Divisadero Street Capital Management LP Purchases Shares of 68,328 The ODP Co. (NASDAQ:ODP)

Divisadero Street Capital Management LP acquired a new stake in The ODP Co. (NASDAQ:ODP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 68,328 shares of the specialty retailer's stock, valued at approximately $1,554,000. Divisadero Street Capital Management LP owned about 0.23% of ODP at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ODP. Russell Investments Group Ltd. increased its position in shares of ODP by 65.3% in the 4th quarter. Russell Investments Group Ltd. now owns 53,187 shares of the specialty retailer's stock worth $1,209,000 after purchasing an additional 21,011 shares during the last quarter. GAMMA Investing LLC increased its stake in ODP by 380.1% during the fourth quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer's stock valued at $88,000 after purchasing an additional 3,071 shares during the last quarter. Barclays PLC raised its holdings in shares of ODP by 114.3% during the third quarter. Barclays PLC now owns 99,671 shares of the specialty retailer's stock worth $2,965,000 after purchasing an additional 53,160 shares during the period. Wells Fargo & Company MN lifted its position in shares of ODP by 16.2% in the 4th quarter. Wells Fargo & Company MN now owns 19,539 shares of the specialty retailer's stock worth $444,000 after buying an additional 2,717 shares during the last quarter. Finally, Amundi boosted its holdings in shares of ODP by 175.9% in the 4th quarter. Amundi now owns 16,474 shares of the specialty retailer's stock valued at $368,000 after buying an additional 10,504 shares during the period. 99.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of ODP from a "hold" rating to a "buy" rating in a research note on Friday.

ODP Stock Performance

NASDAQ:ODP traded up $1.76 during midday trading on Friday, reaching $17.18. 866,944 shares of the company traded hands, compared to its average volume of 619,916. The firm has a market capitalization of $512.27 million, a price-to-earnings ratio of -18.88, a price-to-earnings-growth ratio of 0.30 and a beta of 1.29. The company has a fifty day moving average price of $14.22 and a 200 day moving average price of $20.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.47. The ODP Co. has a twelve month low of $11.85 and a twelve month high of $43.42.

ODP (NASDAQ:ODP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The specialty retailer reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.41. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company's revenue for the quarter was down 9.2% compared to the same quarter last year. On average, analysts expect that The ODP Co. will post 3.26 EPS for the current fiscal year.

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.