Martingale Asset Management L P increased its holdings in Blucora, Inc. (NASDAQ:BCOR) by 173.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,945 shares of the information services provider’s stock after buying an additional 113,435 shares during the quarter. Martingale Asset Management L P owned about 0.40% of Blucora worth $3,794,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of BCOR. JPMorgan Chase & Co. grew its holdings in Blucora by 304.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 517,475 shares of the information services provider’s stock worth $10,971,000 after buying an additional 389,529 shares in the last quarter. Prudential Financial Inc. grew its holdings in Blucora by 156.6% in the 2nd quarter. Prudential Financial Inc. now owns 596,093 shares of the information services provider’s stock worth $12,638,000 after buying an additional 363,809 shares in the last quarter. Vanguard Group Inc. grew its holdings in Blucora by 8.0% in the 1st quarter. Vanguard Group Inc. now owns 3,616,259 shares of the information services provider’s stock worth $62,562,000 after buying an additional 268,209 shares in the last quarter. First Trust Advisors LP grew its holdings in Blucora by 12.6% in the 2nd quarter. First Trust Advisors LP now owns 1,994,802 shares of the information services provider’s stock worth $42,290,000 after buying an additional 223,249 shares in the last quarter. Finally, EAM Investors LLC bought a new position in Blucora in the 1st quarter worth approximately $3,543,000. 90.15% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Eric Michael Emans sold 89,800 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $21.65, for a total value of $1,944,170.00. Following the completion of the transaction, the chief financial officer now owns 154,897 shares in the company, valued at approximately $3,353,520.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.10% of the company’s stock.
Blucora, Inc. (NASDAQ:BCOR) opened at 23.40 on Friday. The company’s market capitalization is $1.05 billion. Blucora, Inc. has a 52 week low of $10.27 and a 52 week high of $24.00. The firm’s 50-day moving average price is $23.02 and its 200-day moving average price is $20.16.
Blucora (NASDAQ:BCOR) last posted its quarterly earnings data on Thursday, July 27th. The information services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.04. Blucora had a negative net margin of 8.03% and a positive return on equity of 11.92%. The firm had revenue of $139.20 million during the quarter, compared to analysts’ expectations of $136.07 million. During the same quarter in the previous year, the company posted $0.55 EPS. Blucora’s revenue was up 15.9% on a year-over-year basis. On average, equities analysts expect that Blucora, Inc. will post $1.36 earnings per share for the current year.
A number of equities analysts recently issued reports on the company. ValuEngine lowered Blucora from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Barrington Research increased their price objective on Blucora from $23.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. BidaskClub raised Blucora from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Finally, Zacks Investment Research raised Blucora from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $25.50.
Blucora Company Profile
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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