Wilmington Savings Fund Society FSB Acquires Shares of 595,238 Offerpad Solutions Inc. (NYSE:OPAD)

Wilmington Savings Fund Society FSB bought a new stake in shares of Offerpad Solutions Inc. (NYSE:OPAD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 595,238 shares of the company’s stock, valued at approximately $2,417,000. Wilmington Savings Fund Society FSB owned approximately 2.17% of Offerpad Solutions at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OPAD. Barclays PLC boosted its stake in Offerpad Solutions by 133.3% during the third quarter. Barclays PLC now owns 20,813 shares of the company’s stock worth $83,000 after acquiring an additional 11,891 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Offerpad Solutions by 4,655.6% in the 2nd quarter. Rhumbline Advisers now owns 11,461 shares of the company’s stock worth $51,000 after purchasing an additional 11,220 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Offerpad Solutions in the 2nd quarter worth approximately $111,000. 39.44% of the stock is owned by hedge funds and other institutional investors.

Offerpad Solutions Stock Performance

NYSE OPAD opened at $4.00 on Friday. The company has a market capitalization of $109.50 million, a price-to-earnings ratio of -1.82 and a beta of 2.14. The stock has a 50-day moving average of $3.65 and a 200 day moving average of $4.01. Offerpad Solutions Inc. has a one year low of $2.57 and a one year high of $11.22.

Offerpad Solutions (NYSE:OPAD) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.05). Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. The company had revenue of $208.07 million for the quarter, compared to analysts’ expectations of $205.17 million. During the same period in the previous year, the firm earned ($0.73) earnings per share. On average, equities analysts predict that Offerpad Solutions Inc. will post -2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on OPAD shares. Jefferies Financial Group lowered their price objective on Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating for the company in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods dropped their price target on shares of Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating on the stock in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Offerpad Solutions presently has an average rating of “Hold” and an average price target of $5.33.

Offerpad Solutions Company Profile

Offerpad Solutions Inc, together with its subsidiaries, provides technology-enabled solutions for residential real estate market in the United States. It operates iBuying, a real estate solutions platform for on-demand customer that provides home buyers the opportunity to browse and tour homes online.