Verition Fund Management LLC Increases Stock Position in The ODP Co. (NASDAQ:ODP)

Verition Fund Management LLC boosted its position in The ODP Co. (NASDAQ:ODP - Free Report) by 103.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,829 shares of the specialty retailer's stock after acquiring an additional 41,075 shares during the quarter. Verition Fund Management LLC owned 0.27% of ODP worth $2,405,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in 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 holdings in shares of ODP by 170.3% in the 2nd quarter. Quarry LP now owns 1,092 shares of the specialty retailer's stock valued at $43,000 after buying an additional 688 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of ODP in the 2nd quarter valued at $68,000. KBC Group NV raised its stake in ODP by 88.9% during the 3rd quarter. KBC Group NV now owns 1,844 shares of the specialty retailer's stock worth $55,000 after acquiring an additional 868 shares in the last quarter. Finally, Gladius Capital Management LP lifted its position in ODP by 227.8% in the second quarter. Gladius Capital Management LP now owns 2,180 shares of the specialty retailer's stock valued at $86,000 after acquiring an additional 1,515 shares during the last quarter. Hedge funds and other institutional investors own 99.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ODP. UBS Group cut their target price on ODP from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, November 7th. StockNews.com upgraded ODP from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th.

ODP Stock Performance

NASDAQ ODP traded down $0.08 during trading on Friday, reaching $25.93. The company's stock had a trading volume of 387,750 shares, compared to its average volume of 471,975. The ODP Co. has a twelve month low of $23.69 and a twelve month high of $58.98. The firm has a market cap of $780.96 million, a price-to-earnings ratio of -28.49, a P/E/G ratio of 0.55 and a beta of 1.40. The business's fifty day moving average price is $28.60 and its 200-day moving average price is $32.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92.

ODP (NASDAQ:ODP - Get Free Report) last posted 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). The company had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $1.82 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm's revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.88 earnings per share. As a group, analysts anticipate that The ODP Co. will post 3.26 EPS for the current fiscal 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.