Penn Mutual Asset Management Purchases Shares of 61,650 Opera Limited (NASDAQ:OPRA)

Penn Mutual Asset Management acquired a new position in shares of Opera Limited (NASDAQ:OPRA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 61,650 shares of the company’s stock, valued at approximately $952,000. Opera makes up 1.9% of Penn Mutual Asset Management’s investment portfolio, making the stock its 12th largest holding. Penn Mutual Asset Management owned 0.07% of Opera at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its stake in Opera by 44.0% in the third quarter. Rockefeller Capital Management L.P. now owns 275,034 shares of the company’s stock valued at $4,249,000 after acquiring an additional 84,001 shares during the last quarter. Harvey Capital Management Inc. acquired a new stake in Opera in the 3rd quarter valued at about $2,420,000. Hennion & Walsh Asset Management Inc. grew its holdings in Opera by 5.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 88,008 shares of the company’s stock worth $1,360,000 after purchasing an additional 4,274 shares during the period. Inspire Investing LLC raised its stake in Opera by 2.7% in the third quarter. Inspire Investing LLC now owns 58,080 shares of the company’s stock valued at $897,000 after buying an additional 1,539 shares during the period. Finally, Redwood Wealth Management Group LLC lifted its position in shares of Opera by 4.5% in the second quarter. Redwood Wealth Management Group LLC now owns 33,645 shares of the company’s stock valued at $472,000 after buying an additional 1,440 shares during the last quarter. 10.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Lake Street Capital increased their price target on Opera from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. TD Cowen boosted their price objective on Opera from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. B. Riley reissued a “buy” rating and issued a $25.00 price objective (up previously from $24.00) on shares of Opera in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their target price on Opera from $19.50 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Opera currently has an average rating of “Buy” and an average target price of $24.75.

Opera Trading Down 0.7 %

Shares of OPRA stock opened at $20.07 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. Opera Limited has a fifty-two week low of $10.11 and a fifty-two week high of $20.70. The company has a market cap of $1.78 billion, a PE ratio of 10.19 and a beta of 1.03. The stock’s fifty day moving average price is $17.14 and its two-hundred day moving average price is $14.85.

About Opera

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.