Headlands Technologies LLC Raises Holdings in The ODP Co. (NASDAQ:ODP)

Headlands Technologies LLC raised its position in The ODP Co. (NASDAQ:ODP) by 125.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 9,383 shares of the specialty retailer’s stock after purchasing an additional 5,217 shares during the period. Headlands Technologies LLC’s holdings in ODP were worth $368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oliver Luxxe Assets LLC raised its position in shares of ODP by 1.5% in the first quarter. Oliver Luxxe Assets LLC now owns 22,070 shares of the specialty retailer’s stock valued at $1,171,000 after buying an additional 334 shares during the last quarter. ProShare Advisors LLC raised its holdings in ODP by 5.7% in the 1st quarter. ProShare Advisors LLC now owns 6,462 shares of the specialty retailer’s stock valued at $343,000 after acquiring an additional 348 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in ODP by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 29,114 shares of the specialty retailer’s stock worth $1,544,000 after purchasing an additional 375 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of ODP by 2.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 15,830 shares of the specialty retailer’s stock worth $622,000 after purchasing an additional 399 shares during the last quarter. Finally, CWM LLC grew its position in shares of ODP by 81.3% in the second quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 422 shares in the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Insider Activity at ODP

In related news, Director Wendy Lee Schoppert bought 3,875 shares of the stock in a transaction on Friday, August 9th. The stock was bought at an average price of $25.77 per share, with a total value of $99,858.75. Following the completion of the purchase, the director now directly owns 3,875 shares in the company, valued at approximately $99,858.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.60% of the stock is owned by insiders.

Analysts Set New Price Targets

ODP has been the topic of a number of analyst reports. UBS Group reduced their price objective on ODP from $53.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. StockNews.com lowered ODP from a “buy” rating to a “hold” rating in a report on Thursday, August 8th.

ODP Stock Performance

ODP stock opened at $28.45 on Friday. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.90 and a quick ratio of 0.43. The firm has a 50 day simple moving average of $33.87 and a 200-day simple moving average of $41.95. The ODP Co. has a 1-year low of $23.69 and a 1-year high of $58.98.

ODP (NASDAQ:ODP) last posted its earnings results on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.64). ODP had a positive return on equity of 15.93% and a negative net margin of 0.34%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the business earned $0.99 EPS. ODP’s revenue was down 10.0% compared to the same quarter last year. On average, analysts expect that The ODP Co. will post 4.29 EPS for the current year.

ODP Company Profile

The ODP Corporation provides business services and supplies, products, and digital workplace technology solutions for small, medium, and enterprise businesses in the United States, Puerto Rico, and the U.S. Virgin Islands. The company operates through four divisions: ODP Business Solutions, Office Depot, Veyer, and Varis.