Bank of America Corp DE lessened its stake in shares of Blucora Inc (NASDAQ:BCOR) by 20.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 342,143 shares of the information services provider’s stock after selling 88,291 shares during the period. Bank of America Corp DE owned about 0.72% of Blucora worth $12,660,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of Blucora in the 1st quarter valued at about $119,000. Northern Trust Corp increased its holdings in shares of Blucora by 1.6% in the 1st quarter. Northern Trust Corp now owns 542,222 shares of the information services provider’s stock valued at $13,339,000 after purchasing an additional 8,501 shares during the period. BlackRock Inc. increased its holdings in shares of Blucora by 2.5% in the 1st quarter. BlackRock Inc. now owns 5,970,527 shares of the information services provider’s stock valued at $146,875,000 after purchasing an additional 144,397 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Blucora by 12.9% in the 1st quarter. Russell Investments Group Ltd. now owns 172,084 shares of the information services provider’s stock valued at $4,232,000 after purchasing an additional 19,701 shares during the period. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Blucora in the 1st quarter valued at about $1,715,000. Hedge funds and other institutional investors own 94.13% of the company’s stock.
Several equities research analysts recently commented on BCOR shares. BidaskClub raised Blucora from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 21st. Zacks Investment Research raised Blucora from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Monday, August 6th. Finally, JPMorgan Chase & Co. started coverage on Blucora in a research note on Thursday, July 12th. They issued a “neutral” rating and a $42.00 price target for the company. 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 stock. Blucora has a consensus rating of “Buy” and a consensus price target of $38.21.
Shares of NASDAQ BCOR opened at $33.17 on Friday. The company has a market capitalization of $1.92 billion, a P/E ratio of 27.19, a PEG ratio of 1.43 and a beta of -0.22. Blucora Inc has a 52 week low of $19.05 and a 52 week high of $41.35. 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 quarterly earnings results on Wednesday, August 1st. The information services provider reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.11. The business had revenue of $157.80 million during the quarter, compared to analysts’ expectations of $154.46 million. Blucora had a return on equity of 14.82% and a net margin of 13.31%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. As a group, equities analysts forecast that Blucora Inc will post 1.61 earnings per share for the current year.
In other Blucora news, Director H. Mcintyre Gardner sold 2,300 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $35.70, for a total transaction of $82,110.00. Following the completion of the sale, the director now owns 14,717 shares of the company’s stock, valued at $525,396.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Clendening sold 79,000 shares of the company’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 sale, the insider now directly owns 672,564 shares of the company’s stock, valued at approximately $25,328,760.24. The disclosure for this sale can be found here. In the last three months, insiders sold 118,128 shares of company stock valued at $4,433,481. 2.91% of the stock is currently owned by company insiders.
Blucora Company Profile
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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