Harvey Capital Management Inc. Sells 19,400 Shares of Opera Limited (NASDAQ:OPRA)

Harvey Capital Management Inc. reduced its stake in shares of Opera Limited (NASDAQ:OPRA) by 12.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 137,220 shares of the company’s stock after selling 19,400 shares during the period. Harvey Capital Management Inc. owned about 0.16% of Opera worth $2,599,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of OPRA. GAMMA Investing LLC raised its position in Opera by 135.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock valued at $32,000 after buying an additional 1,186 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of Opera in the 3rd quarter worth $61,000. Blue Trust Inc. raised its holdings in shares of Opera by 334.7% in the third quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock valued at $65,000 after purchasing an additional 3,216 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Opera during the third quarter valued at about $74,000. Finally, National Bank of Canada FI boosted its holdings in Opera by 14.4% during the third quarter. National Bank of Canada FI now owns 9,333 shares of the company’s stock worth $144,000 after purchasing an additional 1,175 shares during the last quarter. 10.21% of the stock is owned by hedge funds and other institutional investors.

Opera Stock Down 1.4 %

Shares of NASDAQ OPRA opened at $21.26 on Wednesday. The business’s fifty day moving average price is $18.79 and its 200-day moving average price is $16.64. Opera Limited has a one year low of $10.11 and a one year high of $21.90. The stock has a market capitalization of $1.88 billion, a PE ratio of 10.79 and a beta of 1.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10.

Opera Dividend Announcement

The firm also recently announced a semi-annual dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, January 6th were given a dividend of $0.40 per share. The ex-dividend date was Monday, January 6th. This represents a yield of 3.9%. Opera’s dividend payout ratio is presently 39.59%.

Wall Street Analysts Forecast Growth

Several research firms have commented on OPRA. Lake Street Capital increased their price objective on shares of Opera from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. B. Riley reiterated a “buy” rating and set a $25.00 price target (up from $24.00) on shares of Opera in a report on Wednesday, October 30th. Piper Sandler began coverage on Opera in a research note on Wednesday, February 5th. They issued an “overweight” rating and a $25.00 price objective for the company. The Goldman Sachs Group lifted their target price on Opera from $19.50 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, TD Cowen increased their price target on shares of Opera from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $24.80.

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.