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

Harvey Capital Management Inc. reduced its stake in Opera Limited (NASDAQ:OPRA) by 12.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,220 shares of the company’s stock after selling 19,400 shares during the period. Harvey Capital Management Inc.’s holdings in Opera were worth $2,599,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in OPRA. 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. Inspire Investing LLC lifted its holdings in shares of Opera by 2.7% in the third quarter. Inspire Investing LLC now owns 58,080 shares of the company’s stock worth $897,000 after buying an additional 1,539 shares in the last quarter. Blue Trust Inc. boosted its position 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 acquiring an additional 3,216 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Opera by 30.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,700 shares of the company’s stock valued at $212,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Calton & Associates Inc. bought a new stake in Opera during the 3rd quarter worth approximately $218,000. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Opera Stock Down 1.4 %

OPRA opened at $21.26 on Wednesday. The business’s fifty day simple moving average is $18.79 and its 200 day simple moving average is $16.64. Opera Limited has a 52 week low of $10.11 and a 52 week high of $21.90. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.88 billion, a PE ratio of 10.79 and a beta of 1.04.

Opera Dividend Announcement

The company also recently disclosed a semi-annual dividend, which was paid on Monday, January 13th. Stockholders 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 dividend yield of 3.9%. Opera’s dividend payout ratio (DPR) is presently 39.59%.

Opera Company 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.