Blucora (BCOR) Shares Down 5.8%

Blucora Inc (NASDAQ:BCOR) traded down 5.8% on Thursday . The stock traded as low as $32.36 and last traded at $32.39. 679,830 shares traded hands during mid-day trading, an increase of 70% from the average session volume of 400,834 shares. The stock had previously closed at $34.38.

Several equities research analysts have recently weighed in on the company. BidaskClub lowered Blucora from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 30th. JPMorgan Chase & Co. upgraded Blucora from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $42.00 to $45.00 in a research note on Friday, September 28th. Finally, Zacks Investment Research lowered Blucora from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 17th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Blucora has an average rating of “Buy” and a consensus price target of $38.21.

The firm has a market capitalization of $1.92 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.43 and a beta of -0.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.99 and a quick ratio of 2.99.

Blucora (NASDAQ:BCOR) last announced its earnings results on Wednesday, August 1st. The information services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.86 by $0.11. The business had revenue of $157.80 million for the quarter, compared to the consensus estimate of $154.46 million. Blucora had a return on equity of 14.82% and a net margin of 13.31%. Blucora’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. Equities research analysts anticipate that Blucora Inc will post 1.61 EPS for the current year.

In other news, CEO Robert D. Oros sold 6,075 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $34.30, for a total value of $208,372.50. Following the transaction, the chief executive officer now directly owns 51,111 shares of the company’s stock, valued at approximately $1,753,107.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John S. Clendening sold 79,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 17th. The stock was sold at an average price of $37.66, for a total value of $2,975,140.00. Following the completion of the transaction, the insider now directly owns 672,564 shares in the company, valued at $25,328,760.24. The disclosure for this sale can be found here. Insiders sold a total of 118,128 shares of company stock worth $4,433,481 over the last three months. 2.91% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Glenmede Trust Co. NA lifted its holdings in Blucora by 209.5% during the 2nd quarter. Glenmede Trust Co. NA now owns 1,188,640 shares of the information services provider’s stock worth $43,980,000 after buying an additional 804,545 shares in the last quarter. BlackRock Inc. lifted its holdings in Blucora by 7.7% during the 2nd quarter. BlackRock Inc. now owns 6,428,125 shares of the information services provider’s stock worth $237,841,000 after buying an additional 457,598 shares in the last quarter. WINTON GROUP Ltd lifted its holdings in Blucora by 1,622.0% during the 2nd quarter. WINTON GROUP Ltd now owns 310,177 shares of the information services provider’s stock worth $11,477,000 after buying an additional 292,164 shares in the last quarter. Harvest Capital Strategies LLC lifted its holdings in Blucora by 54.8% during the 1st quarter. Harvest Capital Strategies LLC now owns 800,000 shares of the information services provider’s stock worth $19,680,000 after buying an additional 283,354 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Blucora by 8.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,452,600 shares of the information services provider’s stock worth $90,746,000 after buying an additional 193,600 shares in the last quarter. 94.13% of the stock is currently owned by institutional investors and hedge funds.

Blucora Company Profile (NASDAQ:BCOR)

Blucora, Inc provides technology-enabled financial solutions to consumers, small business owners, and tax professionals in the United States. The company operates through two segments, Wealth Management and Tax Preparation. The Wealth Management segment offers an integrated platform of brokerage, investment advisory, and insurance services to financial advisors.

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