Blucora (BCOR) Shares Down 5.8%

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Shares of Blucora Inc (NASDAQ:BCOR) dropped 5.8% on Thursday . The company traded as low as $32.36 and last traded at $32.39. Approximately 679,830 shares traded hands during mid-day trading, an increase of 70% from the average daily volume of 400,834 shares. The stock had previously closed at $34.38.

BCOR has been the subject of a number of analyst reports. BidaskClub cut Blucora from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 30th. 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 report on Monday, August 6th. Finally, JPMorgan Chase & Co. initiated coverage on Blucora in a research report on Thursday, July 12th. They issued a “neutral” rating and a $42.00 price target for the company. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $38.21.

The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.43 and a beta of -0.22. 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 posted its quarterly earnings data on Wednesday, August 1st. The information services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.11. The business had revenue of $157.80 million for the quarter, compared to analyst estimates of $154.46 million. Blucora had a return on equity of 14.82% and a net margin of 13.31%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. On average, equities research analysts predict that Blucora Inc will post 1.61 earnings per share for the current fiscal year.

In other news, Director Lance G. Dunn sold 27,000 shares of Blucora stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $38.25, for a total value of $1,032,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John S. Clendening sold 79,000 shares of Blucora stock in a transaction dated 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 completion of the transaction, the insider now owns 672,564 shares in the company, valued at $25,328,760.24. The disclosure for this sale can be found here. Insiders sold 118,128 shares of company stock worth $4,433,481 over the last quarter. 2.91% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased 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 worth $237,841,000 after purchasing an additional 457,598 shares during the period. Renaissance Technologies LLC increased its stake in Blucora by 8.6% during 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 acquiring an additional 193,600 shares during the period. Glenmede Trust Co. NA increased its stake in Blucora by 209.5% during the second quarter. Glenmede Trust Co. NA now owns 1,188,640 shares of the information services provider’s stock valued at $43,980,000 after acquiring an additional 804,545 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in Blucora by 13.0% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 814,391 shares of the information services provider’s stock valued at $30,132,000 after acquiring an additional 94,003 shares during the period. Finally, Harvest Capital Strategies LLC increased its stake in Blucora by 54.8% during the first quarter. Harvest Capital Strategies LLC now owns 800,000 shares of the information services provider’s stock valued at $19,680,000 after acquiring an additional 283,354 shares during the period. Institutional investors and hedge funds own 94.13% of the company’s stock.

Blucora Company Profile (NASDAQ:BCOR)

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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