Shares of Office Depot (ODP) Rally 2.13%

Office Depot (ODP) has been under a strong bear grip, hence the stock is down -2.45% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.62% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.13% in the last 1 week, and is up 1.82% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 1.02% and the 50-Day Moving Average is 9.04%.

Office Depot (NASDAQ:ODP): The stock opened at $3.42 on Friday but the bulls could not build on the opening and the stock topped out at $3.44 for the day. The stock traded down to $3.32 during the day, due to lack of any buying support eventually closed down at $3.36 with a loss of -0.88% for the day. The stock had closed at $3.39 on the previous day. The total traded volume was 7,743,732 shares.


The company Insiders own 1.47% of Office Depot shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 8.03% . Institutional Investors own 89.07% of Office Depot shares. During last six month period, the net percent change held by insiders has seen a change of 8.03%. In a related news, Travis Nigel, director of Office Depot Inc, executed a transaction worth $49,506 on May 25, 2016. A total of 14,267 shares were purchased at an average price of $3.47. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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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