Wilmington Savings Fund Society FSB Acquires Shares of 595,238 Offerpad Solutions Inc. (NYSE:OPAD)

Wilmington Savings Fund Society FSB bought a new stake in shares of Offerpad Solutions Inc. (NYSE:OPAD - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 595,238 shares of the company's stock, valued at approximately $2,417,000. Wilmington Savings Fund Society FSB owned approximately 2.17% of Offerpad Solutions at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC boosted its position in shares of Offerpad Solutions by 133.3% in the 3rd quarter. Barclays PLC now owns 20,813 shares of the company's stock worth $83,000 after purchasing an additional 11,891 shares in the last quarter. Rhumbline Advisers raised its stake in Offerpad Solutions by 4,655.6% during the second quarter. Rhumbline Advisers now owns 11,461 shares of the company's stock valued at $51,000 after buying an additional 11,220 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Offerpad Solutions in the second quarter worth $111,000. 39.44% of the stock is owned by hedge funds and other institutional investors.

Offerpad Solutions Stock Performance

Shares of OPAD stock traded down $0.23 during mid-day trading on Friday, reaching $3.99. 27,314 shares of the company's stock traded hands, compared to its average volume of 50,739. The firm has a market capitalization of $109.22 million, a PE ratio of -1.82 and a beta of 2.14. Offerpad Solutions Inc. has a 12 month low of $2.57 and a 12 month high of $11.22. The firm has a 50 day moving average price of $3.65 and a two-hundred day moving average price of $4.01.

Offerpad Solutions (NYSE:OPAD - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.05). The company had revenue of $208.07 million for the quarter, compared to analysts' expectations 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 previous year, the firm earned ($0.73) earnings per share. As a group, equities analysts expect that Offerpad Solutions Inc. will post -2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on OPAD shares. Keefe, Bruyette & Woods reduced their price objective on shares of Offerpad Solutions from $3.75 to $3.15 and set a "market perform" rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group reduced their price target on shares of Offerpad Solutions from $3.50 to $3.00 and set a "hold" rating for the company in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $5.33.

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.