Northern Trust Corp Purchases 17,322 Shares of Offerpad Solutions Inc. (NYSE:OPAD)

Northern Trust Corp grew its holdings in shares of Offerpad Solutions Inc. (NYSE:OPAD) by 22.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 95,866 shares of the company’s stock after purchasing an additional 17,322 shares during the period. Northern Trust Corp owned approximately 0.35% of Offerpad Solutions worth $273,000 as of its most recent SEC filing.

Separately, SG Americas Securities LLC purchased a new stake in Offerpad Solutions during the 4th quarter valued at $87,000. Institutional investors and hedge funds own 39.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OPAD shares. Citigroup downgraded shares of Offerpad Solutions to a “market perform” rating in a research report on Tuesday, May 6th. The Goldman Sachs Group dropped their price objective on shares of Offerpad Solutions from $2.00 to $1.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Citizens Jmp cut shares of Offerpad Solutions from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 6th. JMP Securities restated a “market perform” rating on shares of Offerpad Solutions in a research report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Offerpad Solutions from $2.25 to $1.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 7th. Six analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.38.

Offerpad Solutions Stock Performance

Shares of Offerpad Solutions stock opened at $0.98 on Monday. The firm has a 50-day simple moving average of $1.28 and a two-hundred day simple moving average of $2.29. The company has a market cap of $26.88 million, a P/E ratio of -0.44 and a beta of 2.24. Offerpad Solutions Inc. has a fifty-two week low of $0.92 and a fifty-two week high of $5.35.

Offerpad Solutions (NYSE:OPAD) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.04. The company had revenue of $160.70 million during the quarter, compared to analysts’ expectations of $180.51 million. Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. Equities 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.