Connor Clark & Lunn Investment Management Ltd. Takes Position in Stamps.com Inc. (STMP)
Connor Clark & Lunn Investment Management Ltd. purchased a new position in Stamps.com Inc. (NASDAQ:STMP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,000 shares of the software maker’s stock, valued at approximately $1,810,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Stamps.com by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 313,886 shares of the software maker’s stock valued at $71,004,000 after acquiring an additional 1,797 shares during the period. Quantbot Technologies LP purchased a new position in shares of Stamps.com in the 3rd quarter valued at $167,000. Gideon Capital Advisors Inc. purchased a new position in shares of Stamps.com in the 3rd quarter valued at $376,000. Trexquant Investment LP purchased a new position in shares of Stamps.com in the 3rd quarter valued at $2,299,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Stamps.com by 77.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,792 shares of the software maker’s stock worth $405,000 after purchasing an additional 780 shares in the last quarter. Hedge funds and other institutional investors own 93.73% of the company’s stock.
In other Stamps.com news, insider Amine Khechfe sold 1,200 shares of Stamps.com stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $186.24, for a total transaction of $223,488.00. Following the completion of the sale, the insider now owns 1,541 shares of the company’s stock, valued at approximately $286,995.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Sebastian Buerba sold 2,501 shares of Stamps.com stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $222.49, for a total value of $556,447.49. Following the sale, the chief marketing officer now directly owns 720 shares of the company’s stock, valued at approximately $160,192.80. The disclosure for this sale can be found here. Insiders sold a total of 4,901 shares of company stock valued at $1,051,927 in the last three months. Insiders own 6.17% of the company’s stock.
Stamps.com (NASDAQ:STMP) last posted its quarterly earnings data on Wednesday, October 31st. The software maker reported $2.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.38. The firm had revenue of $143.51 million during the quarter, compared to analysts’ expectations of $135.00 million. Stamps.com had a return on equity of 35.93% and a net margin of 30.26%. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.68 EPS. As a group, equities research analysts expect that Stamps.com Inc. will post 9.79 EPS for the current fiscal year.
A number of research firms have recently weighed in on STMP. Craig Hallum lowered their price objective on Stamps.com from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. Zacks Investment Research cut Stamps.com from a “strong-buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a research report on Friday, November 16th. BidaskClub cut Stamps.com from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. B. Riley set a $300.00 price objective on Stamps.com and gave the stock a “buy” rating in a research report on Thursday, October 18th. Finally, ValuEngine cut Stamps.com from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Stamps.com has an average rating of “Hold” and a consensus price target of $246.86.
Stamps.com Inc provides Internet-based mailing and shipping solutions in the United States. The company offers mailing and shipping solutions to mail and ship various mail pieces and packages through the United States Postal Service (USPS) under the Stamps.com and Endicia brands. Its solutions support various USPS mail classes, including First Class Mail, Priority Mail, Priority Mail Express, Media Mail, Parcel Select, and others.
See Also: What is Cost of Capital?
Want to see what other hedge funds are holding STMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stamps.com Inc. (NASDAQ:STMP).
Receive News & Ratings for Stamps.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stamps.com and related companies with MarketBeat.com's FREE daily email newsletter.