Weiss Asset Management LP Raises Position in The ODP Co. (NASDAQ:ODP)

Weiss Asset Management LP increased its stake in shares of The ODP Co. (NASDAQ:ODP - Free Report) by 2,219.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 571,151 shares of the specialty retailer's stock after purchasing an additional 546,525 shares during the quarter. Weiss Asset Management LP owned 1.90% of ODP worth $16,992,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of ODP by 5.0% in the 3rd quarter. State Street Corp now owns 1,542,725 shares of the specialty retailer's stock valued at $45,896,000 after purchasing an additional 74,015 shares in the last quarter. Mork Capital Management LLC raised its stake in ODP by 150.0% in the third quarter. Mork Capital Management LLC now owns 125,000 shares of the specialty retailer's stock valued at $3,719,000 after buying an additional 75,000 shares in the last quarter. Centiva Capital LP purchased a new stake in ODP during the 3rd quarter worth about $288,000. Paloma Partners Management Co acquired a new position in shares of ODP during the 3rd quarter worth about $279,000. Finally, Verition Fund Management LLC raised its position in shares of ODP by 103.3% during the 3rd quarter. Verition Fund Management LLC now owns 80,829 shares of the specialty retailer's stock worth $2,405,000 after acquiring an additional 41,075 shares in the last quarter. Hedge funds and other institutional investors own 99.56% of the company's stock.

ODP Stock Performance

NASDAQ ODP traded down $0.17 on Friday, reaching $25.84. The stock had a trading volume of 206,103 shares, compared to its average volume of 471,152. The stock has a market cap of $778.25 million, a P/E ratio of -28.52, a price-to-earnings-growth ratio of 0.55 and a beta of 1.40. The ODP Co. has a 12-month low of $23.69 and a 12-month high of $58.98. The business's 50-day moving average price is $28.67 and its 200 day moving average price is $32.98. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on ODP. StockNews.com raised ODP from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. UBS Group reduced their price target on shares of ODP from $30.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th.

ODP 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.