Short Interest in Blucora Inc (NASDAQ:BCOR) Declines By 8.6%

Blucora Inc (NASDAQ:BCOR) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,060,000 shares, a drop of 8.6% from the September 30th total of 1,160,000 shares. Approximately 2.2% of the company’s shares are sold short. Based on an average trading volume of 441,900 shares, the short-interest ratio is currently 2.4 days.

In related news, CEO John S. Clendening sold 54,250 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $21.20, for a total value of $1,150,100.00. Following the sale, the chief executive officer now directly owns 704,467 shares of the company’s stock, valued at $14,934,700.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Aperio Group LLC raised its stake in shares of Blucora by 2.4% during the second quarter. Aperio Group LLC now owns 17,945 shares of the information services provider’s stock valued at $545,000 after purchasing an additional 421 shares during the period. Affinity Investment Advisors LLC raised its stake in shares of Blucora by 4.0% during the second quarter. Affinity Investment Advisors LLC now owns 14,195 shares of the information services provider’s stock valued at $431,000 after purchasing an additional 541 shares during the period. State of Tennessee Treasury Department raised its stake in shares of Blucora by 1.8% during the third quarter. State of Tennessee Treasury Department now owns 38,292 shares of the information services provider’s stock valued at $829,000 after purchasing an additional 663 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Blucora by 3.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 19,278 shares of the information services provider’s stock valued at $585,000 after purchasing an additional 700 shares during the period. Finally, Strs Ohio raised its stake in shares of Blucora by 7.3% during the second quarter. Strs Ohio now owns 10,300 shares of the information services provider’s stock valued at $312,000 after purchasing an additional 700 shares during the period. Institutional investors own 89.59% of the company’s stock.

BCOR has been the topic of several research reports. ValuEngine upgraded shares of Blucora from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub upgraded shares of Blucora from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Zacks Investment Research lowered shares of Blucora from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Craig Hallum cut their price target on shares of Blucora from $40.00 to $30.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Finally, Barrington Research set a $36.00 price target on shares of Blucora and gave the company a “buy” rating in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.00.

NASDAQ BCOR opened at $21.36 on Monday. Blucora has a one year low of $18.40 and a one year high of $37.17. The company’s 50 day moving average price is $21.12 and its 200 day moving average price is $26.50. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $981.93 million, a price-to-earnings ratio of 14.05, a PEG ratio of 0.61 and a beta of 0.68.

Blucora (NASDAQ:BCOR) last posted its quarterly earnings results on Wednesday, November 6th. The information services provider reported ($0.20) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.20). Blucora had a net margin of 2.22% and a return on equity of 13.87%. The firm had revenue of $149.00 million for the quarter, compared to analyst estimates of $148.58 million. During the same quarter last year, the firm posted ($0.09) earnings per share. Blucora’s revenue for the quarter was up 56.2% compared to the same quarter last year. Sell-side analysts forecast that Blucora will post 1.63 EPS for the current fiscal year.

About Blucora

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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