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

Offerpad Solutions Inc. (NYSE:OPAD) CEO Brian Bair acquired 122,920 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average price of $0.79 per share, with a total value of $97,106.80. Following the purchase, the chief executive officer owned 307,454 shares in the company, valued at approximately $242,888.66. This represents a 66.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 bought 125,000 shares of Offerpad Solutions stock. The stock was purchased at an average cost of $0.82 per share, for a total transaction of $102,500.00.

Offerpad Solutions Stock Up 0.6%

OPAD opened at $0.62 on Monday. The firm’s 50-day simple moving average is $0.73 and its 200-day simple moving average is $1.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 1.66. Offerpad Solutions Inc. has a twelve month low of $0.57 and a twelve month high of $6.35. The firm has a market cap of $29.39 million, a price-to-earnings ratio of -0.51 and a beta of 2.42.

Shares of Offerpad Solutions are going 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 closing bell on Monday, June 8th.

Offerpad Solutions (NYSE:OPAD) last posted its earnings results on Thursday, April 30th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.01. Offerpad Solutions had a negative net margin of 8.51% and a negative return on equity of 112.51%. The business had revenue of $80.08 million for the quarter, compared to analyst estimates of $86.25 million. Equities research analysts anticipate that Offerpad Solutions Inc. will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL acquired a new position in Offerpad Solutions during the 3rd quarter worth about $79,000. Engineers Gate Manager LP acquired a new position in Offerpad Solutions during the 4th quarter worth about $27,000. AQR Capital Management LLC lifted its position in Offerpad Solutions by 69.6% during the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock worth $40,000 after buying an additional 9,979 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in Offerpad Solutions during the 4th quarter worth about $32,000. Finally, Barclays PLC lifted its position in Offerpad Solutions by 190.5% during the 4th quarter. Barclays PLC now owns 33,345 shares of the company’s stock worth $40,000 after buying an additional 21,868 shares in the last quarter. 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.