Livforsakringsbolaget Skandia Omsesidigt Takes Position in Opera Limited (NASDAQ:OPRA)

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Opera Limited (NASDAQ:OPRA) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 67,700 shares of the company’s stock, valued at approximately $1,077,000. Livforsakringsbolaget Skandia Omsesidigt owned about 0.08% of Opera at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of OPRA. Marshall Wace LLP increased its stake in shares of Opera by 99.7% during the 4th quarter. Marshall Wace LLP now owns 1,460,201 shares of the company’s stock valued at $27,656,000 after acquiring an additional 729,001 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Opera during the 4th quarter worth about $10,646,000. Tidal Investments LLC grew its holdings in shares of Opera by 75.6% during the 4th quarter. Tidal Investments LLC now owns 1,176,565 shares of the company’s stock worth $22,284,000 after purchasing an additional 506,425 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Opera during the 4th quarter worth about $7,535,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Opera during the 4th quarter worth about $1,985,000. Institutional investors and hedge funds own 10.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on OPRA shares. The Goldman Sachs Group decreased their target price on Opera from $26.00 to $22.50 and set a “buy” rating for the company in a report on Monday, April 14th. Lake Street Capital boosted their target price on Opera from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Finally, Wall Street Zen upgraded Opera from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $24.90.

Opera Stock Down 0.4%

NASDAQ OPRA opened at $18.91 on Tuesday. The stock has a market cap of $1.67 billion, a PE ratio of 9.60 and a beta of 1.01. Opera Limited has a fifty-two week low of $10.11 and a fifty-two week high of $22.50. The business has a 50 day moving average price of $16.64 and a two-hundred day moving average price of $18.00. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01.

Opera (NASDAQ:OPRA) last released its quarterly earnings results on Monday, April 28th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $142.72 million during the quarter, compared to analysts’ expectations of $132.48 million. Opera had a return on equity of 19.22% and a net margin of 39.22%. During the same quarter in the prior year, the business earned $0.34 EPS. As a group, sell-side analysts predict that Opera Limited will post 0.81 EPS for the current fiscal year.

About Opera

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Norway and internationally. The company offers mobile browser products, such as Opera Mini, Opera browser for Android and iOS, and Opera GX for PCs and Mobile; Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.