American Century Companies Inc. Lowers Position in Offerpad Solutions Inc. (NYSE:OPAD)

American Century Companies Inc. lowered its stake in Offerpad Solutions Inc. (NYSE:OPAD) by 30.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,500 shares of the company’s stock after selling 9,294 shares during the period. American Century Companies Inc. owned 0.08% of Offerpad Solutions worth $95,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Bank of New York Mellon Corp purchased a new stake in Offerpad Solutions during the 2nd quarter valued at $111,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

Offerpad Solutions Price Performance

NYSE:OPAD opened at $3.39 on Friday. The company has a 50-day moving average of $3.77 and a 200 day moving average of $5.22. The firm has a market cap of $92.48 million, a PE ratio of -1.23 and a beta of 1.82. Offerpad Solutions Inc. has a 1-year low of $2.57 and a 1-year high of $11.22.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.10). Offerpad Solutions had a negative return on equity of 70.12% and a negative net margin of 6.60%. The business had revenue of $251.12 million for the quarter, compared to analysts’ expectations of $290.00 million. During the same quarter in the previous year, the firm posted ($0.84) EPS. Sell-side analysts anticipate that Offerpad Solutions Inc. will post -2.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on OPAD. JMP Securities decreased their target price on Offerpad Solutions from $9.00 to $5.50 and set a “market outperform” rating on the stock in a report on Tuesday, August 6th. Keefe, Bruyette & Woods upgraded shares of Offerpad Solutions from an “underperform” rating to a “market perform” rating and reduced their price target for the stock from $6.00 to $3.75 in a research report on Tuesday, August 6th.

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.