Pinebridge Investments L.P. Boosts Stock Position in Blucora Inc (NASDAQ:BCOR)

Pinebridge Investments L.P. raised its position in shares of Blucora Inc (NASDAQ:BCOR) by 228.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,402 shares of the information services provider’s stock after purchasing an additional 26,716 shares during the quarter. Pinebridge Investments L.P. owned 0.08% of Blucora worth $1,166,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Bank of Montreal Can lifted its holdings in shares of Blucora by 112.2% in the 1st quarter. Bank of Montreal Can now owns 6,127 shares of the information services provider’s stock valued at $205,000 after buying an additional 3,239 shares during the period. Sawtooth Solutions LLC acquired a new position in shares of Blucora in the 1st quarter valued at about $205,000. Teza Capital Management LLC acquired a new position in shares of Blucora in the 2nd quarter valued at about $258,000. AE Wealth Management LLC acquired a new position in shares of Blucora in the 2nd quarter valued at about $309,000. Finally, Strs Ohio lifted its holdings in shares of Blucora by 7.3% in the 2nd quarter. Strs Ohio now owns 10,300 shares of the information services provider’s stock valued at $312,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 94.72% of the company’s stock.

In related news, CEO John S. Clendening sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $29.23, for a total value of $292,300.00. Following the completion of the transaction, the chief executive officer now owns 721,217 shares of the company’s stock, valued at approximately $21,081,172.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.40% of the company’s stock.

Several brokerages have recently issued reports on BCOR. Zacks Investment Research cut Blucora from a “hold” rating to a “sell” rating in a report on Monday, August 12th. ValuEngine raised Blucora from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. BidaskClub raised Blucora from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $36.00 price target on shares of Blucora in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $38.00.

NASDAQ BCOR traded down $1.17 during trading hours on Thursday, reaching $21.05. The company’s stock had a trading volume of 174,283 shares, compared to its average volume of 368,301. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 0.66 and a beta of 0.72. Blucora Inc has a 1-year low of $20.82 and a 1-year high of $41.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.05 and a quick ratio of 2.05. The company’s 50-day moving average is $23.62 and its two-hundred day moving average is $29.65.

Blucora (NASDAQ:BCOR) last released its quarterly earnings results on Wednesday, August 7th. The information services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. The company had revenue of $193.70 million during the quarter, compared to analysts’ expectations of $191.26 million. Blucora had a return on equity of 14.94% and a net margin of 10.27%. Blucora’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 EPS. Equities analysts forecast that Blucora Inc will post 1.67 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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Institutional Ownership by Quarter for Blucora (NASDAQ:BCOR)

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