Key Points
- CEO Brian Bair bought 125,000 shares of Offerpad Solutions at $0.82 each, increasing his direct ownership to 184,534 shares and boosting his stake by about 210%.
- OPAD shares were trading around $0.74, giving the company a market cap of roughly $35 million and leaving the stock near its 12-month low of $0.57.
- Offerpad recently reported a narrower-than-expected quarterly loss of ($0.22) per share, though revenue came in below estimates and analysts currently rate the stock a Hold on average.
Offerpad Solutions Inc. (NYSE:OPAD - Get Free Report) CEO Brian Bair bought 125,000 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased 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 in the company, valued at $151,317.88. This represents a 209.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Offerpad Solutions Trading Down 2.7%
Shares of OPAD stock opened at $0.74 on Friday. The company has a market capitalization of $35.02 million, a P/E ratio of -0.61 and a beta of 2.42. Offerpad Solutions Inc. has a 12-month low of $0.57 and a 12-month high of $6.35. The company has a quick ratio of 0.69, a current ratio of 1.66 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $0.73 and a 200 day moving average price of $1.07.
Offerpad Solutions (NYSE:OPAD - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.01. The firm had revenue of $80.08 million for the quarter, compared to analysts' expectations of $86.25 million. Offerpad Solutions had a negative net margin of 8.51% and a negative return on equity of 112.51%. Research analysts forecast that Offerpad Solutions Inc. will post -0.58 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research firms recently weighed in on OPAD. Keefe, Bruyette & Woods dropped their price target on Offerpad Solutions from $1.00 to $0.85 and set a "market perform" rating for the company in a report 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 research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $2.62.
Read Our Latest Research Report on Offerpad Solutions
Institutional Trading of Offerpad Solutions
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new stake in Offerpad Solutions during the 4th quarter worth about $27,000. Goldman Sachs Group Inc. bought a new position in shares of Offerpad Solutions in the 4th quarter valued at about $32,000. Barclays PLC grew its position in shares of Offerpad Solutions by 190.5% during 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 raised its stake in shares of Offerpad Solutions by 69.6% during the first 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 last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Offerpad Solutions during the second quarter worth approximately $44,000. 39.44% of the stock is currently owned by institutional investors and hedge funds.
Offerpad Solutions Company Profile
(
Get Free Report)
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.
Further Reading
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