Watts Gwilliam & Co. LLC Buys Shares of 693,014 Offerpad Solutions Inc. (NYSE:OPAD)

Watts Gwilliam & Co. LLC bought a new stake in shares of Offerpad Solutions Inc. (NYSE:OPAD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 693,014 shares of the company's stock, valued at approximately $1,885,000. Watts Gwilliam & Co. LLC owned approximately 2.53% of Offerpad Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of OPAD. JPMorgan Chase & Co. lifted its position in shares of Offerpad Solutions by 140.1% in the third quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company's stock valued at $44,000 after acquiring an additional 6,284 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Offerpad Solutions by 4,655.6% in the second quarter. Rhumbline Advisers now owns 11,461 shares of the company's stock valued at $51,000 after acquiring an additional 11,220 shares in the last quarter. Barclays PLC lifted its position in shares of Offerpad Solutions by 133.3% in the third quarter. Barclays PLC now owns 20,813 shares of the company's stock valued at $83,000 after acquiring an additional 11,891 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Offerpad Solutions in the second quarter valued at about $111,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Offerpad Solutions in the third quarter valued at about $2,417,000. 39.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on OPAD shares. Jefferies Financial Group reduced their target price on Offerpad Solutions from $3.50 to $3.00 and set a "hold" rating on the stock in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods reduced their target price on Offerpad Solutions from $3.75 to $3.15 and set a "market perform" rating on the stock in a report on Wednesday, November 6th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $4.50 target price on shares of Offerpad Solutions in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Offerpad Solutions presently has an average rating of "Hold" and a consensus target price of $5.13.

Offerpad Solutions Stock Down 7.4 %

NYSE OPAD traded down $0.19 during trading hours on Friday, hitting $2.37. 72,679 shares of the company were exchanged, compared to its average volume of 48,797. The stock has a 50-day moving average price of $3.68 and a 200 day moving average price of $3.77. Offerpad Solutions Inc. has a 52 week low of $2.30 and a 52 week high of $9.93. The stock has a market cap of $64.88 million, a PE ratio of -1.08 and a beta of 2.25.

Offerpad Solutions (NYSE:OPAD - Get Free Report) 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 business had revenue of $208.07 million for the quarter, compared to the consensus estimate of $205.17 million. Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. During the same period in the prior year, the company posted ($0.73) EPS. As a group, sell-side analysts anticipate that Offerpad Solutions Inc. will post -2.16 earnings per share for the current year.

Offerpad Solutions Company 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.