Opera (NASDAQ:OPRA) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Opera (NASDAQ:OPRA) from a buy rating to a hold rating in a report published on Saturday morning.

Other research analysts also recently issued reports about the stock. Zacks Research downgraded shares of Opera from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Opera in a report on Wednesday, July 8th. Finally, B. Riley Financial raised their price target on Opera from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.75.

Opera Trading Down 0.5%

Shares of NASDAQ:OPRA opened at $18.86 on Friday. The company has a 50 day moving average of $19.31 and a 200 day moving average of $17.04. The stock has a market cap of $1.69 billion, a P/E ratio of 13.57 and a beta of 1.32. Opera has a 12 month low of $11.71 and a 12 month high of $21.06.

Opera Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, July 7th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, July 7th. This represents a yield of 407.0%. Opera’s dividend payout ratio (DPR) is presently 56.12%.

Insider Transactions at Opera

In other Opera news, CEO Lin Song sold 44,400 shares of Opera stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $18.52, for a total transaction of $822,288.00. Following the completion of the sale, the chief executive officer owned 120,846 shares of the company’s stock, valued at $2,238,067.92. The trade was a 26.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 84.36% of the stock is currently owned by company insiders.

Institutional Trading of Opera

A number of hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC grew its position in Opera by 459.5% during the first quarter. Parallel Advisors LLC now owns 3,038 shares of the company’s stock valued at $43,000 after acquiring an additional 2,495 shares during the last quarter. State of Tennessee Department of Treasury purchased a new stake in shares of Opera in the 2nd quarter valued at $83,000. GAMMA Investing LLC grew its holdings in shares of Opera by 10.4% during the 2nd quarter. GAMMA Investing LLC now owns 6,904 shares of the company’s stock valued at $137,000 after purchasing an additional 652 shares during the last quarter. Ascentis Independent Advisors purchased a new position in Opera in the 1st quarter worth $141,000. Finally, North Star Asset Management Inc. purchased a new position in shares of Opera in the second quarter worth about $238,000. Institutional investors own 10.21% of the company’s stock.

Opera Company Profile

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.