Opera (NASDAQ:OPRA) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Opera (NASDAQ:OPRA) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Other research analysts have also recently issued research reports about the stock. B. Riley Financial boosted their price objective on shares of Opera from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday. Zacks Research lowered shares of Opera from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Opera in a report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Opera currently has an average rating of “Moderate Buy” and an average price target of $24.75.

Opera Trading Up 3.7%

Opera stock opened at $18.96 on Friday. The firm has a market capitalization of $1.70 billion, a P/E ratio of 13.64 and a beta of 1.32. The business has a 50-day moving average of $19.32 and a 200-day moving average of $16.98. Opera has a 1 year low of $11.71 and a 1 year high of $21.06.

Opera Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, July 7th were issued a $0.40 dividend. The ex-dividend date was Tuesday, July 7th. This represents a dividend yield of 407.0%. Opera’s dividend payout ratio (DPR) is 56.12%.

Insider Activity at Opera

In related news, CEO Lin Song sold 44,400 shares of the stock in a transaction on Thursday, June 18th. The shares were 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 in the company, valued at approximately $2,238,067.92. This represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 84.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Opera

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPRA. Parallel Advisors LLC boosted its stake in shares of Opera by 459.5% during the 1st quarter. Parallel Advisors LLC now owns 3,038 shares of the company’s stock worth $43,000 after buying an additional 2,495 shares during the last quarter. State of Tennessee Department of Treasury bought a new position in shares of Opera in the 2nd quarter valued at about $83,000. GAMMA Investing LLC increased its position in shares of Opera by 10.4% in the second quarter. GAMMA Investing LLC now owns 6,904 shares of the company’s stock valued at $137,000 after acquiring an additional 652 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in shares of Opera in the first quarter valued at about $141,000. Finally, Quent Capital LLC acquired a new stake in shares of Opera in the fourth quarter valued at about $212,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.