Cerity Partners LLC Acquires Shares of 23,396 Offerpad Solutions Inc. (NYSE:OPAD)

Cerity Partners LLC acquired a new stake in Offerpad Solutions Inc. (NYSE:OPAD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 23,396 shares of the company’s stock, valued at approximately $240,000. Cerity Partners LLC owned about 0.09% of Offerpad Solutions at the end of the most recent quarter.

Separately, Citigroup Inc. increased its holdings in shares of Offerpad Solutions by 60,888.9% in the third quarter. Citigroup Inc. now owns 21,956 shares of the company’s stock valued at $214,000 after purchasing an additional 21,920 shares during the period. 39.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OPAD. JMP Securities reissued a “market outperform” rating and issued a $12.00 target price on shares of Offerpad Solutions in a report on Friday, April 12th. JPMorgan Chase & Co. dropped their target price on Offerpad Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group reduced 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. 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.40.

Offerpad Solutions Price Performance

Shares of NYSE:OPAD opened at $8.29 on Monday. The firm has a market capitalization of $226.15 million, a PE ratio of -1.78 and a beta of 2.07. The business has a 50-day moving average of $8.00 and a two-hundred day moving average of $8.74. Offerpad Solutions Inc. has a 12 month low of $6.00 and a 12 month high of $15.19.

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