46 hedge funds buy Office Depot, Inc. (ODP) for the first time

Office Depot, Inc. (NASDAQ:ODP) has made a 3% comeback from a 12-month low price of $2.00. It was seen 3% higher, changing the price to $2.06, when the closing bell rang on 04/10/2018. At recent session, the prices were hovering between $2 and $2.09. This company shares are 50.49% off its target price of $3.1 and the current market capitalization stands at $1.17B. The recent change has given its price a -22.58% deficit over SMA 50 and -67.07% deficit over its 52-week high. The stock witnessed -16.26% declines, -39.41% declines and -47.72% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found ODP’s volatility during a week at 4.1% and during a month it has been found around 4.85%.

Office Depot, Inc. (ODP) Top Holders

Institutional investors currently hold around $1.03 billion or 94.3% in ODP stock. Look at its top three institutional owners. Blackrock Inc. owns $107.4 million in Office Depot, Inc., which represents roughly 9.18% of the company’s market cap and approximately 10.41% of the institutional ownership. Similar statistics are true for the second largest owner, Hotchkis & Wiley Capital Management Llc, which owns 44,724,143 shares of the stock are valued at $89.45 million. The third largest holder is Vanguard Group Inc, which currently holds $87.23 million worth of this stock and that ownership represents nearly 7.46% of its market capitalization.

Office Depot, Inc. 13F Filings

At the end of 12/31/2017 reporting period, 134 institutional holders increased their position in Office Depot, Inc. (NASDAQ:ODP) by some 88,124,794 shares, 140 decreased positions by 62,197,128 and 37 held positions by 365,742,672. That puts total institutional holdings at 516,064,594 shares, according to SEC filings. The stock grabbed 46 new institutional investments totaling 53,717,523 shares while 42 institutional investors sold out their entire positions totaling 18,483,931 shares.

Office Depot, Inc. (NASDAQ:ODP) Insider Trades

Multiple company employees have indulged in significant insider trading. Office Depot, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Sr Vice President & Controller Rabinovitch Michael has sold 1,352 shares of Office Depot, Inc. (ODP) in trading session dated Jan. 08, 2018. These shares are worth $4,637 and were traded at $3.43 each. The SEC filing shows that Allison Michael R performed a sale of 360,000 shares. The Chief Administrative Officer disposed these shares by way of transaction on Oct. 13, 2017. The company’s shares were given away at $3.83 per share worth to an income of some $1,378,800 on account of Allison Michael R.

Chief Administrative Officer, Allison Michael R, sold 66,217 common shares of Office Depot, Inc. (ODP) in the open market. In a transaction dated May. 16, 2017, the shares were put up for sale at an average price of $5.08, raking in a sum of $336,382. After this sale, 697,474 common shares of ODP are directly owned by the insider, with total stake valued at $1,436,796.

In the transaction dated May. 15, 2017, the great number of shares disposed came courtesy the EVP, COO; Rice Troy disposed a total of 74,000 shares at an average price of $5.2, amounting to approximately $384,800. The insider now directly owns 358,187 shares worth $737,865.

Office Depot, Inc. (ODP) Analyst Guide

Several analysts have released their opinion on Office Depot, Inc. (NASDAQ:ODP), with 1 analysts believing it is a strong buy. Whereas 3 of them predict the stock is a hold. Also, there are 0 buy, 0 sell and 1 strong sell ratings, collectively assigning a 3 average brokerage recommendation.

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