Watts Gwilliam & Co. LLC Invests $1.89 Million in Offerpad Solutions Inc. (NYSE:OPAD)

Watts Gwilliam & Co. LLC acquired a new stake in Offerpad Solutions Inc. (NYSE:OPAD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 693,014 shares of the company’s stock, valued at approximately $1,885,000. Watts Gwilliam & Co. LLC owned about 2.53% of Offerpad Solutions at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Offerpad Solutions in the third quarter valued at about $2,417,000. Bank of New York Mellon Corp acquired a new position in shares of Offerpad Solutions during the 2nd quarter worth approximately $111,000. Barclays PLC lifted its stake in Offerpad Solutions by 133.3% in the 3rd quarter. Barclays PLC now owns 20,813 shares of the company’s stock valued at $83,000 after buying an additional 11,891 shares in the last quarter. Rhumbline Advisers grew its holdings in Offerpad Solutions by 4,655.6% during the 2nd quarter. Rhumbline Advisers now owns 11,461 shares of the company’s stock valued at $51,000 after buying an additional 11,220 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Offerpad Solutions by 140.1% during the third quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock worth $44,000 after buying an additional 6,284 shares in the last quarter. 39.44% of the stock is currently owned by hedge funds and other institutional investors.

Offerpad Solutions Stock Down 5.1 %

Shares of OPAD opened at $2.58 on Friday. Offerpad Solutions Inc. has a fifty-two week low of $2.56 and a fifty-two week high of $10.03. The company’s fifty day moving average is $3.69 and its two-hundred day moving average is $3.78. The firm has a market cap of $70.62 million, a PE ratio of -1.17 and a beta of 2.25.

Offerpad Solutions (NYSE:OPAD) last issued its earnings results on Monday, November 4th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). The firm had revenue of $208.07 million during the quarter, compared to analyst estimates of $205.17 million. Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. During the same quarter in the previous year, the business posted ($0.73) EPS. As a group, equities research analysts anticipate that Offerpad Solutions Inc. will post -2.16 earnings per share for the current year.

Wall Street Analyst Weigh In

OPAD has been the topic of several recent research reports. Keefe, Bruyette & Woods reduced their price objective on Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group reduced their target price on shares of Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating on the stock in a report on Tuesday, October 22nd. Finally, JMP Securities restated a “market outperform” rating and set a $4.50 target price on shares of Offerpad Solutions in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Offerpad Solutions currently has an average rating of “Hold” and a consensus target price of $5.13.

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.