Wedge Capital Management L L P NC Purchases 18,363 Shares of The ODP Co. (NASDAQ:ODP)

Wedge Capital Management L L P NC increased its stake in The ODP Co. (NASDAQ:ODP - Free Report) by 66.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,068 shares of the specialty retailer's stock after purchasing an additional 18,363 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.13% of ODP worth $1,371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CWM LLC lifted its holdings 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. Quarry LP boosted its position in ODP by 170.3% during the 2nd quarter. Quarry LP now owns 1,092 shares of the specialty retailer's stock worth $43,000 after acquiring an additional 688 shares during the period. Innealta Capital LLC purchased a new position in ODP during the 2nd quarter valued at about $68,000. Gladius Capital Management LP increased its holdings in shares of ODP by 227.8% in the 2nd quarter. Gladius Capital Management LP now owns 2,180 shares of the specialty retailer's stock valued at $86,000 after purchasing an additional 1,515 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of ODP in the third quarter worth approximately $104,000. Institutional investors and hedge funds own 99.56% of the company's stock.

ODP Stock Up 4.3 %

Shares of NASDAQ:ODP traded up $1.29 on Thursday, reaching $31.14. The company had a trading volume of 618,909 shares, compared to its average volume of 455,397. The company has a quick ratio of 0.43, a current ratio of 0.90 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.12 billion, a P/E ratio of 15.04, a P/E/G ratio of 0.50 and a beta of 1.50. The stock has a 50-day moving average price of $29.09 and a 200 day moving average price of $38.10. The ODP Co. has a twelve month low of $23.69 and a twelve month high of $58.98.

ODP (NASDAQ:ODP - Get Free Report) last announced its earnings results on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the company earned $0.99 EPS. The firm's revenue for the quarter was down 10.0% compared to the same quarter last year. On average, equities analysts expect that The ODP Co. will post 4.29 EPS for the current year.

Insider Buying and Selling

In other ODP news, Director Wendy Lee Schoppert acquired 3,875 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $25.77 per share, with a total value of $99,858.75. Following the transaction, the director now owns 3,875 shares of the company's stock, valued at approximately $99,858.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.60% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com lowered shares of ODP from a "buy" rating to a "hold" rating in a research note on Thursday, August 8th. UBS Group dropped their price target on shares of ODP from $53.00 to $30.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th.

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.