Bridgeway Capital Management LLC Has $5.16 Million Stock Holdings in The ODP Corporation $ODP

Key Points

• Bridgeway Capital Management LLC reduced its stake in The ODP Corporation by 15.3%, selling over 65,000 shares and now holding 360,123 shares worth approximately $5.16 million.
• ODP's recent earnings report showed an EPS of $0.51, surpassing estimates of $0.33, although revenue dropped 7.6% year-over-year.
• Analysts have mixed views on ODP, with UBS raising the price target to $19.00 while maintaining a "neutral" rating, and a consensus rating of "Hold" across the board.

Bridgeway Capital Management LLC cut its holdings in shares of The ODP Corporation (NASDAQ:ODP - Free Report) by 15.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 360,123 shares of the specialty retailer's stock after selling 65,264 shares during the period. Bridgeway Capital Management LLC owned 1.20% of ODP worth $5,161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ODP. Farther Finance Advisors LLC raised 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 in the last quarter. AlphaQuest LLC bought a new position in ODP during the 1st quarter worth $41,000. Headlands Technologies LLC acquired a new stake in ODP during the 1st quarter worth about $47,000. State of Wyoming raised its stake in ODP by 232.5% during the 1st quarter. State of Wyoming now owns 5,859 shares of the specialty retailer's stock worth $84,000 after buying an additional 4,097 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position 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 in the last quarter. 99.56% of the stock is currently owned by institutional investors and hedge funds.

ODP Stock Up 0.1%

Shares of NASDAQ:ODP traded up $0.01 during trading on Wednesday, reaching $20.64. The stock had a trading volume of 98,073 shares, compared to its average volume of 587,677. The company has a market capitalization of $620.97 million, a P/E ratio of 31.27, a PEG ratio of 0.53 and a beta of 1.40. The ODP Corporation has a one year low of $11.85 and a one year high of $32.21. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.30. The firm's 50-day simple moving average is $19.39 and its 200 day simple moving average is $16.93.

ODP (NASDAQ:ODP - Get Free Report) last posted 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 analysts' expectations of $1.59 billion. During the same period in the prior year, the business posted $0.56 earnings per share. The firm's revenue for the quarter was down 7.6% on a year-over-year basis. As a group, research analysts expect that The ODP Corporation will post 3.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ODP shares. Wall Street Zen lowered shares of ODP from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. UBS Group boosted 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. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $19.00.

ODP 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.