Headlands Technologies LLC Makes New $47,000 Investment in The ODP Corporation (NASDAQ:ODP)

Headlands Technologies LLC acquired a new position in shares of The ODP Corporation (NASDAQ:ODP) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 3,246 shares of the specialty retailer’s stock, valued at approximately $47,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake in shares of ODP by 265,600.0% during the 1st quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer’s stock worth $37,000 after buying an additional 2,656 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of ODP by 38.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer’s stock worth $98,000 after buying an additional 1,198 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of ODP during the 4th quarter worth approximately $143,000. ProShare Advisors LLC increased its stake in ODP by 34.9% in the 4th quarter. ProShare Advisors LLC now owns 9,799 shares of the specialty retailer’s stock valued at $223,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in ODP in the 1st quarter valued at approximately $143,000. 99.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ODP. Wall Street Zen downgraded ODP from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. UBS Group raised their price objective on ODP from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th.

ODP Stock Performance

NASDAQ ODP opened at $19.42 on Wednesday. The ODP Corporation has a 1-year low of $11.85 and a 1-year high of $32.21. The business has a 50 day moving average price of $18.13 and a 200 day moving average price of $16.95. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.94 and a quick ratio of 0.45. The company has a market capitalization of $584.15 million, a P/E ratio of 29.42, a PEG ratio of 0.45 and a beta of 1.38.

ODP (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.18. ODP had a return on equity of 11.22% and a net margin of 0.39%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the firm earned $0.56 earnings per share. The business’s revenue was down 7.6% on a year-over-year basis. Sell-side analysts expect that The ODP Corporation 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.