Stamps.com Inc. (STMP) Shares Bought by Redwood Investments LLC
Redwood Investments LLC increased its position in Stamps.com Inc. (NASDAQ:STMP) by 40.0% during the second quarter, Holdings Channel reports. The firm owned 42,697 shares of the company’s stock after buying an additional 12,206 shares during the period. Redwood Investments LLC’s holdings in Stamps.com were worth $3,733,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new position in shares of Stamps.com during the first quarter worth about $9,165,000. Rice Hall James & Associates LLC raised its position in shares of Stamps.com by 1.5% in the second quarter. Rice Hall James & Associates LLC now owns 203,372 shares of the company’s stock worth $17,779,000 after buying an additional 2,925 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of 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 period. UBS Group AG raised its position in shares of Stamps.com by 189.6% in the first quarter. UBS Group AG now owns 23,314 shares of the company’s stock worth $2,477,000 after buying an additional 15,264 shares during the period. Finally, BlackRock Inc. raised its position in shares of Stamps.com by 121.1% in the first quarter. BlackRock Inc. now owns 964 shares of the company’s stock worth $103,000 after buying an additional 528 shares during the period. 97.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of Stamps.com Inc. (NASDAQ:STMP) traded down 0.04% during midday trading on Wednesday, hitting $95.53. 217,250 shares of the stock traded hands. Stamps.com Inc. has a 1-year low of $68.82 and a 1-year high of $123.75. The company has a market capitalization of $1.65 billion, a P/E ratio of 48.37 and a beta of 1.10. The stock has a 50 day moving average of $93.16 and a 200 day moving average of $89.33.
Stamps.com (NASDAQ:STMP) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.68. Stamps.com had a return on equity of 27.94% and a net margin of 12.09%. The business earned $84.01 million during the quarter, compared to the consensus estimate of $73.49 million. During the same quarter last year, the firm posted $0.97 EPS. The company’s quarterly revenue was up 73.7% on a year-over-year basis. Equities research analysts predict that Stamps.com Inc. will post $7.11 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on STMP shares. Zacks Investment Research lowered shares of Stamps.com from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 29th. Craig Hallum reaffirmed a “buy” rating on shares of Stamps.com in a research report on Tuesday, July 12th. Roth Capital reaffirmed a “buy” rating and set a $96.00 target price on shares of Stamps.com in a research report on Thursday, July 28th. Finally, B. Riley reissued a “buy” rating and issued a $150.00 price target on shares of Stamps.com in a report on Monday, July 25th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $110.67.
In other Stamps.com news, insider James Bortnak sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $93.75, for a total transaction of $468,750.00. Following the completion of the sale, the insider now owns 6,093 shares of the company’s stock, valued at approximately $571,218.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.46% of the company’s stock.
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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