Offerpad Solutions (NYSE:OPAD) Shares to Reverse Split on Tuesday, June 9th

Offerpad Solutions Inc. (NYSE:OPAD)’s stock is scheduled to reverse split on Tuesday, June 9th. The 1-10 reverse split was announced on Thursday, June 4th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, June 8th.

Offerpad Solutions Stock Down 16.1%

NYSE OPAD traded down $0.12 during trading hours on Friday, reaching $0.62. 1,566,630 shares of the company traded hands, compared to its average volume of 643,766. Offerpad Solutions has a 12 month low of $0.57 and a 12 month high of $6.35. The company has a current ratio of 1.66, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $0.73 and a two-hundred day moving average of $1.06.

Offerpad Solutions (NYSE:OPAD) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. Offerpad Solutions had a negative net margin of 8.51% and a negative return on equity of 112.51%. The firm had revenue of $80.08 million for the quarter, compared to the consensus estimate of $86.25 million. As a group, analysts expect that Offerpad Solutions will post -0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OPAD. Keefe, Bruyette & Woods reduced their price target on shares of Offerpad Solutions from $1.00 to $0.85 and set a “market perform” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Offerpad Solutions in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Offerpad Solutions currently has an average rating of “Hold” and an average price target of $2.62.

Insider Activity

In other Offerpad Solutions news, CEO Brian Bair purchased 125,000 shares of Offerpad Solutions stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average cost of $0.82 per share, for a total transaction of $102,500.00. Following the transaction, the chief executive officer owned 184,534 shares in the company, valued at $151,317.88. This represents a 209.96% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 40.60% of the company’s stock.

Institutional Trading of Offerpad Solutions

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. bought a new stake in Offerpad Solutions in the 4th quarter valued at about $32,000. AQR Capital Management LLC lifted its position in Offerpad Solutions by 69.6% in the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock valued at $40,000 after purchasing an additional 9,979 shares during the last quarter. Jane Street Group LLC bought a new stake in Offerpad Solutions in the 2nd quarter valued at about $44,000. PEAK6 LLC bought a new stake in Offerpad Solutions in the 4th quarter valued at about $60,000. Finally, Dimensional Fund Advisors LP bought a new stake in Offerpad Solutions in the 4th quarter valued at about $61,000. 39.44% of the stock is currently owned by institutional investors.

Offerpad Solutions Company Profile

Offerpad Solutions, Inc, listed on the NYSE under the ticker OPAD, is a technology-driven real estate platform specializing in the direct purchase, renovation and resale of single-family homes. Since its founding in 2015 and headquartered in Chandler, Arizona, the company leverages proprietary data analytics and algorithms to deliver fast, all-cash offers and flexible closing timelines to homeowners in select markets across the United States.

The company’s core services include its Instant Offer program for home acquisitions, in-house renovation and repair services to prepare properties for resale, and a suite of ancillary offerings such as title and escrow, home trade-in solutions and mortgage origination through strategic partnerships.