Office Depot, Inc. (ODP) Shares Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd grew its stake in shares of Office Depot, Inc. (NASDAQ:ODP) by 430.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 141,098 shares of the specialty retailer’s stock after purchasing an additional 114,514 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Office Depot were worth $796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Office Depot by 15,485.9% during the first quarter. BlackRock Inc. now owns 54,498,187 shares of the specialty retailer’s stock worth $254,234,000 after purchasing an additional 54,148,524 shares in the last quarter. Vanguard Group Inc. raised its holdings in Office Depot by 3.0% during the second quarter. Vanguard Group Inc. now owns 44,341,527 shares of the specialty retailer’s stock worth $250,086,000 after purchasing an additional 1,286,833 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Office Depot by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 34,029,233 shares of the specialty retailer’s stock worth $191,925,000 after purchasing an additional 5,677,685 shares in the last quarter. State Street Corp raised its holdings in Office Depot by 2.1% during the second quarter. State Street Corp now owns 18,758,006 shares of the specialty retailer’s stock worth $105,796,000 after purchasing an additional 384,531 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Office Depot by 7.5% during the second quarter. Northern Trust Corp now owns 13,355,039 shares of the specialty retailer’s stock worth $75,322,000 after purchasing an additional 932,852 shares in the last quarter. 94.36% of the stock is currently owned by institutional investors.

A number of equities analysts have recently commented on the stock. ValuEngine cut shares of Office Depot from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research cut shares of Office Depot from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub cut shares of Office Depot from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Bank of America Corporation reaffirmed a “buy” rating and issued a $6.00 target price on shares of Office Depot in a report on Tuesday, September 5th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $4.15 target price (down from $5.00) on shares of Office Depot in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Office Depot presently has an average rating of “Hold” and a consensus target price of $5.08.

In related news, insider Michael R. Allison sold 360,000 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $3.83, for a total transaction of $1,378,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.43% of the company’s stock.

Shares of Office Depot, Inc. (NASDAQ:ODP) traded up 0.27% during trading on Wednesday, hitting $3.77. 574,729 shares of the stock were exchanged. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 4.88 and a beta of 2.89. The firm has a 50 day moving average of $4.25 and a 200-day moving average of $4.96. Office Depot, Inc. has a 12-month low of $3.01 and a 12-month high of $6.26.

Office Depot (NASDAQ:ODP) last posted its quarterly earnings results on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.44 billion. Office Depot had a net margin of 2.49% and a return on equity of 13.97%. The business’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share. On average, analysts forecast that Office Depot, Inc. will post $0.46 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Office Depot, Inc. (ODP) Shares Bought by Dynamic Technology Lab Private Ltd” was published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark & copyright law. The correct version of this story can be read at https://sportsperspectives.com/2017/10/18/office-depot-inc-odp-shares-bought-by-dynamic-technology-lab-private-ltd.html.

About Office Depot

Office Depot, Inc provides a selection of products and services to consumers and businesses of various sizes. The Company’s segments include North American Retail Division and North American Business Solutions Division. The North American Retail Division includes retail stores in the United States, including Puerto Rico and the United States Virgin Islands, which offer office supplies, technology products and solutions, business machines and related supplies, facilities products and office furniture.

Institutional Ownership by Quarter for Office Depot (NASDAQ:ODP)

Receive News & Ratings for Office Depot Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Office Depot Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply