Stock Traders Purchase High Volume of Call Options on Opera (NASDAQ:OPRA)

Opera Limited Sponsored ADR (NASDAQ:OPRA) was the recipient of some unusual options trading on Monday. Traders purchased 18,311 call options on the stock. This is an increase of 806% compared to the typical daily volume of 2,020 call options.

Insider Activity at Opera

In other Opera news, CEO Lin Song sold 44,400 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $18.52, for a total transaction 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 approximately $2,238,067.92. This trade represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 84.36% of the company’s stock.

Hedge Funds Weigh In On Opera

Several hedge funds and other institutional investors have recently modified their holdings of OPRA. Goldman Sachs Group Inc. lifted its position in Opera by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company’s stock valued at $2,453,000 after buying an additional 30,662 shares during the last quarter. Harvey Capital Management Inc. raised its holdings in shares of Opera by 0.9% in the 4th quarter. Harvey Capital Management Inc. now owns 100,950 shares of the company’s stock valued at $1,429,000 after purchasing an additional 925 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Opera by 305.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 91,016 shares of the company’s stock worth $1,289,000 after purchasing an additional 68,549 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its holdings in shares of Opera by 35.3% in the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 29,146 shares of the company’s stock valued at $416,000 after buying an additional 7,607 shares in the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in shares of Opera during the fourth quarter worth about $355,000. 10.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Zacks Research lowered shares of Opera from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen raised Opera from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Opera in a research report on Friday, March 27th. Finally, TD Cowen reissued a “buy” rating on shares of Opera in a research note on Friday, March 13th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.50.

Opera Trading Up 3.4%

Shares of NASDAQ:OPRA traded up $0.67 on Monday, hitting $20.57. 209,129 shares of the company were exchanged, compared to its average volume of 572,510. The stock’s 50 day moving average price is $18.30 and its 200 day moving average price is $15.66. The firm has a market capitalization of $1.84 billion, a P/E ratio of 16.27 and a beta of 1.31. Opera has a 1-year low of $11.71 and a 1-year high of $21.06.

Opera Announces Dividend

The company also recently announced a dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, July 7th will be paid a dividend of $0.40 per share. This represents a dividend yield of 441.0%. The ex-dividend date of this dividend is Tuesday, July 7th. Opera’s dividend payout ratio is presently 61.90%.

About Opera

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.