Fisher Asset Management LLC Sells 9,888 Shares of Stamps.com Inc. (STMP)
Fisher Asset Management LLC cut its position in shares of Stamps.com Inc. (NASDAQ:STMP) by 24.0% during the third quarter, Holdings Channel reports. The institutional investor owned 31,288 shares of the company’s stock after selling 9,888 shares during the period. Fisher Asset Management LLC owned approximately 0.18% of Stamps.com worth $2,957,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Strs Ohio raised its stake in shares of Stamps.com by 8.5% in the second quarter. Strs Ohio now owns 10,200 shares of the company’s stock worth $891,000 after buying an additional 800 shares during the period. Louisiana State Employees Retirement System increased its stake in Stamps.com by 4.5% in the second quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the company’s stock worth $612,000 after buying an additional 300 shares in the last quarter. New York State Teachers Retirement System increased its stake in Stamps.com by 8.0% in the second quarter. New York State Teachers Retirement System now owns 54,299 shares of the company’s stock worth $4,747,000 after buying an additional 4,000 shares in the last quarter. S&CO Inc. purchased a new stake in Stamps.com during the second quarter worth about $262,000. Finally, Summit Creek Advisors LLC increased its stake in Stamps.com by 12.7% in the second quarter. Summit Creek Advisors LLC now owns 169,584 shares of the company’s stock worth $14,825,000 after buying an additional 19,125 shares in the last quarter. Institutional investors own 97.07% of the company’s stock.
Shares of Stamps.com Inc. (NASDAQ:STMP) traded down 3.93% during trading on Wednesday, hitting $106.20. The stock had a trading volume of 441,061 shares. Stamps.com Inc. has a 1-year low of $68.82 and a 1-year high of $123.75. The stock’s 50-day moving average price is $99.77 and its 200 day moving average price is $90.56. The firm has a market capitalization of $1.81 billion, a P/E ratio of 41.34 and a beta of 0.23.
Stamps.com (NASDAQ:STMP) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.76. The business had revenue of $92.60 million for the quarter, compared to the consensus estimate of $79.40 million. Stamps.com had a net margin of 14.05% and a return on equity of 30.57%. Stamps.com’s quarterly revenue was up 79.1% on a year-over-year basis. During the same quarter last year, the company posted $1.14 earnings per share. On average, analysts anticipate that Stamps.com Inc. will post $8.29 earnings per share for the current year.
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A number of research firms have issued reports on STMP. B. Riley reissued a “buy” rating and issued a $160.00 target price on shares of Stamps.com in a research report on Tuesday, September 20th. Roth Capital set a $133.00 target price on Stamps.com and gave the stock a “buy” rating in a research report on Sunday, November 6th. Finally, Zacks Investment Research raised Stamps.com from a “hold” rating to a “strong-buy” rating and set a $120.00 target price for the company in a research report on Thursday, November 10th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Stamps.com currently has a consensus rating of “Buy” and a consensus price target of $145.67.
In related news, Director Lloyd I. Miller III sold 35,000 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $108.00, for a total value of $3,780,000.00. Following the completion of the transaction, the director now directly owns 195,669 shares of the company’s stock, valued at $21,132,252. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James Bortnak sold 5,000 shares of the firm’s stock in a transaction on Monday, October 24th. The stock was sold at an average price of $94.54, for a total value of $472,700.00. Following the completion of the transaction, the insider now directly owns 6,093 shares of the company’s stock, valued at $576,032.22. The disclosure for this sale can be found here. 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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