First Trust Advisors LP trimmed its position in shares of Blucora Inc (NASDAQ:BCOR) by 98.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 37,138 shares of the information services provider’s stock after selling 2,489,593 shares during the quarter. First Trust Advisors LP’s holdings in Blucora were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of BCOR. Morgan Stanley increased its stake in Blucora by 274.6% during the second quarter. Morgan Stanley now owns 381,696 shares of the information services provider’s stock valued at $11,592,000 after acquiring an additional 279,805 shares during the period. Nuveen Asset Management LLC bought a new position in Blucora during the second quarter valued at about $7,207,000. FMR LLC increased its stake in Blucora by 47.3% during the first quarter. FMR LLC now owns 670,352 shares of the information services provider’s stock valued at $22,376,000 after acquiring an additional 215,375 shares during the period. BlackRock Inc. increased its stake in Blucora by 2.8% during the second quarter. BlackRock Inc. now owns 7,103,096 shares of the information services provider’s stock valued at $215,722,000 after acquiring an additional 192,034 shares during the period. Finally, Invesco Ltd. increased its stake in Blucora by 73.0% during the second quarter. Invesco Ltd. now owns 450,579 shares of the information services provider’s stock valued at $13,684,000 after acquiring an additional 190,191 shares during the period. Hedge funds and other institutional investors own 94.38% of the company’s stock.
Several research firms have recently weighed in on BCOR. ValuEngine upgraded Blucora from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barrington Research set a $36.00 price objective on Blucora and gave the company a “buy” rating in a research note on Friday, October 11th. Craig Hallum lowered their price objective on Blucora from $40.00 to $30.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Zacks Investment Research lowered Blucora from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Finally, TheStreet lowered Blucora from a “b-” rating to a “c” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Blucora presently has an average rating of “Hold” and a consensus price target of $30.00.
Blucora (NASDAQ:BCOR) last released its quarterly earnings data on Wednesday, November 6th. The information services provider reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). Blucora had a return on equity of 13.87% and a net margin of 2.22%. The company had revenue of $149.00 million for the quarter, compared to analyst estimates of $148.58 million. During the same period in the prior year, the company posted ($0.09) EPS. The company’s revenue was up 56.2% compared to the same quarter last year. Sell-side analysts forecast that Blucora Inc will post 1.63 EPS for the current year.
In other news, CEO John S. Clendening sold 54,250 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was 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 in the company, valued at approximately $14,934,700.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.40% 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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