Global X MANAGEMENT CO LLC Increases Holdings in Blucora, Inc. (BCOR)
Global X MANAGEMENT CO LLC raised its holdings in shares of Blucora, Inc. (NASDAQ:BCOR) by 970.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,860 shares of the information services provider’s stock after buying an additional 9,845 shares during the period. Global X MANAGEMENT CO LLC’s holdings in Blucora were worth $275,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Blucora by 26.3% in the third quarter. Principal Financial Group Inc. now owns 415,468 shares of the information services provider’s stock worth $10,511,000 after purchasing an additional 86,611 shares in the last quarter. IndexIQ Advisors LLC increased its stake in shares of Blucora by 83.0% in the third quarter. IndexIQ Advisors LLC now owns 50,098 shares of the information services provider’s stock worth $1,267,000 after purchasing an additional 22,722 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Blucora by 73.0% in the third quarter. American Century Companies Inc. now owns 311,897 shares of the information services provider’s stock worth $7,891,000 after purchasing an additional 131,575 shares in the last quarter. Adams Diversified Equity Fund Inc. purchased a new stake in shares of Blucora in the third quarter worth $989,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Blucora in the third quarter worth $204,000. 87.33% of the stock is owned by hedge funds and other institutional investors.
Blucora, Inc. (BCOR) opened at $19.95 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.23 and a current ratio of 2.23. Blucora, Inc. has a 12-month low of $13.40 and a 12-month high of $26.15. The firm has a market cap of $920.21, a price-to-earnings ratio of 15.71, a P/E/G ratio of 0.88 and a beta of -0.27.
Blucora (NASDAQ:BCOR) last issued its earnings results on Thursday, October 26th. The information services provider reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.07. Blucora had a negative net margin of 0.46% and a positive return on equity of 11.94%. The firm had revenue of $90.20 million during the quarter, compared to analyst estimates of $89.72 million. During the same quarter in the prior year, the business earned ($0.24) earnings per share. Blucora’s revenue for the quarter was up 8.4% on a year-over-year basis. analysts expect that Blucora, Inc. will post 1.14 EPS for the current year.
A number of analysts have recently issued reports on the stock. Benchmark Co. reissued a “buy” rating and issued a $30.00 price objective on shares of Blucora in a research note on Monday. Zacks Investment Research raised shares of Blucora from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research note on Wednesday, November 1st. TheStreet cut shares of Blucora from a “b-” rating to a “c” rating in a research note on Monday, October 30th. BidaskClub raised shares of Blucora from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 12th. Finally, Barrington Research increased their price objective on shares of Blucora from $23.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $27.00.
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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