Exchange Traded Concepts LLC Makes New $310,000 Investment in The ODP Co. (NASDAQ:ODP)

Exchange Traded Concepts LLC acquired a new stake in shares of The ODP Co. (NASDAQ:ODP) in the third quarter, HoldingsChannel.com reports. The firm acquired 10,421 shares of the specialty retailer’s stock, valued at approximately $310,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC lifted its holdings in ODP by 81.3% during the 2nd quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 422 shares during the last quarter. Quarry LP increased its holdings in shares of 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 buying an additional 688 shares in the last quarter. Innealta Capital LLC bought a new position in shares of ODP in the second quarter valued at approximately $68,000. Gladius Capital Management LP boosted its holdings in shares of ODP by 227.8% in the 2nd quarter. Gladius Capital Management LP now owns 2,180 shares of the specialty retailer’s stock worth $86,000 after acquiring an additional 1,515 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in ODP during the 3rd quarter worth approximately $104,000. Institutional investors and hedge funds own 99.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ODP shares. UBS Group reduced their price objective on ODP from $53.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. StockNews.com downgraded shares of ODP from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th.

Insider Buying and Selling

In other ODP news, Director Wendy Lee Schoppert bought 3,875 shares of the stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $25.77 per share, with a total value 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.60% of the stock is currently owned by insiders.

ODP Stock Up 0.7 %

Shares of ODP opened at $31.36 on Friday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.50 and a beta of 1.50. The ODP Co. has a 52 week low of $23.69 and a 52 week high of $58.98. 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 business’s fifty day moving average price is $29.31 and its two-hundred day moving average price is $37.80.

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

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.