Linden Thomas Advisory Services LLC Sells 314 Shares of The ODP Co. (NASDAQ:ODP)

Linden Thomas Advisory Services LLC cut its stake in The ODP Co. (NASDAQ:ODP) by 1.1% in the 4th quarter, Holdings Channel reports. The firm owned 27,527 shares of the specialty retailer’s stock after selling 314 shares during the period. Linden Thomas Advisory Services LLC’s holdings in ODP were worth $1,550,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ODP. Illinois Municipal Retirement Fund bought a new position in shares of ODP during the third quarter valued at approximately $931,000. American Century Companies Inc. raised its position in shares of ODP by 11.7% in the 3rd quarter. American Century Companies Inc. now owns 524,628 shares of the specialty retailer’s stock worth $24,212,000 after purchasing an additional 54,836 shares during the last quarter. Quantedge Capital Pte Ltd boosted its stake in ODP by 195.5% in the 3rd quarter. Quantedge Capital Pte Ltd now owns 32,500 shares of the specialty retailer’s stock worth $1,500,000 after purchasing an additional 21,500 shares in the last quarter. CX Institutional purchased a new stake in ODP during the 3rd quarter valued at about $3,212,000. Finally, Pacer Advisors Inc. increased its stake in ODP by 49.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,481,692 shares of the specialty retailer’s stock valued at $83,419,000 after purchasing an additional 493,233 shares in the last quarter. 99.56% of the stock is owned by hedge funds and other institutional investors.

ODP Stock Performance

ODP stock traded down $0.83 during mid-day trading on Wednesday, reaching $51.48. 57,254 shares of the stock traded hands, compared to its average volume of 306,430. The ODP Co. has a 12-month low of $39.36 and a 12-month high of $58.98. The business’s 50-day moving average is $51.90 and its 200-day moving average is $50.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.54. The stock has a market capitalization of $1.89 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 0.62 and a beta of 1.62.

ODP (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.92 EPS for the quarter, beating the consensus estimate of $0.76 by $0.16. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. ODP had a net margin of 1.77% and a return on equity of 19.45%. The business’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 EPS. As a group, sell-side analysts predict that The ODP Co. will post 5.71 EPS for the current fiscal year.

ODP announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 28th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 48.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Diego Anthony Scaglione sold 25,000 shares of ODP stock in a transaction on Friday, March 1st. The stock was sold at an average price of $55.00, for a total transaction of $1,375,000.00. Following the transaction, the chief financial officer now directly owns 96,104 shares in the company, valued at $5,285,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ODP shares. TheStreet downgraded shares of ODP from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. StockNews.com raised ODP from a “hold” rating to a “buy” rating in a research report on Tuesday, March 12th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

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.