Tucker Asset Management LLC Cuts Stake in Opera Limited (NASDAQ:OPRA)

Tucker Asset Management LLC decreased its position in Opera Limited (NASDAQ:OPRA) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,650 shares of the company’s stock after selling 1,050 shares during the period. Tucker Asset Management LLC’s holdings in Opera were worth $75,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Citigroup Inc. acquired a new position in Opera during the 3rd quarter worth approximately $31,843,000. Roumell Asset Management LLC boosted its position in shares of Opera by 169.2% during the 4th quarter. Roumell Asset Management LLC now owns 376,870 shares of the company’s stock worth $4,986,000 after purchasing an additional 236,870 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Opera during the 3rd quarter worth $3,842,000. Walleye Capital LLC purchased a new position in shares of Opera in the 3rd quarter valued at about $3,652,000. Finally, Monashee Investment Management LLC acquired a new stake in shares of Opera in the third quarter valued at about $3,381,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. TD Cowen increased their target price on shares of Opera from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, March 1st. TheStreet raised Opera from a “c+” rating to a “b-” rating in a research note on Monday, March 4th.

Opera Price Performance

NASDAQ:OPRA traded up $0.08 during mid-day trading on Friday, hitting $14.60. 429,587 shares of the company’s stock traded hands, compared to its average volume of 1,021,847. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market cap of $1.29 billion, a PE ratio of 7.77 and a beta of 0.93. The firm’s 50 day simple moving average is $14.10 and its 200 day simple moving average is $13.21. Opera Limited has a 1 year low of $10.30 and a 1 year high of $28.58.

Opera (NASDAQ:OPRA) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Opera had a net margin of 41.00% and a return on equity of 19.52%. The business had revenue of $101.87 million during the quarter, compared to analysts’ expectations of $100.60 million. Sell-side analysts expect that Opera Limited will post 0.78 EPS for the current year.

Opera Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a $0.40 dividend. The ex-dividend date is Tuesday, July 2nd. Opera’s dividend payout ratio is currently 41.49%.

Opera 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.