Offerpad Solutions (NYSE:OPAD) Announces Earnings Results

Offerpad Solutions (NYSE:OPADGet Free Report) announced its earnings results on Monday. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($1.87) by ($0.07), FiscalAI reports. Offerpad Solutions had a negative net margin of 8.51% and a negative return on equity of 112.51%. The business had revenue of $77.65 million during the quarter, compared to analysts’ expectations of $85.20 million.

Offerpad Solutions Trading Down 3.4%

Shares of OPAD traded down $0.13 during trading hours on Monday, hitting $3.74. The stock had a trading volume of 86,698 shares, compared to its average volume of 199,021. Offerpad Solutions has a 12-month low of $3.52 and a 12-month high of $63.50. The firm has a market cap of $17.69 million, a P/E ratio of -0.31 and a beta of 2.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 1.66. The company’s fifty day simple moving average is $5.37 and its 200 day simple moving average is $7.32.

Insider Buying and Selling at Offerpad Solutions

In related news, CEO Brian Bair bought 12,500 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average price of $8.20 per share, for a total transaction of $102,500.00. Following the purchase, the chief executive officer owned 18,453 shares in the company, valued at $151,314.60. This trade represents a 209.98% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 16.70% of the company’s stock.

Hedge Funds Weigh In On Offerpad Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Offerpad Solutions by 69.6% during the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock valued at $40,000 after purchasing an additional 9,979 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Offerpad Solutions during the second quarter worth about $44,000. Vanguard Group Inc. lifted its holdings in shares of Offerpad Solutions by 12.4% during the third quarter. Vanguard Group Inc. now owns 790,570 shares of the company’s stock worth $3,297,000 after purchasing an additional 87,144 shares during the period. Monograph Wealth Advisors LLC bought a new position in Offerpad Solutions during the third quarter worth $248,000. Finally, Geode Capital Management LLC raised its stake in Offerpad Solutions by 37.9% during the 4th quarter. Geode Capital Management LLC now owns 190,509 shares of the company’s stock worth $231,000 after buying an additional 52,312 shares during the period. 39.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on OPAD shares. Alliance Global Partners restated a “buy” rating on shares of Offerpad Solutions in a research report on Friday, June 12th. Wall Street Zen cut Offerpad Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Offerpad Solutions in a research note on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods dropped their target price on Offerpad Solutions from $10.00 to $8.50 and set a “market perform” rating on the stock in a report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.17.

Read Our Latest Analysis on OPAD

About Offerpad Solutions

(Get Free Report)

Offerpad Solutions, Inc, listed on the NYSE under the ticker OPAD, is a technology-driven real estate platform specializing in the direct purchase, renovation and resale of single-family homes. Since its founding in 2015 and headquartered in Chandler, Arizona, the company leverages proprietary data analytics and algorithms to deliver fast, all-cash offers and flexible closing timelines to homeowners in select markets across the United States.

The company’s core services include its Instant Offer program for home acquisitions, in-house renovation and repair services to prepare properties for resale, and a suite of ancillary offerings such as title and escrow, home trade-in solutions and mortgage origination through strategic partnerships.

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Earnings History for Offerpad Solutions (NYSE:OPAD)

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