Royce & Associates LP Sells 235,254 Shares of The ODP Corporation (NASDAQ:ODP)

Royce & Associates LP lowered its holdings in The ODP Corporation (NASDAQ:ODP - Free Report) by 85.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,157 shares of the specialty retailer's stock after selling 235,254 shares during the quarter. Royce & Associates LP owned 0.13% of ODP worth $575,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in shares of ODP by 265,600.0% during the 1st quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer's stock worth $37,000 after purchasing an additional 2,656 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in ODP by 38.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer's stock valued at $98,000 after acquiring an additional 1,198 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of ODP during the 4th quarter worth $143,000. KLP Kapitalforvaltning AS purchased a new stake in shares of ODP in the fourth quarter valued at $150,000. Finally, ProShare Advisors LLC increased its stake in ODP by 34.9% in the fourth quarter. ProShare Advisors LLC now owns 9,799 shares of the specialty retailer's stock valued at $223,000 after purchasing an additional 2,536 shares during the last quarter. 99.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of ODP from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd.

ODP Stock Up 1.5%

ODP traded up $0.27 on Wednesday, reaching $18.72. 863,001 shares of the company traded hands, compared to its average volume of 401,358. The stock's 50 day moving average price is $17.76 and its 200-day moving average price is $17.33. The ODP Corporation has a 52-week low of $11.85 and a 52-week high of $43.31. The company has a market cap of $563.10 million, a price-to-earnings ratio of -13.47, a PEG ratio of 0.44 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.94 and a quick ratio of 0.45.

ODP (NASDAQ:ODP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The specialty retailer reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.41. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. ODP had a negative net margin of 0.69% and a positive return on equity of 11.50%. ODP's revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. On average, sell-side analysts expect that The ODP Corporation will post 3.26 EPS for the current fiscal year.

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.