Offerpad Solutions (NYSE:OPAD) CEO Brian Bair Purchases 125,000 Shares

Offerpad Solutions Inc. (NYSE:OPAD) CEO Brian Bair acquired 125,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were acquired at an average price of $0.82 per share, with a total value of $102,500.00. Following the transaction, the chief executive officer directly owned 184,534 shares of the company’s stock, valued at $151,317.88. The trade was a 209.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Offerpad Solutions Price Performance

OPAD stock traded down $0.02 during trading on Thursday, hitting $0.74. 561,878 shares of the company’s stock traded hands, compared to its average volume of 629,845. Offerpad Solutions Inc. has a 52 week low of $0.57 and a 52 week high of $6.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 1.66. The business has a fifty day simple moving average of $0.73 and a 200 day simple moving average of $1.07. The stock has a market capitalization of $35.02 million, a price-to-earnings ratio of -0.61 and a beta of 2.42.

Offerpad Solutions (NYSE:OPAD) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate 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 business had revenue of $80.08 million during the quarter, compared to analyst estimates of $86.25 million. As a group, research analysts expect that Offerpad Solutions Inc. will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP purchased a new position in Offerpad Solutions in the 4th quarter worth about $27,000. Goldman Sachs Group Inc. purchased a new position in Offerpad Solutions in the 4th quarter worth about $32,000. Barclays PLC increased its stake in Offerpad Solutions by 190.5% in the 4th quarter. Barclays PLC now owns 33,345 shares of the company’s stock worth $40,000 after buying an additional 21,868 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Offerpad Solutions by 69.6% in the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock worth $40,000 after buying an additional 9,979 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Offerpad Solutions in the 2nd quarter worth $44,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Offerpad Solutions from $1.00 to $0.85 and set a “market perform” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Offerpad Solutions in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.62.

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.