Whitebox Advisors LLC cut its position in shares of Office Depot, Inc. (NASDAQ:ODP) by 92.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 285,592 shares of the company’s stock after selling 3,398,301 shares during the period. Whitebox Advisors LLC’s holdings in Office Depot were worth $1,020,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. LS Investment Advisors LLC raised its stake in Office Depot by 67.3% in the second quarter. LS Investment Advisors LLC now owns 30,705 shares of the company’s stock valued at $102,000 after buying an additional 12,357 shares during the period. CHICAGO TRUST Co NA raised its stake in Office Depot by 49.9% in the third quarter. CHICAGO TRUST Co NA now owns 28,783 shares of the company’s stock valued at $103,000 after buying an additional 9,585 shares during the period. Frontier Wealth Management LLC bought a new stake in Office Depot during the second quarter valued at about $113,000. Nisa Investment Advisors LLC raised its stake in Office Depot by 12.2% in the second quarter. Nisa Investment Advisors LLC now owns 36,700 shares of the company’s stock valued at $121,000 after buying an additional 4,000 shares during the period. Finally, Bourgeon Capital Management LLC bought a new stake in Office Depot during the second quarter valued at about $132,000. 93.04% of the stock is currently owned by hedge funds and other institutional investors.
Office Depot, Inc. (NASDAQ:ODP) traded up 0.547% during trading on Wednesday, reaching $4.595. The company’s stock had a trading volume of 560,235 shares. Office Depot, Inc. has a 52-week low of $3.01 and a 52-week high of $7.91. The stock has a 50-day moving average price of $4.71 and a 200 day moving average price of $3.94. The company has a market cap of $2.43 billion, a PE ratio of 8.147 and a beta of 3.35.
Office Depot (NASDAQ:ODP) last issued its earnings results on Wednesday, November 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.49 billion. Office Depot had a return on equity of 11.70% and a net margin of 2.41%. The business’s revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. On average, analysts expect that Office Depot, Inc. will post $0.41 EPS for the current year.
Several analysts have recently issued reports on ODP shares. Zacks Investment Research raised Office Depot from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a report on Monday, November 28th. Loop Capital began coverage on Office Depot in a research note on Tuesday, December 13th. They issued a “hold” rating on the stock. Finally, Telsey Advisory Group reduced their price objective on Office Depot from $5.00 to $4.50 and set a “market perform” rating on the stock in a research note on Friday, October 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $5.48.
In other Office Depot news, EVP Juliet Johansson sold 8,385 shares of the business’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $4.73, for a total value of $39,661.05. Following the sale, the executive vice president now directly owns 234,782 shares in the company, valued at $1,110,518.86. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.47% of the company’s stock.
About Office Depot
Office Depot, Inc (Office Depot) is a provider of office products and services. The Company sells products and services to consumers through three segments: North American Retail Division, North American Business Solutions Division and International Division. It operates under the Office Depot and OfficeMax brands.
Want to see what other hedge funds are holding ODP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Office Depot, Inc. (NASDAQ:ODP).