HighTower Advisors LLC Has $205,000 Position in Stamps.com Inc. (STMP)
HighTower Advisors LLC decreased its stake in Stamps.com Inc. (NASDAQ:STMP) by 13.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,736 shares of the software maker’s stock after selling 273 shares during the period. HighTower Advisors LLC’s holdings in Stamps.com were worth $205,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of STMP. Victory Capital Management Inc. purchased a new stake in Stamps.com during the first quarter valued at $104,000. TrimTabs Asset Management LLC raised its stake in Stamps.com by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 1,071 shares of the software maker’s stock valued at $127,000 after buying an additional 504 shares during the last quarter. LS Investment Advisors LLC raised its stake in Stamps.com by 83.1% in the first quarter. LS Investment Advisors LLC now owns 1,093 shares of the software maker’s stock valued at $129,000 after buying an additional 496 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Stamps.com by 13.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,287 shares of the software maker’s stock valued at $152,000 after buying an additional 154 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Stamps.com during the first quarter valued at $160,000.
Stamps.com Inc. (STMP) traded up 0.72% during mid-day trading on Friday, hitting $210.35. 324,202 shares of the stock traded hands. Stamps.com Inc. has a one year low of $84.87 and a one year high of $220.25. The stock has a market capitalization of $3.56 billion, a PE ratio of 34.02 and a beta of 0.01. The company has a 50 day moving average price of $169.40 and a 200-day moving average price of $136.52.
Stamps.com (NASDAQ:STMP) last released its quarterly earnings data on Wednesday, August 2nd. The software maker reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.36. The business had revenue of $116.14 million during the quarter, compared to analysts’ expectations of $99.29 million. Stamps.com had a net margin of 26.66% and a return on equity of 34.46%. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.94 EPS. Equities analysts anticipate that Stamps.com Inc. will post $8.05 earnings per share for the current fiscal year.
Stamps.com declared that its Board of Directors has initiated a stock buyback plan on Wednesday, May 3rd that allows the company to repurchase $90.00 million in shares. This repurchase authorization allows the software maker to purchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
Several research firms have recently weighed in on STMP. Roth Capital reaffirmed a “buy” rating and set a $166.00 price objective on shares of Stamps.com in a report on Wednesday, May 31st. Zacks Investment Research raised shares of Stamps.com from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a report on Friday, June 2nd. Finally, B. Riley reaffirmed a “buy” rating and set a $210.00 price objective on shares of Stamps.com in a report on Sunday, May 28th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $192.67.
In related news, insider James Bortnak sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $131.64, for a total transaction of $526,560.00. Following the completion of the transaction, the insider now directly owns 5,985 shares in the company, valued at approximately $787,865.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mohan P. Ananda sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $208.81, for a total transaction of $8,352,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,600 shares of company stock valued at $28,417,570. 11.46% of the stock is owned by corporate insiders.
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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