Blucora (BCOR) Downgraded by ValuEngine to Hold

ValuEngine lowered shares of Blucora (NASDAQ:BCOR) from a buy rating to a hold rating in a research report sent to investors on Saturday morning, ValuEngine reports.

A number of other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Blucora from a buy rating to a hold rating in a research note on Thursday, May 9th. Zacks Investment Research raised shares of Blucora from a hold rating to a strong-buy rating and set a $40.00 target price for the company in a research note on Friday, April 26th. Finally, Barrington Research reissued a buy rating and set a $41.00 target price on shares of Blucora in a research note on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $43.25.

Shares of NASDAQ:BCOR opened at $32.51 on Friday. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 0.86 and a beta of 0.57. Blucora has a 12-month low of $23.83 and a 12-month high of $41.35. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.43 and a quick ratio of 2.43.

Blucora (NASDAQ:BCOR) last issued its earnings results on Wednesday, May 8th. The information services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.18. The company had revenue of $225.80 million during the quarter, compared to analyst estimates of $224.95 million. Blucora had a net margin of 11.57% and a return on equity of 16.14%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. Equities analysts forecast that Blucora will post 1.85 EPS for the current fiscal year.

In other news, CEO John S. Clendening sold 54,250 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $31.67, for a total transaction of $1,718,097.50. Following the transaction, the chief executive officer now owns 753,002 shares in the company, valued at approximately $23,847,573.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John S. Clendening sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $32.00, for a total transaction of $160,000.00. Following the transaction, the chief executive officer now owns 753,002 shares in the company, valued at approximately $24,096,064. The disclosure for this sale can be found here. Insiders have sold a total of 85,807 shares of company stock worth $2,757,515 in the last 90 days. 3.40% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. bought a new position in Blucora in the 4th quarter worth $38,937,000. Rothschild & Co. Asset Management US Inc. bought a new position in Blucora in the 4th quarter worth $20,132,000. Norges Bank bought a new position in Blucora in the 4th quarter worth $19,361,000. Morgan Stanley raised its holdings in Blucora by 208.2% in the 3rd quarter. Morgan Stanley now owns 536,529 shares of the information services provider’s stock worth $21,594,000 after acquiring an additional 362,461 shares during the period. Finally, Park West Asset Management LLC bought a new position in Blucora in the 1st quarter worth $10,014,000. Institutional investors and hedge funds own 98.92% of the company’s stock.

Blucora Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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