Blucora, Inc. (BCOR) Position Decreased by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC lowered its position in shares of Blucora, Inc. (NASDAQ:BCOR) by 16.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,361 shares of the information services provider’s stock after selling 2,470 shares during the period. Wedge Capital Management L L P NC’s holdings in Blucora were worth $262,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of BCOR. Teachers Advisors LLC raised its position in Blucora by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 83,411 shares of the information services provider’s stock worth $1,230,000 after buying an additional 873 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Blucora by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the information services provider’s stock worth $273,000 after buying an additional 400 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Blucora during the first quarter worth about $2,914,000. Great West Life Assurance Co. Can raised its position in Blucora by 5.7% in the first quarter. Great West Life Assurance Co. Can now owns 52,662 shares of the information services provider’s stock worth $908,000 after buying an additional 2,857 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Blucora by 7.3% in the first quarter. First Trust Advisors LP now owns 1,771,553 shares of the information services provider’s stock worth $30,648,000 after buying an additional 120,372 shares during the last quarter. Institutional investors and hedge funds own 84.51% of the company’s stock.
Blucora, Inc. (NASDAQ:BCOR) opened at 22.65 on Tuesday. The firm’s market capitalization is $1.02 billion. The company’s 50-day moving average price is $21.72 and its 200-day moving average price is $19.20. Blucora, Inc. has a 12-month low of $10.22 and a 12-month high of $24.00.
Blucora (NASDAQ:BCOR) last issued its quarterly earnings results on Thursday, July 27th. The information services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.04. Blucora had a positive return on equity of 11.92% and a negative net margin of 8.03%. The business had revenue of $139.20 million for the quarter, compared to analyst estimates of $136.07 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts expect that Blucora, Inc. will post $1.36 EPS for the current fiscal year.
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BCOR has been the topic of a number of research analyst reports. Barrington Research lifted their target price on Blucora from $23.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Benchmark Co. lifted their target price on Blucora from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Zacks Investment Research lowered Blucora from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 11th. BidaskClub raised Blucora from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Finally, ValuEngine raised Blucora from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Blucora has a consensus rating of “Buy” and an average price target of $25.50.
In other news, CFO Eric Michael Emans sold 88,400 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $20.69, for a total transaction of $1,828,996.00. Following the transaction, the chief financial officer now owns 160,457 shares of the company’s stock, valued at $3,319,855.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 257,430 shares of company stock worth $5,456,804 in the last ninety days. 14.10% of the stock is currently owned by insiders.
Blucora Company Profile
Blucora, Inc is a provider of technology-enabled financial solutions to consumers, small business owners and tax professionals. The Company operates through the Wealth Management and Tax Preparation segments. The Company’s Wealth Management segment consists of HD Vest, which provides financial advisors with an integrated platform of brokerage, investment advisory and insurance services to assist in making each financial advisor a financial service center for his/her clients The Company’s Tax Preparation segment provides digital do-it-yourself (DDIY) tax preparation solutions for consumers, small business owners and tax professionals.
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