Harvey Capital Management Inc. Takes $2.42 Million Position in Opera Limited (NASDAQ:OPRA)

Harvey Capital Management Inc. acquired a new position in Opera Limited (NASDAQ:OPRA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 156,620 shares of the company’s stock, valued at approximately $2,420,000. Harvey Capital Management Inc. owned about 0.18% of Opera as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Opera by 135.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock worth $32,000 after purchasing an additional 1,186 shares during the period. Blue Trust Inc. raised its holdings in shares of Opera by 334.7% in the 3rd quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock valued at $65,000 after acquiring an additional 3,216 shares in the last quarter. EntryPoint Capital LLC boosted its position in shares of Opera by 248.8% during the 1st quarter. EntryPoint Capital LLC now owns 6,118 shares of the company’s stock valued at $97,000 after acquiring an additional 4,364 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Opera during the second quarter worth about $112,000. Finally, National Bank of Canada FI raised its stake in Opera by 1,474.9% in the second quarter. National Bank of Canada FI now owns 8,158 shares of the company’s stock valued at $112,000 after purchasing an additional 7,640 shares in the last quarter. 10.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OPRA shares. TD Cowen boosted their price target on shares of Opera from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday. B. Riley restated a “buy” rating and set a $25.00 price target (up previously from $24.00) on shares of Opera in a research report on Wednesday. The Goldman Sachs Group upped their price objective on Opera from $19.50 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Lake Street Capital boosted their target price on Opera from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $24.75.

Opera Trading Down 0.1 %

NASDAQ OPRA traded down $0.01 during trading on Friday, hitting $17.96. 437,787 shares of the company’s stock traded hands, compared to its average volume of 570,006. Opera Limited has a 12-month low of $10.11 and a 12-month high of $19.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.51. The stock has a fifty day moving average of $15.25 and a two-hundred day moving average of $14.04. The firm has a market cap of $1.59 billion, a P/E ratio of 9.12 and a beta of 1.02.

Opera (NASDAQ:OPRA) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. Opera had a return on equity of 19.22% and a net margin of 39.22%. The firm had revenue of $109.73 million during the quarter, compared to the consensus estimate of $108.65 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. As a group, sell-side analysts expect that Opera Limited will post 0.88 EPS for the current year.

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.