The ODP Co. (NASDAQ:ODP) Short Interest Down 27.4% in November

The ODP Co. (NASDAQ:ODP - Get Free Report) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 3,040,000 shares, a decline of 27.4% from the November 15th total of 4,190,000 shares. Approximately 10.5% of the shares of the stock are sold short. Based on an average daily volume of 559,500 shares, the days-to-cover ratio is presently 5.4 days.

ODP Stock Down 1.4 %

ODP stock traded down $0.40 during trading hours on Friday, reaching $27.57. The stock had a trading volume of 373,943 shares, compared to its average volume of 471,811. ODP has a 52 week low of $23.69 and a 52 week high of $58.98. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The business's 50 day moving average price is $28.46 and its 200-day moving average price is $32.56.

ODP (NASDAQ:ODP - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.71 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.89). ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The business had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter in the prior year, the company posted $1.88 EPS. The business's revenue for the quarter was down 11.3% on a year-over-year basis. As a group, equities analysts anticipate that ODP will post 3.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ODP. Clearline Capital LP raised its holdings in shares of ODP by 108.7% during the second quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer's stock worth $4,904,000 after purchasing an additional 65,033 shares during the last quarter. Weiss Asset Management LP raised its stake in shares of ODP by 2,219.3% during the 3rd quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer's stock valued at $16,992,000 after buying an additional 546,525 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of ODP by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 481,450 shares of the specialty retailer's stock valued at $14,323,000 after buying an additional 58,062 shares during the period. Thompson Siegel & Walmsley LLC boosted its stake in shares of ODP by 106.3% in the second quarter. Thompson Siegel & Walmsley LLC now owns 330,177 shares of the specialty retailer's stock worth $12,966,000 after buying an additional 170,149 shares during the last quarter. Finally, Creative Planning acquired a new stake in ODP during the third quarter worth about $690,000. 99.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ODP has been the topic of a number of research reports. UBS Group reduced their target price on shares of ODP from $30.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th. StockNews.com raised ODP from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th.

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.

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