Penn Mutual Asset Management Makes New $952,000 Investment in Opera Limited (NASDAQ:OPRA)

Penn Mutual Asset Management acquired a new stake in Opera Limited (NASDAQ:OPRA) in the 3rd quarter, Holdings Channel.com reports. The fund 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 portfolio, making the stock its 12th biggest position.

A number of other large investors have also added to or reduced their stakes in OPRA. Alpha DNA Investment Management LLC acquired a new stake in shares of Opera in the third quarter valued at about $404,000. Hennion & Walsh Asset Management Inc. increased its stake in Opera by 45.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 83,734 shares of the company’s stock valued at $1,176,000 after purchasing an additional 26,201 shares in the last quarter. Harvey Capital Management Inc. acquired a new stake in shares of Opera in the 3rd quarter worth about $2,420,000. Inspire Investing LLC acquired a new position in Opera during the 2nd quarter valued at about $794,000. Finally, Blue Trust Inc. increased its holdings in Opera by 334.7% during the 3rd quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock worth $65,000 after purchasing an additional 3,216 shares in the last quarter. Institutional investors own 10.21% of the company’s stock.

Analyst Ratings Changes

OPRA has been the topic of a number of recent research reports. The Goldman Sachs Group raised their target price on Opera from $19.50 to $23.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Lake Street Capital increased their target price on shares of Opera from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. B. Riley restated 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. Finally, TD Cowen increased their price objective on shares of Opera from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $24.75.

Opera Price Performance

NASDAQ OPRA opened at $20.07 on Wednesday. The company has a market cap of $1.78 billion, a PE ratio of 10.19 and a beta of 1.03. 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 firm’s 50-day simple moving average is $17.14 and its two-hundred day simple moving average is $14.85. Opera Limited has a 52 week low of $10.11 and a 52 week high of $20.70.

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.