Mason Street Advisors LLC acquired a new position in shares of Stamps.com Inc. (NASDAQ:STMP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,070 shares of the company’s stock, valued at approximately $268,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in Stamps.com by 14.2% in the second quarter. Royal Bank of Canada now owns 14,196 shares of the company’s stock worth $1,241,000 after buying an additional 1,764 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Stamps.com during the second quarter worth about $5,280,000. Schwab Charles Investment Management Inc. boosted its position in Stamps.com by 7.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 55,409 shares of the company’s stock worth $4,844,000 after buying an additional 3,904 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in Stamps.com by 16.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 11,771 shares of the company’s stock worth $1,029,000 after buying an additional 1,648 shares during the period. Finally, Arizona State Retirement System boosted its position in Stamps.com by 6.5% in the second quarter. Arizona State Retirement System now owns 8,191 shares of the company’s stock worth $716,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 97.07% of the company’s stock.
Stamps.com Inc. (NASDAQ:STMP) opened at 94.35 on Monday. The firm has a market capitalization of $1.63 billion, a P/E ratio of 47.77 and a beta of 1.10. Stamps.com Inc. has a 1-year low of $68.82 and a 1-year high of $123.75. The stock’s 50 day moving average is $93.61 and its 200-day moving average is $89.27.
Stamps.com (NASDAQ:STMP) last released its earnings results on Thursday, July 28th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.68. The business had revenue of $84.01 million for the quarter, compared to analyst estimates of $73.49 million. Stamps.com had a net margin of 12.09% and a return on equity of 27.94%. Stamps.com’s revenue for the quarter was up 73.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 earnings per share. Analysts forecast that Stamps.com Inc. will post $7.11 EPS for the current year.
A number of equities analysts have issued reports on STMP shares. Zacks Investment Research upgraded Stamps.com from a “hold” rating to a “strong-buy” rating and set a $92.00 target price for the company in a report on Wednesday, July 13th. B. Riley reiterated a “buy” rating and set a $160.00 target price on shares of Stamps.com in a report on Tuesday, September 20th. Craig Hallum reiterated a “buy” rating on shares of Stamps.com in a report on Tuesday, July 12th. Finally, Roth Capital reiterated a “buy” rating and set a $96.00 target price on shares of Stamps.com in a report on Thursday, July 28th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $110.67.
In related news, insider James Bortnak sold 5,000 shares of the business’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $94.53, for a total value of $472,650.00. Following the transaction, the insider now owns 6,093 shares in the company, valued at $575,971.29. The transaction was disclosed in a document filed with the SEC, which is available through this link. 11.46% of the stock is currently owned by corporate 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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