SummerHaven Investment Management LLC Boosts Holdings in The ODP Co. (NASDAQ:ODP)

SummerHaven Investment Management LLC lifted its holdings in shares of The ODP Co. (NASDAQ:ODP) by 2.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 15,830 shares of the specialty retailer’s stock after purchasing an additional 399 shares during the period. SummerHaven Investment Management LLC’s holdings in ODP were worth $622,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greenlight Capital Inc. raised its holdings in ODP by 8.3% in the fourth quarter. Greenlight Capital Inc. now owns 1,748,100 shares of the specialty retailer’s stock valued at $98,418,000 after buying an additional 133,750 shares during the period. Vanguard Group Inc. increased its holdings in shares of ODP by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,982,531 shares of the specialty retailer’s stock valued at $211,273,000 after purchasing an additional 16,584 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of ODP by 15.7% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,207,623 shares of the specialty retailer’s stock valued at $67,989,000 after acquiring an additional 164,020 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of ODP in the first quarter valued at $1,706,000. Finally, Russell Investments Group Ltd. lifted its position in shares of ODP by 9.0% during the 4th quarter. Russell Investments Group Ltd. now owns 35,503 shares of the specialty retailer’s stock valued at $1,999,000 after acquiring an additional 2,920 shares during the last quarter. 99.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Wendy Lee Schoppert bought 3,875 shares of the company’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $25.77 per share, for a total transaction of $99,858.75. Following the acquisition, the director now owns 3,875 shares of the company’s stock, valued at approximately $99,858.75. The purchase was disclosed in a filing with the SEC, which is available at this link. 3.60% of the stock is owned by insiders.

ODP Price Performance

Shares of ODP stock traded up $0.70 during mid-day trading on Friday, reaching $29.64. The company’s stock had a trading volume of 66,349 shares, compared to its average volume of 430,554. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.43 and a current ratio of 0.90. The company has a market cap of $1.06 billion, a P/E ratio of 13.98, a PEG ratio of 0.42 and a beta of 1.59. The ODP Co. has a 1-year low of $23.69 and a 1-year high of $58.98. The firm’s 50-day moving average is $36.89 and its two-hundred day moving average is $44.41.

ODP (NASDAQ:ODP) last posted its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.64). The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.76 billion. ODP had a negative net margin of 0.34% and a positive return on equity of 15.93%. ODP’s revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 EPS. On average, research analysts predict that The ODP Co. will post 4.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ODP. StockNews.com lowered shares of ODP from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. UBS Group cut their target price on shares of ODP from $53.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th.

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.