,020 call options.

Insiders Place Their Bets

In other Opera 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 transaction of $822,288.00. Following the transaction, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 84.36% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Harvey Capital Management Inc. lifted its stake in shares of Opera by 0.9% in the 4th quarter. Harvey Capital Management Inc. now owns 100,950 shares of the company’s stock worth $1,429,000 after acquiring an additional 925 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Opera in the third quarter worth about $42,000. Parallel Advisors LLC boosted its stake in Opera by 459.5% in the 1st quarter. Parallel Advisors LLC now owns 3,038 shares of the company’s stock worth $43,000 after purchasing an additional 2,495 shares during the period. State of Tennessee Department of Treasury acquired a new stake in shares of Opera in the second quarter worth $83,000. Finally, IFP Advisors Inc increased its holdings in shares of Opera by 127.0% in the 3rd quarter. IFP Advisors Inc now owns 11,350 shares of the company’s stock valued at $234,000 after purchasing an additional 6,350 shares during the period. 10.21% of the stock is currently owned by institutional investors.

Opera Trading Up 3.4%

NASDAQ:OPRA traded up $0.67 on Monday, reaching $20.57. The stock had a trading volume of 209,129 shares, compared to its average volume of 572,510. The stock has a market cap of $1.84 billion, a P/E ratio of 16.27 and a beta of 1.31. The company has a 50-day moving average of $18.30 and a 200 day moving average of $15.66. Opera has a 12-month low of $11.71 and a 12-month high of $21.06.

Opera Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OPRA. TD Cowen reaffirmed 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 report on Friday, March 27th. Wall Street Zen raised shares of Opera from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, Zacks Research downgraded shares of Opera from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.