Virginia Retirement Systems ET AL Takes Position in Stamps.com Inc. (STMP)
Virginia Retirement Systems ET AL acquired a new stake in shares of Stamps.com Inc. (NASDAQ:STMP) during the second quarter, Holdings Channel reports. The fund acquired 6,000 shares of the company’s stock, valued at approximately $525,000.
A number of other hedge funds have also recently bought and sold shares of STMP. BlackRock Inc. boosted its stake in Stamps.com by 121.1% in the first quarter. BlackRock Inc. now owns 964 shares of the company’s stock valued at $103,000 after buying an additional 528 shares during the last quarter. BlackRock Japan Co. Ltd raised its position in Stamps.com by 82.7% in the first quarter. BlackRock Japan Co. Ltd now owns 1,748 shares of the company’s stock valued at $186,000 after buying an additional 791 shares during the last quarter. PineBridge Investments L.P. raised its position in Stamps.com by 8.3% in the second quarter. PineBridge Investments L.P. now owns 1,991 shares of the company’s stock valued at $174,000 after buying an additional 153 shares during the last quarter. Teacher Retirement System of Texas raised its position in Stamps.com by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 2,084 shares of the company’s stock valued at $182,000 after buying an additional 253 shares during the last quarter. Finally, Societe Generale acquired a new position in Stamps.com during the second quarter valued at about $185,000. 97.07% of the stock is currently owned by institutional investors and hedge funds.
Stamps.com Inc. (NASDAQ:STMP) opened at 95.53 on Thursday. The company has a 50-day moving average of $93.16 and a 200-day moving average of $89.33. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 48.37 and a beta of 1.10. Stamps.com Inc. has a one year low of $68.82 and a one year high of $123.75.
Stamps.com (NASDAQ:STMP) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.68. Stamps.com had a net margin of 12.09% and a return on equity of 27.94%. The firm had revenue of $84.01 million for the quarter, compared to the consensus estimate of $73.49 million. During the same period last year, the firm earned $0.97 earnings per share. The company’s quarterly revenue was up 73.7% on a year-over-year basis. On average, equities analysts forecast that Stamps.com Inc. will post $7.11 EPS for the current fiscal year.
STMP has been the subject of several recent research reports. Zacks Investment Research lowered shares of Stamps.com from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 29th. Craig Hallum reiterated a “buy” rating on shares of Stamps.com in a report on Tuesday, July 12th. Roth Capital reiterated a “buy” rating and set a $96.00 target price on shares of Stamps.com in a report on Thursday, July 28th. Finally, B. Riley reiterated a “buy” rating and set a $150.00 target price 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 stock. The company presently has a consensus rating of “Buy” and a consensus target price of $110.67.
In other news, insider James Bortnak sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $93.75, for a total transaction of $468,750.00. Following the transaction, the insider now directly owns 6,093 shares in the company, valued at $571,218.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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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