Tower Research Capital LLC TRC purchased a new position in Stamps.com Inc. (NASDAQ:STMP) during the second quarter, Holdings Channel reports. The fund purchased 2,046 shares of the company’s stock, valued at approximately $179,000.
A number of other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new position in Stamps.com during the first quarter worth $9,165,000. BlackRock Institutional Trust Company N.A. raised its position in Stamps.com by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 364,031 shares of the company’s stock worth $38,689,000 after buying an additional 2,534 shares during the last quarter. UBS Group AG raised its position in Stamps.com by 189.6% in the first quarter. UBS Group AG now owns 23,314 shares of the company’s stock worth $2,477,000 after buying an additional 15,264 shares during the last quarter. BlackRock Inc. raised its position in Stamps.com by 121.1% in the first quarter. BlackRock Inc. now owns 964 shares of the company’s stock worth $103,000 after buying an additional 528 shares during the last quarter. Finally, Northpointe Capital LLC bought a new position in Stamps.com during the second quarter worth $11,211,000. 97.07% of the stock is owned by institutional investors.
Shares of Stamps.com Inc. (NASDAQ:STMP) opened at 95.18 on Tuesday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 48.19 and a beta of 1.10. The firm’s 50-day moving average price is $92.67 and its 200 day moving average price is $89.42. Stamps.com Inc. has a 1-year low of $68.82 and a 1-year high of $123.75.
Stamps.com (NASDAQ:STMP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.94 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.68. The firm earned $84.01 million during the quarter, compared to the consensus estimate of $73.49 million. Stamps.com had a net margin of 12.09% and a return on equity of 27.94%. The firm’s revenue was up 73.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 earnings per share. Equities research analysts expect that Stamps.com Inc. will post $7.11 earnings per share for the current fiscal year.
STMP has been the subject of a number of recent research reports. Zacks Investment Research lowered Stamps.com from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 29th. Craig Hallum restated a “buy” rating on shares of Stamps.com in a research note on Tuesday, July 12th. Roth Capital restated a “buy” rating and issued a $96.00 price target on shares of Stamps.com in a research note on Thursday, July 28th. Finally, B. Riley restated a “buy” rating and issued a $150.00 price target on shares of Stamps.com in a research note on Monday, July 25th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $110.67.
In other Stamps.com news, insider James Bortnak sold 5,000 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $78.99, for a total value of $394,950.00. Following the completion of the transaction, the insider now directly 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 is available at this link. 11.46% of the stock is currently owned by company insiders.
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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