Offerpad Solutions (NYSE:OPAD) CEO Brian Bair Acquires 125,000 Shares

Offerpad Solutions Inc. (NYSE:OPAD) CEO Brian Bair purchased 125,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average cost of $0.82 per share, for a total transaction of $102,500.00. Following the transaction, the chief executive officer owned 184,534 shares of the company’s stock, valued at approximately $151,317.88. This trade represents a 209.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Offerpad Solutions Price Performance

Shares of Offerpad Solutions stock opened at $0.74 on Friday. 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 fifty day simple moving average of $0.73 and a 200-day simple moving average of $1.07. The stock has a market capitalization of $35.02 million, a price-to-earnings ratio of -0.61 and a beta of 2.42. Offerpad Solutions Inc. has a 1-year low of $0.57 and a 1-year high of $6.35.

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

Institutional Investors Weigh In On Offerpad Solutions

A number of institutional investors have recently added to or reduced their stakes in OPAD. Marshall Wace LLP acquired a new position in shares of Offerpad Solutions in the 4th quarter worth approximately $768,000. Investure LLC bought a new position in shares of Offerpad Solutions during the 3rd quarter worth approximately $2,175,000. Quadrature Capital Ltd acquired a new stake in Offerpad Solutions in the 4th quarter valued at $306,000. Vanguard Group Inc. boosted its stake in Offerpad Solutions by 12.4% in the 3rd quarter. Vanguard Group Inc. now owns 790,570 shares of the company’s stock valued at $3,297,000 after buying an additional 87,144 shares in the last quarter. Finally, Monograph Wealth Advisors LLC bought a new stake in Offerpad Solutions in the third quarter valued at $248,000. 39.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on OPAD shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Offerpad Solutions in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods decreased their target price on Offerpad Solutions from $1.00 to $0.85 and set a “market perform” rating for the company in a research note on Thursday, May 7th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $2.62.

Offerpad Solutions Company Profile

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.