Bank of America Corp DE cut its holdings in shares of Blucora Inc (NASDAQ:BCOR) by 20.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 342,143 shares of the information services provider’s stock after selling 88,291 shares during the quarter. Bank of America Corp DE’s holdings in Blucora were worth $12,660,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of BCOR. Renaissance Technologies LLC raised its stake in shares of Blucora by 8.6% in the second quarter. Renaissance Technologies LLC now owns 2,452,600 shares of the information services provider’s stock valued at $90,746,000 after purchasing an additional 193,600 shares in the last quarter. BlueMountain Capital Management LLC raised its stake in shares of Blucora by 151.7% in the second quarter. BlueMountain Capital Management LLC now owns 17,277 shares of the information services provider’s stock valued at $639,000 after purchasing an additional 10,414 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Blucora by 6.8% in the second quarter. Legal & General Group Plc now owns 103,561 shares of the information services provider’s stock valued at $3,829,000 after purchasing an additional 6,560 shares in the last quarter. BlackRock Inc. raised its stake in shares of Blucora by 7.7% in the second quarter. BlackRock Inc. now owns 6,428,125 shares of the information services provider’s stock valued at $237,841,000 after purchasing an additional 457,598 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of Blucora in the second quarter valued at $214,000. Institutional investors own 94.13% of the company’s stock.
Shares of NASDAQ BCOR opened at $33.17 on Friday. 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 Inc has a one year low of $19.05 and a one year high of $41.35. The firm 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 (NASDAQ:BCOR) last released its quarterly earnings data on Wednesday, August 1st. The information services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.11. Blucora had a return on equity of 14.82% and a net margin of 13.31%. The firm had revenue of $157.80 million during the quarter, compared to analyst estimates of $154.46 million. During the same period in the prior year, the company posted $0.70 earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities analysts anticipate that Blucora Inc will post 1.61 EPS for the current year.
A number of brokerages recently commented on BCOR. BidaskClub upgraded Blucora from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 6th. Zacks Investment Research upgraded Blucora from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Monday, August 6th. Finally, JPMorgan Chase & Co. began coverage on Blucora in a research note on Thursday, July 12th. They issued a “neutral” rating and a $42.00 target price for the company. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $38.21.
In other Blucora news, insider John S. Clendening sold 79,000 shares of the stock in a transaction on Tuesday, July 17th. The stock was sold at an average price of $37.66, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director H. Mcintyre Gardner sold 2,300 shares of the stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $35.70, for a total value of $82,110.00. Following the sale, the director now owns 14,717 shares in the company, valued at approximately $525,396.90. The disclosure for this sale can be found here. Insiders have sold 118,128 shares of company stock valued at $4,433,481 over the last quarter. Corporate insiders own 2.91% of the company’s stock.
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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