Cornerstone Investment Partners LLC Takes $197,000 Position in Opera Limited (NASDAQ:OPRA)

Cornerstone Investment Partners LLC bought a new position in shares of Opera Limited (NASDAQ:OPRA) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,414 shares of the company’s stock, valued at approximately $197,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Portolan Capital Management LLC grew its position in shares of Opera by 63.5% during the 3rd quarter. Portolan Capital Management LLC now owns 711,820 shares of the company’s stock worth $10,998,000 after buying an additional 276,356 shares during the period. Tidal Investments LLC boosted its stake in Opera by 62.4% during the third quarter. Tidal Investments LLC now owns 670,140 shares of the company’s stock worth $10,354,000 after acquiring an additional 257,469 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in Opera by 44.0% in the third quarter. Rockefeller Capital Management L.P. now owns 275,034 shares of the company’s stock worth $4,249,000 after purchasing an additional 84,001 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Opera by 64.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 121,069 shares of the company’s stock valued at $2,293,000 after purchasing an additional 47,652 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Opera by 20.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 105,873 shares of the company’s stock valued at $2,005,000 after purchasing an additional 17,865 shares during the period. 10.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler began coverage on Opera in a research note on Wednesday, February 5th. They issued an “overweight” rating and a $25.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $24.80.

Opera Stock Performance

Shares of OPRA stock opened at $17.36 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $19.03 and a two-hundred day simple moving average of $17.47. Opera Limited has a 12 month low of $10.11 and a 12 month high of $22.50. The firm has a market capitalization of $1.54 billion, a PE ratio of 8.81 and a beta of 1.04.

Opera Dividend Announcement

The firm also recently announced a semi-annual dividend, which was paid on Monday, January 13th. Investors of record on Monday, January 6th were issued a $0.40 dividend. The ex-dividend date was Monday, January 6th. This represents a dividend yield of 3.9%. Opera’s dividend payout ratio is presently 85.71%.

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.