Stamps.com (STMP) Given “Buy” Rating at B. Riley
STMP has been the subject of several other research reports. Roth Capital raised their price target on Stamps.com from $166.00 to $203.00 and gave the company a buy rating in a report on Thursday, August 3rd. Craig Hallum set a $230.00 price target on Stamps.com and gave the company a buy rating in a report on Friday, August 25th. Northland Securities restated a buy rating and set a $200.00 price target on shares of Stamps.com in a report on Thursday, September 14th. ValuEngine cut Stamps.com from a buy rating to a hold rating in a report on Monday, November 20th. Finally, Zacks Investment Research cut Stamps.com from a strong-buy rating to a hold rating in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $217.71.
Stamps.com (STMP) traded down $0.85 during midday trading on Friday, reaching $167.55. The company’s stock had a trading volume of 368,296 shares, compared to its average volume of 637,465. The stock has a market cap of $2,943.43, a PE ratio of 21.21, a PEG ratio of 1.52 and a beta of -0.04. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.80 and a quick ratio of 2.80. Stamps.com has a fifty-two week low of $100.55 and a fifty-two week high of $233.13.
Stamps.com announced that its board has initiated a stock repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $90.00 million in shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Amine Khechfe sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $202.90, for a total value of $243,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kenneth Thomas Mcbride sold 142,133 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $180.02, for a total value of $25,586,782.66. Following the completion of the sale, the chief executive officer now directly owns 73,599 shares of the company’s stock, valued at $13,249,291.98. The disclosure for this sale can be found here. Insiders sold a total of 449,381 shares of company stock valued at $89,463,027 over the last ninety days. Corporate insiders own 11.46% of the company’s stock.
Large investors have recently bought and sold shares of the company. Riverhead Capital Management LLC lifted its stake in shares of Stamps.com by 66.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 666 shares of the software maker’s stock worth $103,000 after acquiring an additional 266 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Stamps.com by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 883 shares of the software maker’s stock worth $137,000 after acquiring an additional 92 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Stamps.com by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,038 shares of the software maker’s stock worth $161,000 after acquiring an additional 156 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Stamps.com by 1.6% during the 2nd quarter. Bank of Montreal Can now owns 1,074 shares of the software maker’s stock worth $167,000 after acquiring an additional 17 shares during the last quarter. Finally, Turner Investments LLC bought a new stake in shares of Stamps.com during the 2nd quarter worth approximately $194,000. 98.76% of the stock is owned by institutional investors and hedge funds.
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Stamps.com Inc is a provider of Internet-based mailing and shipping solutions in the United States. The Company offers mailing and shipping products and services to its customers under the Stamps.com, Endicia, ShipStation, ShipWorks and ShippingEasy brands. It operates through the Internet Mailing and Shipping Services segment.
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