GAMMA Investing LLC Grows Position in Opera Limited (NASDAQ:OPRA)

GAMMA Investing LLC grew its position in shares of Opera Limited (NASDAQ:OPRA) by 66.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,430 shares of the company’s stock after purchasing an additional 1,368 shares during the quarter. GAMMA Investing LLC’s holdings in Opera were worth $65,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OPRA. Portolan Capital Management LLC grew its holdings in Opera by 63.5% in the third quarter. Portolan Capital Management LLC now owns 711,820 shares of the company’s stock valued at $10,998,000 after purchasing an additional 276,356 shares during the period. Tidal Investments LLC lifted its position in shares of Opera by 62.4% during the 3rd quarter. Tidal Investments LLC now owns 670,140 shares of the company’s stock valued at $10,354,000 after buying an additional 257,469 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in Opera by 44.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 275,034 shares of the company’s stock valued at $4,249,000 after acquiring an additional 84,001 shares during the period. Harvey Capital Management Inc. purchased a new stake in Opera in the 3rd quarter worth $2,420,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in Opera by 5.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 88,008 shares of the company’s stock worth $1,360,000 after acquiring an additional 4,274 shares during the period. 10.21% of the stock is owned by hedge funds and other institutional investors.

Opera Stock Performance

NASDAQ:OPRA opened at $17.49 on Monday. The company has a market cap of $1.55 billion, a P/E ratio of 8.88 and a beta of 1.06. Opera Limited has a twelve month low of $10.11 and a twelve month high of $20.70. The company’s 50-day moving average price is $18.96 and its 200-day moving average price is $15.81. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01.

Opera Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, January 6th will be paid a $0.40 dividend. This represents a yield of 3.9%. The ex-dividend date of this dividend is Monday, January 6th. Opera’s dividend payout ratio (DPR) is 39.59%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OPRA. Lake Street Capital lifted their target price on shares of Opera from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their price target on shares of Opera from $19.50 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. B. Riley reiterated a “buy” rating and set a $25.00 price objective (up from $24.00) on shares of Opera in a research note on Wednesday, October 30th. Finally, TD Cowen raised their target price on Opera from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $24.75.

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.