Offerpad Solutions (NYSE:OPAD) CEO Brian Bair Acquires 122,920 Shares

Offerpad Solutions Inc. (NYSE:OPADGet Free Report) CEO Brian Bair bought 122,920 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average cost of $0.79 per share, for a total transaction of $97,106.80. Following the purchase, the chief executive officer owned 307,454 shares in the company, valued at $242,888.66. This represents a 66.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brian Bair also recently made the following trade(s):

  • On Tuesday, June 2nd, Brian Bair bought 125,000 shares of Offerpad Solutions stock. The shares were purchased at an average cost of $0.82 per share, for a total transaction of $102,500.00.

Offerpad Solutions Price Performance

OPAD opened at $0.62 on Friday. The stock’s 50-day moving average price is $0.73 and its 200 day moving average price is $1.06. Offerpad Solutions Inc. has a 12-month low of $0.57 and a 12-month high of $6.35. The company has a current ratio of 1.66, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The firm has a market cap of $29.39 million, a price-to-earnings ratio of -0.51 and a beta of 2.42.

Shares of Offerpad Solutions are scheduled to reverse split on the morning of Tuesday, June 9th. The 1-10 reverse split was announced on Thursday, June 4th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, June 8th.

Offerpad Solutions (NYSE:OPADGet Free Report) last posted its earnings results on Thursday, April 30th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.01. Offerpad Solutions had a negative return on equity of 112.51% and a negative net margin of 8.51%.The firm had revenue of $80.08 million for the quarter, compared to analyst estimates of $86.25 million. As a group, sell-side analysts expect that Offerpad Solutions Inc. will post -0.58 earnings per share for the current year.

Analysts Set New Price Targets

OPAD has been the topic of several research reports. Keefe, Bruyette & Woods decreased their target price on Offerpad Solutions from $1.00 to $0.85 and set a “market perform” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Offerpad Solutions in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.62.

View Our Latest Stock Analysis on Offerpad Solutions

Institutional Investors Weigh In On Offerpad Solutions

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Offerpad Solutions by 37.9% in the 4th quarter. Geode Capital Management LLC now owns 190,509 shares of the company’s stock valued at $231,000 after purchasing an additional 52,312 shares in the last quarter. XTX Topco Ltd acquired a new stake in Offerpad Solutions in the 4th quarter valued at about $63,000. Dimensional Fund Advisors LP acquired a new stake in Offerpad Solutions in the 4th quarter valued at about $61,000. PEAK6 LLC acquired a new stake in Offerpad Solutions in the 4th quarter valued at about $60,000. Finally, Jane Street Group LLC acquired a new stake in Offerpad Solutions in the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 39.44% of the company’s stock.

Offerpad Solutions Company Profile

(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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