23,396 Shares in Offerpad Solutions Inc. (NYSE:OPAD) Acquired by Cerity Partners LLC

Cerity Partners LLC purchased a new position in shares of Offerpad Solutions Inc. (NYSE:OPAD) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 23,396 shares of the company’s stock, valued at approximately $240,000.

Separately, Citigroup Inc. grew its position in Offerpad Solutions by 60,888.9% during the 3rd quarter. Citigroup Inc. now owns 21,956 shares of the company’s stock worth $214,000 after acquiring an additional 21,920 shares during the last quarter. 39.44% of the stock is owned by hedge funds and other institutional investors.

Offerpad Solutions Stock Up 2.1 %

OPAD stock opened at $8.29 on Monday. The business’s fifty day moving average is $8.00 and its 200-day moving average is $8.74. The company has a market cap of $226.15 million, a P/E ratio of -1.78 and a beta of 2.07. Offerpad Solutions Inc. has a twelve month low of $6.00 and a twelve month high of $15.19.

Offerpad Solutions (NYSE:OPAD) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.15). The company had revenue of $240.46 million during the quarter, compared to analyst estimates of $256.60 million. Offerpad Solutions had a negative net margin of 8.92% and a negative return on equity of 93.45%. During the same period last year, the company earned ($7.35) EPS. Research analysts anticipate that Offerpad Solutions Inc. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OPAD has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price objective on Offerpad Solutions from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $12.00 price objective on shares of Offerpad Solutions in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.40.

About Offerpad Solutions

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.