Arizona State Retirement System boosted its position in Blucora Inc (NASDAQ:BCOR) by 232.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,532 shares of the information services provider’s stock after purchasing an additional 54,215 shares during the period. Arizona State Retirement System owned 0.17% of Blucora worth $1,713,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sei Investments Co. increased its holdings in Blucora by 15,869.2% in the 3rd quarter. Sei Investments Co. now owns 4,152 shares of the information services provider’s stock worth $110,000 after purchasing an additional 4,126 shares in the last quarter. US Bancorp DE increased its holdings in Blucora by 697.0% in the 4th quarter. US Bancorp DE now owns 8,185 shares of the information services provider’s stock worth $181,000 after purchasing an additional 7,158 shares in the last quarter. Trexquant Investment LP acquired a new position in Blucora in the 3rd quarter worth about $201,000. Crossmark Global Holdings Inc. acquired a new position in Blucora in the 3rd quarter worth about $204,000. Finally, AMP Capital Investors Ltd acquired a new position in Blucora in the 3rd quarter worth about $217,000. 97.28% of the stock is owned by institutional investors and hedge funds.
In other news, insider John S. Clendening sold 77,750 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $24.33, for a total value of $1,891,657.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Clendening sold 28,800 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $24.85, for a total value of $715,680.00. Following the completion of the sale, the insider now directly owns 645,548 shares of the company’s stock, valued at approximately $16,041,867.80. The disclosure for this sale can be found here. In the last three months, insiders sold 175,272 shares of company stock valued at $4,273,842. Insiders own 14.10% of the company’s stock.
Blucora (NASDAQ:BCOR) last issued its quarterly earnings results on Thursday, February 15th. The information services provider reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.13. The company had revenue of $97.85 million during the quarter, compared to analysts’ expectations of $91.99 million. Blucora had a return on equity of 11.22% and a net margin of 5.31%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. sell-side analysts expect that Blucora Inc will post 1.54 EPS for the current year.
BCOR has been the subject of a number of recent research reports. TheStreet raised Blucora from a “c” rating to a “b” rating in a report on Thursday, February 15th. ValuEngine raised Blucora from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research cut Blucora from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. BidaskClub raised Blucora from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Benchmark reissued a “buy” rating and issued a $32.00 price target on shares of Blucora in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $27.50.
Blucora, Inc is a provider of technology-enabled financial solutions to consumers, small business owners and tax professionals. The Company operates through the Wealth Management and Tax Preparation segments. The Company’s Wealth Management segment consists of HD Vest, which provides financial advisors with an integrated platform of brokerage, investment advisory and insurance services to assist in making each financial advisor a financial service center for his/her clients The Company’s Tax Preparation segment provides digital do-it-yourself (DDIY) tax preparation solutions for consumers, small business owners and tax professionals.
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