Shares of Blucora, Inc. (NASDAQ:BCOR) rose 0.9% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $23.95 and last traded at $23.53, with a volume of 225,162 shares. The stock had previously closed at $23.75.
The information services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.66 by $0.04. The firm had revenue of $139.20 million for the quarter, compared to analyst estimates of $136.07 million. Blucora had a positive return on equity of 6.59% and a negative net margin of 12.11%. The company’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 EPS.
BCOR has been the topic of several recent research reports. Craig Hallum initiated coverage on Blucora in a research report on Wednesday, April 19th. They set a “buy” rating and a $25.00 price objective on the stock. Zacks Investment Research upgraded Blucora from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Tuesday, May 2nd. Barrington Research increased their price objective on Blucora from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. ValuEngine upgraded Blucora from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Benchmark Co. increased their price objective on Blucora from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $23.00.
In other Blucora news, Director Andrew Miles Snyder sold 46,195 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $18.85, for a total value of $870,775.75. Following the completion of the sale, the director now owns 43,910 shares in the company, valued at approximately $827,703.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Eric Michael Emans sold 89,800 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $21.65, for a total value of $1,944,170.00. Following the completion of the sale, the chief financial officer now owns 154,897 shares of the company’s stock, valued at approximately $3,353,520.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 605,533 shares of company stock worth $12,547,925. 14.10% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its stake in Blucora by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 16,100 shares of the information services provider’s stock valued at $341,000 after buying an additional 300 shares during the period. Aperio Group LLC boosted its stake in Blucora by 3.4% in the second quarter. Aperio Group LLC now owns 13,594 shares of the information services provider’s stock valued at $288,000 after buying an additional 453 shares during the period. Arizona State Retirement System boosted its stake in Blucora by 2.5% in the first quarter. Arizona State Retirement System now owns 20,217 shares of the information services provider’s stock valued at $350,000 after buying an additional 500 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Blucora by 7.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,340 shares of the information services provider’s stock valued at $198,000 after buying an additional 620 shares during the period. Finally, Mason Street Advisors LLC boosted its stake in Blucora by 8.0% in the first quarter. Mason Street Advisors LLC now owns 9,054 shares of the information services provider’s stock valued at $157,000 after buying an additional 667 shares during the period. Institutional investors and hedge funds own 86.44% of the company’s stock.
The firm’s market capitalization is $1.01 billion. The firm has a 50 day moving average of $20.92 and a 200-day moving average of $18.20.
TRADEMARK VIOLATION NOTICE: “Blucora, Inc. (NASDAQ:BCOR) Stock Price Up -0.9% Following Strong Earnings” was originally reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://stocknewstimes.com/2017/07/28/blucora-inc-nasdaqbcor-stock-price-up-0-9-following-strong-earnings.html.
Blucora Company Profile
Blucora, Inc is a provider of technology-enabled financial solutions to consumers, small business owners and tax professionals. The Company operates through the Wealth Management and Tax Preparation segments. The Company’s Wealth Management segment consists of HD Vest, which provides financial advisors with an integrated platform of brokerage, investment advisory and insurance services to assist in making each financial advisor a financial service center for his/her clients The Company’s Tax Preparation segment provides digital do-it-yourself (DDIY) tax preparation solutions for consumers, small business owners and tax professionals.
Receive News & Ratings for Blucora Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blucora Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
