Watts Gwilliam & Co. LLC Buys New Stake in Offerpad Solutions Inc. (NYSE:OPAD)

Watts Gwilliam & Co. LLC purchased a new position in shares of Offerpad Solutions Inc. (NYSE:OPAD) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 693,014 shares of the company’s stock, valued at approximately $1,885,000.

Other large investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Offerpad Solutions during the third quarter worth about $2,417,000. Bank of New York Mellon Corp acquired a new position in Offerpad Solutions during the 2nd quarter worth approximately $111,000. Rhumbline Advisers boosted its holdings in Offerpad Solutions by 4,655.6% in the 2nd quarter. Rhumbline Advisers now owns 11,461 shares of the company’s stock worth $51,000 after acquiring an additional 11,220 shares during the period. Barclays PLC raised its stake in shares of Offerpad Solutions by 133.3% during the third quarter. Barclays PLC now owns 20,813 shares of the company’s stock valued at $83,000 after purchasing an additional 11,891 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Offerpad Solutions by 140.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock valued at $44,000 after purchasing an additional 6,284 shares in the last quarter. 39.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods dropped their target price on Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group lowered their price objective on Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating for the company in a research note on Tuesday, October 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $4.50 target price on shares of Offerpad Solutions in a research report on Monday, December 16th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Offerpad Solutions currently has a consensus rating of “Hold” and a consensus target price of $5.13.

Offerpad Solutions Stock Performance

Shares of OPAD stock opened at $2.58 on Friday. The stock has a market capitalization of $70.62 million, a price-to-earnings ratio of -1.17 and a beta of 2.25. Offerpad Solutions Inc. has a one year low of $2.56 and a one year high of $10.03. The company’s 50-day simple moving average is $3.69 and its 200-day simple moving average is $3.78.

Offerpad Solutions (NYSE:OPAD) last released its earnings results on Monday, November 4th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). The firm had revenue of $208.07 million for the quarter, compared to the consensus estimate of $205.17 million. Offerpad Solutions had a negative return on equity of 72.88% and a negative net margin of 6.12%. During the same period in the prior year, the business earned ($0.73) EPS. As a group, research analysts forecast that Offerpad Solutions Inc. will post -2.16 EPS for the current year.

Offerpad Solutions Profile

Offerpad Solutions Inc, together with its subsidiaries, provides technology-enabled solutions for residential real estate market in the United States. It operates iBuying, a real estate solutions platform for on-demand customer that provides home buyers the opportunity to browse and tour homes online.