Key Points
- CEO Brian Bair bought 122,920 shares of Offerpad Solutions at an average price of $0.79, increasing his direct stake by 66.61% to 307,454 shares. The filing notes the purchase was tied to tax withholding obligations related to vested equity awards.
- Offerpad announced a 1-for-10 reverse split effective June 9, with shareholder share counts adjusted after the close on June 8. The stock was trading near $0.62, close to its 52-week low of $0.57.
- Recent results and analyst sentiment remain weak, with the company posting a smaller-than-expected quarterly loss but lower-than-expected revenue. Analysts currently have a consensus Hold rating, and the average target price is $2.62.
Offerpad Solutions Inc. (NYSE:OPAD - Get Free Report) CEO Brian Bair bought 122,920 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average cost of $0.79 per share, for a total transaction of $97,106.80. Following the transaction, the chief executive officer directly owned 307,454 shares in the company, valued at approximately $242,888.66. This represents a 66.61% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Brian Bair also recently made the following trade(s):
- On Tuesday, June 2nd, Brian Bair bought 125,000 shares of Offerpad Solutions stock. The shares were acquired at an average cost of $0.82 per share, for a total transaction of $102,500.00.
Offerpad Solutions Price Performance
Shares of NYSE OPAD opened at $0.62 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 1.66. Offerpad Solutions Inc. has a fifty-two week low of $0.57 and a fifty-two week high of $6.35. The firm has a market capitalization of $29.39 million, a PE ratio of -0.51 and a beta of 2.42. The stock's 50-day simple moving average is $0.73 and its 200-day simple moving average is $1.06.
Shares of Offerpad Solutions are set to reverse split on the morning of Tuesday, June 9th. The 1-10 reverse split was announced on Thursday, June 4th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, June 8th.
Offerpad Solutions (NYSE:OPAD - Get Free Report) last issued its earnings results 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. Offerpad Solutions had a negative return on equity of 112.51% and a negative net margin of 8.51%.The business had revenue of $80.08 million for the quarter, compared to analyst estimates of $86.25 million. As a group, equities research analysts forecast that Offerpad Solutions Inc. will post -0.58 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. PEAK6 LLC purchased a new position in shares of Offerpad Solutions in the 4th quarter valued at approximately $60,000. XTX Topco Ltd purchased a new position in shares of Offerpad Solutions in the 4th quarter valued at approximately $63,000. Quadrature Capital Ltd purchased a new position in shares of Offerpad Solutions in the 4th quarter valued at approximately $306,000. Engineers Gate Manager LP purchased a new position in shares of Offerpad Solutions in the 4th quarter valued at approximately $27,000. Finally, Barclays PLC grew its stake in shares of Offerpad Solutions by 190.5% in the 4th quarter. Barclays PLC now owns 33,345 shares of the company's stock valued at $40,000 after purchasing an additional 21,868 shares during the last quarter. Hedge funds and other institutional investors own 39.44% of the company's stock.
Analyst Upgrades and Downgrades
OPAD has been the topic of several research analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Offerpad Solutions in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods dropped their price target on 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. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $2.62.
Get Our Latest Stock Analysis on Offerpad Solutions
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.
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