The ODP Corporation $ODP Shares Bought by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC boosted its position in shares of The ODP Corporation (NASDAQ:ODP) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,433 shares of the specialty retailer’s stock after buying an additional 1,088 shares during the quarter. SummerHaven Investment Management LLC’s holdings in ODP were worth $407,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in ODP by 265,600.0% during the first quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer’s stock valued at $37,000 after buying an additional 2,656 shares during the period. AlphaQuest LLC acquired a new stake in ODP during the first quarter valued at $41,000. Headlands Technologies LLC acquired a new stake in ODP during the first quarter valued at $47,000. Parallel Advisors LLC lifted its holdings in ODP by 3,033.3% during the second quarter. Parallel Advisors LLC now owns 2,820 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 2,730 shares in the last quarter. Finally, State of Wyoming lifted its holdings in ODP by 232.5% during the first quarter. State of Wyoming now owns 5,859 shares of the specialty retailer’s stock valued at $84,000 after purchasing an additional 4,097 shares in the last quarter. Institutional investors and hedge funds own 99.56% of the company’s stock.

ODP Stock Performance

NASDAQ:ODP opened at $27.87 on Tuesday. The company’s 50-day moving average price is $20.94 and its 200-day moving average price is $17.71. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.30. The company has a market cap of $838.44 million, a P/E ratio of 42.23, a P/E/G ratio of 0.69 and a beta of 1.40. The ODP Corporation has a twelve month low of $11.85 and a twelve month high of $32.21.

ODP (NASDAQ:ODP) last posted its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.18. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. ODP had a net margin of 0.39% and a return on equity of 11.22%. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period last year, the firm posted $0.56 earnings per share. On average, sell-side analysts forecast that The ODP Corporation will post 3.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ODP has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of ODP from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Noble Financial downgraded shares of ODP from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, September 23rd. Finally, UBS Group increased their price objective on shares of ODP from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.00.

About ODP

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.