The ODP Co. (NASDAQ:ODP) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC boosted its holdings in The ODP Co. (NASDAQ:ODP) by 103.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,829 shares of the specialty retailer’s stock after purchasing an additional 41,075 shares during the quarter. Verition Fund Management LLC’s holdings in ODP were worth $2,405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. CWM LLC boosted 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 worth $37,000 after acquiring an additional 422 shares during the last quarter. Quarry LP raised its stake in ODP by 170.3% during the second quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock worth $43,000 after purchasing an additional 688 shares during the period. KBC Group NV increased its holdings in shares of 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 buying an additional 868 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of ODP in the 2nd quarter worth $68,000. Finally, Gladius Capital Management LP boosted its holdings 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. 99.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. StockNews.com raised ODP from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. 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.

ODP Stock Performance

ODP stock opened at $26.01 on Friday. The company has a market cap of $783.42 million, a PE ratio of -29.33, a P/E/G 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 company has a fifty day moving average price of $28.72 and a two-hundred day moving average price of $33.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.47.

ODP (NASDAQ:ODP) last posted its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the firm earned $1.88 earnings per share. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. Research analysts expect that The ODP Co. will post 3.26 earnings per share for the current year.

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.