ODP (NASDAQ:ODP) Shares Down 5.1% - Time to Sell?

The ODP Corporation (NASDAQ:ODP - Get Free Report)'s share price was down 5.1% during mid-day trading on Thursday . The stock traded as low as $19.50 and last traded at $18.90. Approximately 173,209 shares traded hands during trading, a decline of 71% from the average daily volume of 598,536 shares. The stock had previously closed at $19.90.

Analyst Ratings Changes

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

ODP Stock Down 5.1%

The company has a market capitalization of $568.36 million, a price-to-earnings ratio of -13.59, a P/E/G ratio of 0.46 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. The firm's fifty day moving average price is $16.67 and its 200-day moving average price is $18.04.

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

Hedge Funds Weigh In On ODP

Several institutional investors and hedge funds have recently added to or reduced their stakes in ODP. Farther Finance Advisors LLC lifted its holdings in shares of ODP by 265,600.0% during the first 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 period. AlphaQuest LLC bought a new position in ODP during the 1st quarter worth $41,000. Headlands Technologies LLC bought a new position in ODP during the 1st quarter worth $47,000. Tower Research Capital LLC TRC lifted its holdings in ODP by 38.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer's stock worth $98,000 after buying an additional 1,198 shares during the period. Finally, State of Wyoming lifted its holdings 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. 99.56% of the stock is currently owned by institutional investors and hedge funds.

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.

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