Short Interest in Blucora, Inc. (BCOR) Decreases By 37.1%
Blucora, Inc. (NASDAQ:BCOR) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 745,709 shares, a decrease of 37.1% from the October 13th total of 1,185,177 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average daily volume of 420,069 shares, the short-interest ratio is currently 1.8 days.
Several large investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Blucora by 0.6% during the second quarter. BlackRock Inc. now owns 4,950,094 shares of the information services provider’s stock worth $104,942,000 after acquiring an additional 28,279 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Blucora by 28.0% during the second quarter. Vanguard Group Inc. now owns 4,629,622 shares of the information services provider’s stock worth $98,148,000 after acquiring an additional 1,013,363 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Blucora by 12.6% during the second quarter. First Trust Advisors LP now owns 1,994,802 shares of the information services provider’s stock worth $42,290,000 after acquiring an additional 223,249 shares in the last quarter. Numeric Investors LLC lifted its position in shares of Blucora by 9.0% during the second quarter. Numeric Investors LLC now owns 1,630,726 shares of the information services provider’s stock worth $34,571,000 after acquiring an additional 134,700 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Blucora by 36.2% in the second quarter. Renaissance Technologies LLC now owns 1,615,200 shares of the information services provider’s stock worth $34,242,000 after purchasing an additional 429,600 shares during the period. Hedge funds and other institutional investors own 87.04% of the company’s stock.
BCOR has been the topic of several research analyst reports. Zacks Investment Research downgraded Blucora from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Barrington Research upped their price objective on Blucora from $23.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. TheStreet downgraded Blucora from a “b-” rating to a “c” rating in a research note on Monday, October 30th. ValuEngine downgraded Blucora from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, BidaskClub upgraded Blucora from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 12th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.25.
Shares of Blucora (NASDAQ BCOR) opened at $20.05 on Tuesday. The stock has a market capitalization of $890.23, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 0.88 and a beta of -0.27. Blucora has a 12-month low of $13.00 and a 12-month high of $26.15. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.65.
Blucora (NASDAQ:BCOR) last posted its earnings results on Thursday, October 26th. The information services provider reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.07. The firm had revenue of $90.20 million for the quarter, compared to the consensus estimate of $89.72 million. Blucora had a positive return on equity of 11.94% and a negative net margin of 0.46%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.24) earnings per share. sell-side analysts forecast that Blucora will post 1.14 EPS for the current year.
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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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