Opera (NASDAQ:OPRA) Shares Up 7.5% – Time to Buy?

Opera Limited Sponsored ADR (NASDAQ:OPRA) was up 7.5% during mid-day trading on Tuesday . The company traded as high as $20.21 and last traded at $20.2160. 488,575 shares changed hands during trading, a decline of 13% from the average daily volume of 561,785 shares. The stock had previously closed at $18.80.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OPRA. Zacks Research lowered shares of Opera from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Opera in a research report on Wednesday, July 8th. Finally, Wall Street Zen raised Opera from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.50.

Opera Price Performance

The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 16.05 and a beta of 1.31. The business’s 50-day moving average price is $18.57 and its two-hundred day moving average price is $15.88.

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 dividend of $0.40 per share. This represents a dividend yield of 407.0%. The ex-dividend date is Tuesday, July 7th. Opera’s dividend payout ratio is presently 61.90%.

Insider Activity at Opera

In related news, CEO Lin Song sold 44,400 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $18.52, for a total value of $822,288.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 84.36% of the company’s stock.

Hedge Funds Weigh In On Opera

Several hedge funds have recently bought and sold shares of OPRA. GAMMA Investing LLC lifted 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 worth $137,000 after acquiring an additional 652 shares during the period. Harvey Capital Management Inc. lifted its stake in Opera by 0.9% during the fourth quarter. Harvey Capital Management Inc. now owns 100,950 shares of the company’s stock worth $1,429,000 after purchasing an additional 925 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Opera by 459.5% in the 1st quarter. Parallel Advisors LLC now owns 3,038 shares of the company’s stock valued at $43,000 after purchasing an additional 2,495 shares in the last quarter. State of Tennessee Department of Treasury bought a new position in shares of Opera in the 2nd quarter valued at $83,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of Opera by 20.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 30,300 shares of the company’s stock worth $601,000 after buying an additional 5,200 shares in the last quarter. 10.21% of the stock is owned by institutional investors.

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.