Traders Buy Shares of Stamps.com Inc. (STMP) on Weakness
Investors bought shares of Stamps.com Inc. (NASDAQ:STMP) on weakness during trading on Friday. $13.28 million flowed into the stock on the tick-up and $11.70 million flowed out of the stock on the tick-down, for a money net flow of $1.58 million into the stock. Of all equities tracked, Stamps.com had the 23rd highest net in-flow for the day. Stamps.com traded down ($2.14) for the day and closed at $86.30
STMP has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Stamps.com from a “buy” rating to a “hold” rating in a report on Thursday, April 28th. B. Riley reissued a “buy” rating and set a $150.00 price objective on shares of Stamps.com in a report on Friday, May 6th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Stamps.com currently has a consensus rating of “Buy” and a consensus target price of $120.80.
The stock has a 50-day moving average price of $88.70 and a 200-day moving average price of $96.14. The firm has a market cap of $1.51 billion and a P/E ratio of 148.03.
Stamps.com (NASDAQ:STMP) last posted its earnings results on Monday, May 9th. The company reported $1.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.66. The business earned $81.80 million during the quarter, compared to analyst estimates of $68.73 million. During the same quarter last year, the firm earned $0.72 earnings per share. Stamps.com’s revenue was up 85.7% compared to the same quarter last year. Analysts anticipate that Stamps.com Inc. will post $6.02 earnings per share for the current year.
In other news, insider James Bortnak sold 5,000 shares of the business’s stock in a transaction on Friday, June 24th. The shares were sold at an average price of $86.30, for a total value of $431,500.00. Following the completion of the sale, the insider now directly owns 6,093 shares in the company, valued at $525,825.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Other hedge funds have recently modified their holdings of the company. Eagle Asset Management Inc. boosted its stake in shares of Stamps.com by 48.6% in the fourth quarter. Eagle Asset Management Inc. now owns 124,236 shares of the company’s stock worth $13,617,000 after buying an additional 40,618 shares during the last quarter. Russell Frank Co boosted its stake in shares of Stamps.com by 0.6% in the fourth quarter. Russell Frank Co now owns 121,196 shares of the company’s stock worth $13,605,000 after buying an additional 723 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Stamps.com by 4.8% in the fourth quarter. Principal Financial Group Inc. now owns 101,921 shares of the company’s stock worth $11,171,000 after buying an additional 4,711 shares during the last quarter. Matarin Capital Management LLC purchased a new stake in shares of Stamps.com during the fourth quarter worth $6,458,000. Finally, American Century Companies Inc. purchased a new stake in shares of Stamps.com during the fourth quarter worth $4,344,000.
Stamps.com Inc is a provider of Internet-based mailing and shipping solutions. The Company operates through the Internet Mailing and Shipping Services segment. Under the Stamps.com and Endicia branded solutions, the Company’s customers use its service to mail and ship a range of mail pieces, including postcards, envelopes, flats and packages, using a range of United States Postal Service (USPS) mail classes, including First Class Mail, Priority Mail, Priority Mail Express, Media Mail, and Parcel Select, and among others.
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