Litespeed Management L.l.c. adds Office Depot Inc (ODP) to its portfolio

Office Depot Inc (ODP) : Litespeed Management L.l.c. added new position in Office Depot Inc during the most recent quarter end. The investment management firm now holds 3,585,600 shares of Office Depot Inc which is valued at $13,051,584 , the company said in a statement filed on Aug 15, 2016 with the SEC.Office Depot Inc makes up approximately 2.59% of Litespeed Management L.l.c.’s portfolio.

Other Hedge Funds, Including , Hutchin Hill Capital Lp sold out all of its stake in ODP during the most recent quarter. The investment firm sold 1,279,129 shares of ODP which is valued $4,656,030.Hsbc Holdings Plc boosted its stake in ODP in the latest quarter, The investment management firm added 97,180 additional shares and now holds a total of 233,314 shares of Office Depot Inc which is valued at $849,263.Geode Capital Management boosted its stake in ODP in the latest quarter, The investment management firm added 172,214 additional shares and now holds a total of 3,845,570 shares of Office Depot Inc which is valued at $13,997,875. Office Depot Inc makes up approx 0.01% of Geode Capital Management’s portfolio. Frontier Wealth Management added ODP to its portfolio by purchasing 34,074 company shares during the most recent quarter which is valued at $124,029. Office Depot Inc makes up approx 0.02% of Frontier Wealth Management’s portfolio. Brave Asset Management Inc added ODP to its portfolio by purchasing 10,000 company shares during the most recent quarter which is valued at $36,300. Office Depot Inc makes up approx 0.02% of Brave Asset Management Inc’s portfolio.

Office Depot Inc closed down -0.06 points or -1.63% at $3.62 with 53,56,494 shares getting traded on Thursday. Post opening the session at $3.62, the shares hit an intraday low of $3.53 and an intraday high of $3.68 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Office Depot Inc reported $0.03 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.06. The company had revenue of $3218.00 million for the quarter, compared to analysts expectations of $3208.70 million. The company’s revenue was down -6.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.06 EPS.

Office Depot Inc. is a supplier of office products and services. The Company sells products and services to consumers through three segments: North American Retail Division North American Business Solutions Division and International Division. The North American Retail Division sells an assortment of merchandise through its chain of office supply stores throughout the United States including Puerto Rico and the U.S. Virgin Islands. The North American Business Solutions Division sells office supplies technology products cleaning and breakroom supplies office furniture certain services and other solutions to customers. The International Division sells office products and services through direct mail catalogs contract sales forces Internet sites and retail stores. The Company also operates a network of distribution centers (DC) and crossdock facilities across the United States Puerto Rico and Canada.

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