Inspire Investing LLC Takes Position in Opera Limited (NASDAQ:OPRA)

Inspire Investing LLC bought a new stake in shares of Opera Limited (NASDAQ:OPRA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 56,541 shares of the company’s stock, valued at approximately $794,000. Inspire Investing LLC owned about 0.06% of Opera as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Redwood Wealth Management Group LLC grew its holdings in Opera by 4.5% during the 2nd quarter. Redwood Wealth Management Group LLC now owns 33,645 shares of the company’s stock valued at $472,000 after purchasing an additional 1,440 shares during the last quarter. Caprock Group LLC purchased a new stake in shares of Opera in the second quarter worth approximately $205,000. National Bank of Canada FI lifted its stake in shares of Opera by 1,474.9% during the 2nd quarter. National Bank of Canada FI now owns 8,158 shares of the company’s stock worth $112,000 after acquiring an additional 7,640 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in Opera by 9.6% during the 2nd quarter. Ritholtz Wealth Management now owns 18,284 shares of the company’s stock valued at $257,000 after acquiring an additional 1,595 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Opera in the 2nd quarter valued at $147,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Opera Stock Down 0.7 %

Shares of NASDAQ OPRA opened at $14.56 on Friday. Opera Limited has a 52-week low of $10.11 and a 52-week high of $17.31. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 7.74 and a beta of 1.03. The stock has a 50 day moving average price of $13.32 and a 200 day moving average price of $13.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.51 and a current ratio of 2.51.

Opera (NASDAQ:OPRA) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Opera had a return on equity of 19.59% and a net margin of 40.85%. The business had revenue of $109.73 million for the quarter, compared to the consensus estimate of $108.65 million. During the same quarter in the prior year, the company earned $0.15 EPS. Sell-side analysts expect that Opera Limited will post 0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, B. Riley lifted their target price on Opera from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd.

Opera Company Profile

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.