Northpointe Capital LLC acquired a new stake in Stamps.com Inc. (NASDAQ:STMP) during the second quarter, Holdings Channel reports. The fund acquired 128,247 shares of the company’s stock, valued at approximately $11,211,000. Stamps.com accounts for approximately 1.3% of Northpointe Capital LLC’s holdings, making the stock its 17th largest position.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Redwood Investments LLC boosted its position in shares of Stamps.com by 40.0% in the second quarter. Redwood Investments LLC now owns 42,697 shares of the company’s stock valued at $3,733,000 after buying an additional 12,206 shares during the period. Rice Hall James & Associates LLC boosted its stake in shares of Stamps.com by 1.5% in the second quarter. Rice Hall James & Associates LLC now owns 203,372 shares of the company’s stock valued at $17,779,000 after buying an additional 2,925 shares during the period. Advisory Services Network LLC bought a new stake in shares of Stamps.com during the second quarter valued at about $502,000. American Century Companies Inc. boosted its stake in shares of Stamps.com by 45.0% in the second quarter. American Century Companies Inc. now owns 79,902 shares of the company’s stock valued at $6,985,000 after buying an additional 24,806 shares during the period. Finally, Strs Ohio boosted 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 valued at $891,000 after buying an additional 800 shares during the period. 97.07% of the stock is currently owned by institutional investors.
Shares of Stamps.com Inc. (NASDAQ:STMP) traded up 0.71% during mid-day trading on Monday, hitting $95.18. The stock had a trading volume of 212,719 shares. Stamps.com Inc. has a 12 month low of $68.82 and a 12 month high of $123.75. The firm has a market cap of $1.64 billion, a PE ratio of 48.19 and a beta of 1.10. The stock’s 50-day moving average is $92.43 and its 200 day moving average is $89.89.
Stamps.com (NASDAQ:STMP) last announced its earnings results on Thursday, July 28th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.68. The company had revenue of $84.01 million for the quarter, compared to analyst estimates of $73.49 million. Stamps.com had a return on equity of 27.94% and a net margin of 12.09%. The firm’s quarterly revenue was up 73.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 earnings per share. Equities research analysts predict that Stamps.com Inc. will post $7.11 earnings per share for the current fiscal year.
Several brokerages have issued reports on STMP. Zacks Investment Research cut Stamps.com from a “strong-buy” rating to a “hold” rating in a research report on Thursday. B. Riley reaffirmed a “buy” rating and set a $160.00 target price on shares of Stamps.com in a research report on Tuesday, September 20th. Roth Capital reaffirmed a “buy” rating and set a $96.00 target price on shares of Stamps.com in a research report on Thursday, July 28th. Finally, Craig Hallum reaffirmed a “buy” rating on shares of Stamps.com in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $110.67.
In other Stamps.com news, insider James Bortnak sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $78.99, for a total value of $394,950.00. Following the sale, the insider now owns 6,093 shares of the company’s stock, valued at $481,286.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.46% of the stock is owned by company 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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