Offerpad Solutions Inc. (NYSE:OPAD) Stake Lowered by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its stake in Offerpad Solutions Inc. (NYSE:OPAD) by 52.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,838 shares of the company’s stock after selling 37,777 shares during the period. Charles Schwab Investment Management Inc. owned 0.12% of Offerpad Solutions worth $137,000 at the end of the most recent reporting period.

Separately, Rhumbline Advisers increased its position in Offerpad Solutions by 4,655.6% in the second quarter. Rhumbline Advisers now owns 11,461 shares of the company’s stock worth $51,000 after buying an additional 11,220 shares during the period. 39.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OPAD. Jefferies Financial Group reduced their price target on shares of Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating for the company in a report on Tuesday, October 22nd. JMP Securities reissued a “market outperform” rating and set a $4.50 target price on shares of Offerpad Solutions in a research note on Monday. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating on the stock in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.13.

Offerpad Solutions Stock Up 2.4 %

OPAD stock opened at $3.42 on Friday. The company has a 50-day simple moving average of $3.68 and a 200 day simple moving average of $3.96. The company has a market capitalization of $93.62 million, a P/E ratio of -1.55 and a beta of 2.14. Offerpad Solutions Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $10.74.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). The company had revenue of $208.07 million during the quarter, compared to analyst estimates of $205.17 million. Offerpad Solutions had a negative return on equity of 72.88% and a negative net margin of 6.12%. During the same period in the prior year, the company posted ($0.73) earnings per share. Equities analysts anticipate that Offerpad Solutions Inc. will post -2.16 EPS for the current year.

Offerpad Solutions Profile

Offerpad Solutions Inc, together with its subsidiaries, provides technology-enabled solutions for residential real estate market in the United States. It operates iBuying, a real estate solutions platform for on-demand customer that provides home buyers the opportunity to browse and tour homes online.