Ameriprise Financial Inc. Raises Stake in Stamps.com Inc. (STMP)
Ameriprise Financial Inc. increased its position in Stamps.com Inc. (NASDAQ:STMP) by 9.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 207,353 shares of the company’s stock after buying an additional 17,513 shares during the period. Ameriprise Financial Inc. owned 1.19% of Stamps.com worth $18,126,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of STMP. Columbus Circle Investors raised its position in Stamps.com by 51.7% in the second quarter. Columbus Circle Investors now owns 441,618 shares of the company’s stock worth $38,606,000 after buying an additional 150,419 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Stamps.com by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 364,031 shares of the company’s stock worth $38,689,000 after buying an additional 2,534 shares during the last quarter. Glenmede Trust Co. NA raised its position in Stamps.com by 50.5% in the second quarter. Glenmede Trust Co. NA now owns 341,584 shares of the company’s stock worth $29,860,000 after buying an additional 114,632 shares during the last quarter. State Street Corp raised its position in Stamps.com by 1.0% in the first quarter. State Street Corp now owns 298,730 shares of the company’s stock worth $31,747,000 after buying an additional 2,934 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in Stamps.com during the second quarter worth $24,477,000. Institutional investors and hedge funds own 97.07% of the company’s stock.
Stamps.com Inc. (NASDAQ:STMP) traded up 2.04% during trading on Wednesday, hitting $89.62. 349,747 shares of the stock traded hands. Stamps.com Inc. has a 52-week low of $68.82 and a 52-week high of $123.75. The firm has a 50-day moving average price of $89.56 and a 200 day moving average price of $90.85. The company has a market cap of $1.55 billion, a P/E ratio of 45.38 and a beta of 0.97.
Stamps.com (NASDAQ:STMP) last posted its earnings results on Thursday, July 28th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.68. The business had revenue of $84.01 million for the quarter, compared to analysts’ expectations of $73.49 million. Stamps.com had a net margin of 12.09% and a return on equity of 27.94%. The business’s revenue for the quarter was up 73.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 EPS. On average, equities analysts expect that Stamps.com Inc. will post $7.11 EPS for the current year.
STMP has been the topic of a number of recent analyst reports. Craig Hallum reissued a “buy” rating on shares of Stamps.com in a research report on Tuesday, July 12th. Roth Capital reissued a “buy” rating and set a $96.00 price target on shares of Stamps.com in a research report on Thursday, July 28th. Zacks Investment Research raised shares of Stamps.com from a “hold” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research report on Wednesday, July 13th. Finally, B. Riley reissued a “buy” rating and set a $160.00 price target on shares of Stamps.com in a research report on Tuesday, August 9th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $110.67.
In other news, insider James Bortnak sold 5,000 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $78.99, for a total value of $394,950.00. Following the transaction, the insider now owns 6,093 shares in the company, valued at approximately $481,286.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.46% of the stock is currently owned by insiders.
Stamps.com Company Profile
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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