Brian Bair Buys 122,920 Shares of Offerpad Solutions (NYSE:OPAD) Stock

Offerpad Solutions Inc. (NYSE:OPAD) CEO Brian Bair acquired 122,920 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average cost of $0.79 per share, for a total transaction of $97,106.80. Following the completion of the transaction, the chief executive officer owned 307,454 shares in the company, valued at approximately $242,888.66. This represents a 66.61% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brian Bair also recently made the following trade(s):

• On Tuesday, June 2nd, Brian Bair acquired 125,000 shares of Offerpad Solutions stock. The shares were purchased at an average cost of $0.82 per share, for a total transaction of $102,500.00.

Offerpad Solutions Stock Performance

Offerpad Solutions stock opened at $0.62 on Friday. The stock’s 50 day simple moving average is $0.73 and its two-hundred day simple moving average is $1.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 1.66. The stock has a market cap of $29.39 million, a price-to-earnings ratio of -0.51 and a beta of 2.42. Offerpad Solutions Inc. has a fifty-two week low of $0.57 and a fifty-two week high of $6.35.

Offerpad Solutions’s stock is set to reverse split before the market opens on Tuesday, June 9th. The 1-10 reverse split was announced on Thursday, June 4th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, June 8th.

Offerpad Solutions (NYSE:OPAD) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.01. The business had revenue of $80.08 million for the quarter, compared to analysts’ expectations of $86.25 million. Offerpad Solutions had a negative return on equity of 112.51% and a negative net margin of 8.51%. As a group, analysts expect that Offerpad Solutions Inc. will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Offerpad Solutions

Hedge funds have recently made changes to their positions in the stock. Tudor Investment Corp ET AL bought a new stake in shares of Offerpad Solutions in the 3rd quarter worth approximately $79,000. Engineers Gate Manager LP purchased a new position in Offerpad Solutions in the 4th quarter worth approximately $27,000. AQR Capital Management LLC raised its holdings in Offerpad Solutions by 69.6% in the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock worth $40,000 after acquiring an additional 9,979 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in Offerpad Solutions in the 4th quarter worth approximately $32,000. Finally, Barclays PLC raised its holdings in Offerpad Solutions by 190.5% in the 4th quarter. Barclays PLC now owns 33,345 shares of the company’s stock worth $40,000 after acquiring an additional 21,868 shares during the last quarter. 39.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on OPAD shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Offerpad Solutions in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods dropped their price target on Offerpad Solutions from $1.00 to $0.85 and set a “market perform” rating on the stock in a research report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Offerpad Solutions has an average rating of “Hold” and an average price target of $2.62.

Offerpad Solutions Company Profile

Offerpad Solutions, Inc, listed on the NYSE under the ticker OPAD, is a technology-driven real estate platform specializing in the direct purchase, renovation and resale of single-family homes. Since its founding in 2015 and headquartered in Chandler, Arizona, the company leverages proprietary data analytics and algorithms to deliver fast, all-cash offers and flexible closing timelines to homeowners in select markets across the United States.

The company’s core services include its Instant Offer program for home acquisitions, in-house renovation and repair services to prepare properties for resale, and a suite of ancillary offerings such as title and escrow, home trade-in solutions and mortgage origination through strategic partnerships.