Graham Capital Management L.P. Purchases Shares of 83,393 The ODP Corporation $ODP

Graham Capital Management L.P. purchased a new stake in shares of The ODP Corporation (NASDAQ:ODP) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 83,393 shares of the specialty retailer’s stock, valued at approximately $1,195,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. American Century Companies Inc. lifted its holdings in ODP by 1.5% in the first quarter. American Century Companies Inc. now owns 1,028,782 shares of the specialty retailer’s stock worth $14,742,000 after buying an additional 15,560 shares during the period. Neuberger Berman Group LLC lifted its holdings in ODP by 2.1% in the first quarter. Neuberger Berman Group LLC now owns 931,156 shares of the specialty retailer’s stock worth $13,358,000 after buying an additional 19,552 shares during the period. Allianz Asset Management GmbH lifted its holdings in ODP by 28.2% in the first quarter. Allianz Asset Management GmbH now owns 821,669 shares of the specialty retailer’s stock worth $11,775,000 after buying an additional 180,758 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in ODP by 105.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 788,084 shares of the specialty retailer’s stock worth $17,921,000 after buying an additional 404,041 shares during the period. Finally, Invesco Ltd. lifted its holdings in ODP by 25.4% in the first quarter. Invesco Ltd. now owns 706,511 shares of the specialty retailer’s stock worth $10,124,000 after buying an additional 143,291 shares during the period. Institutional investors own 99.56% of the company’s stock.

ODP Price Performance

ODP stock opened at $21.16 on Thursday. The firm has a 50 day moving average price of $19.15 and a 200-day moving average price of $16.88. The ODP Corporation has a 52-week low of $11.85 and a 52-week high of $32.21. The firm has a market capitalization of $636.49 million, a price-to-earnings ratio of 32.06, a PEG ratio of 0.50 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.45 and a current ratio of 0.94.

ODP (NASDAQ:ODP) last announced its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.18. ODP had a net margin of 0.39% and a return on equity of 11.22%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the business earned $0.56 EPS. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. Equities research analysts forecast that The ODP Corporation will post 3.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ODP. UBS Group raised their price objective on shares of ODP from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Wall Street Zen lowered shares of ODP from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.00.

ODP Company Profile

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.