Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Blucora Inc (NASDAQ:BCOR) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 156,112 shares of the information services provider’s stock, valued at approximately $6,284,000. Mirae Asset Global Investments Co. Ltd. owned about 0.33% of Blucora as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in shares of Blucora in the third quarter worth about $408,000. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Blucora by 21.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 985,449 shares of the information services provider’s stock worth $39,664,000 after buying an additional 171,058 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Blucora by 10.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 254,023 shares of the information services provider’s stock worth $10,224,000 after buying an additional 24,365 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Blucora by 215.5% in the third quarter. Panagora Asset Management Inc. now owns 19,559 shares of the information services provider’s stock worth $787,000 after buying an additional 13,359 shares during the last quarter. Finally, D.A. Davidson & CO. acquired a new position in shares of Blucora during the third quarter valued at approximately $250,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.
In related news, Director Lance G. Dunn sold 27,000 shares of the stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert D. Oros sold 6,075 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $30.31, for a total value of $184,133.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 118,733 shares of company stock valued at $4,016,181. Insiders own 2.91% of the company’s stock.
Shares of Blucora stock opened at $30.51 on Thursday. Blucora Inc has a 12 month low of $19.65 and a 12 month high of $41.35. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.07 and a beta of 0.18.
Blucora (NASDAQ:BCOR) last posted its quarterly earnings results on Wednesday, October 31st. The information services provider reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.10. Blucora had a return on equity of 14.56% and a net margin of 13.71%. The firm had revenue of $95.40 million during the quarter, compared to analysts’ expectations of $94.36 million. During the same quarter last year, the firm earned ($0.12) earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts anticipate that Blucora Inc will post 1.63 EPS for the current fiscal year.
A number of brokerages have commented on BCOR. Zacks Investment Research raised Blucora from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Tuesday, November 6th. BidaskClub raised Blucora from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. ValuEngine cut Blucora from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 1st. Barrington Research reissued a “buy” rating and set a $40.00 target price on shares of Blucora in a report on Monday, October 22nd. Finally, JPMorgan Chase & Co. raised Blucora from a “neutral” rating to an “overweight” rating and increased their target price for the company from $42.00 to $45.00 in a report on Friday, September 28th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Blucora currently has an average rating of “Buy” and an average target price of $37.54.
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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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