Optimize Financial Inc Purchases Shares of 18,041 The ODP Co. (NASDAQ:ODP)

Optimize Financial Inc bought a new stake in The ODP Co. (NASDAQ:ODP) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 18,041 shares of the specialty retailer’s stock, valued at approximately $410,000.

A number of other hedge funds have also made changes to their positions in ODP. GAMMA Investing LLC raised its stake in shares of ODP by 380.1% in the fourth quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock worth $88,000 after acquiring an additional 3,071 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in ODP in the 4th quarter valued at $150,000. Inceptionr LLC acquired a new stake in shares of ODP in the 4th quarter valued at $223,000. New York State Common Retirement Fund raised its position in shares of ODP by 17.6% during the fourth quarter. New York State Common Retirement Fund now owns 11,340 shares of the specialty retailer’s stock worth $258,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Amundi lifted its stake in shares of ODP by 175.9% during the fourth quarter. Amundi now owns 16,474 shares of the specialty retailer’s stock valued at $368,000 after acquiring an additional 10,504 shares during the period. Institutional investors and hedge funds own 99.56% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut ODP from a “buy” rating to a “hold” rating in a report on Friday, February 28th.

ODP Price Performance

Shares of ODP stock opened at $13.43 on Friday. The firm’s 50 day moving average price is $16.22 and its two-hundred day moving average price is $22.97. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The stock has a market cap of $400.46 million, a PE ratio of -14.76, a PEG ratio of 0.30 and a beta of 1.45. The ODP Co. has a 52-week low of $11.85 and a 52-week high of $52.69.

ODP (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, February 26th. The specialty retailer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.14). The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. As a group, analysts forecast that The ODP Co. will post 3.26 EPS for the current year.

About ODP

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.