Cornerstone Investment Partners LLC Makes New Investment in Opera Limited (NASDAQ:OPRA)

Cornerstone Investment Partners LLC purchased a new stake in shares of Opera Limited (NASDAQ:OPRA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,382 shares of the company’s stock, valued at approximately $190,000.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Opera by 4.2% during the second quarter. BlackRock Inc. now owns 22,006 shares of the company’s stock valued at $437,000 after buying an additional 897 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Opera by 4.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 26,693 shares of the company’s stock valued at $301,000 after purchasing an additional 1,050 shares during the last quarter. Tucker Asset Management LLC grew its stake in Opera by 25.1% in the third quarter. Tucker Asset Management LLC now owns 6,700 shares of the company’s stock valued at $76,000 after purchasing an additional 1,344 shares during the last quarter. Royal Bank of Canada purchased a new position in Opera in the second quarter valued at about $32,000. Finally, JPMorgan Chase & Co. grew its stake in Opera by 66.7% in the first quarter. JPMorgan Chase & Co. now owns 5,000 shares of the company’s stock valued at $30,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on OPRA shares. TheStreet upgraded Opera from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. TD Cowen lifted their target price on Opera from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, March 1st.

Opera Trading Down 5.9 %

Shares of NASDAQ:OPRA opened at $13.95 on Friday. Opera Limited has a 12-month low of $9.40 and a 12-month high of $28.58. The company has a market capitalization of $1.24 billion, a PE ratio of 7.42 and a beta of 0.81. The business has a 50 day moving average of $14.05 and a two-hundred day moving average of $12.54. The company has a current ratio of 2.56, a quick ratio of 4.69 and a debt-to-equity ratio of 0.01.

Opera (NASDAQ:OPRA) last announced its quarterly earnings results on Thursday, February 29th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $1.20. The company had revenue of $113.00 million during the quarter, compared to the consensus estimate of $112.20 million. Opera had a return on equity of 19.90% and a net margin of 42.69%. As a group, analysts forecast that Opera Limited will post 0.73 EPS for the current year.

About Opera

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers. It operates in two segments, Browser and News, and Other. The company offers mobile browser products, such as Opera Mini, Opera for Android and iOS, Opera GX Mobile, and 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.