King Luther Capital Management Corp Sells 13,242 Shares of Stamps.com Inc. (STMP)
King Luther Capital Management Corp lowered its holdings in Stamps.com Inc. (NASDAQ:STMP) by 32.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,843 shares of the software maker’s stock after selling 13,242 shares during the quarter. King Luther Capital Management Corp’s holdings in Stamps.com were worth $6,298,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Stamps.com by 4.8% during the 3rd quarter. BlackRock Inc. now owns 2,638,614 shares of the software maker’s stock worth $596,854,000 after acquiring an additional 119,818 shares in the last quarter. Hilltop Holdings Inc. bought a new position in shares of Stamps.com during the 2nd quarter worth approximately $377,000. First Quadrant L P CA bought a new position in shares of Stamps.com during the 3rd quarter worth approximately $5,310,000. Commonwealth Equity Services LLC bought a new position in shares of Stamps.com during the 2nd quarter worth approximately $534,000. Finally, Morgan Stanley raised its stake in shares of Stamps.com by 446.0% during the 2nd quarter. Morgan Stanley now owns 495,645 shares of the software maker’s stock worth $125,424,000 after acquiring an additional 404,861 shares in the last quarter. Institutional investors and hedge funds own 93.73% of the company’s stock.
Several research analysts recently commented on STMP shares. Craig Hallum reduced their price objective on shares of Stamps.com from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Maxim Group set a $320.00 price objective on shares of Stamps.com and gave the stock a “buy” rating in a research note on Wednesday, October 31st. B. Riley set a $300.00 price objective on shares of Stamps.com and gave the stock a “buy” rating in a research note on Tuesday, October 30th. ValuEngine upgraded shares of Stamps.com from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, Zacks Investment Research lowered shares of Stamps.com from a “strong-buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a research note on Friday, November 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Stamps.com presently has an average rating of “Hold” and a consensus target price of $246.86.
NASDAQ:STMP opened at $171.71 on Friday. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 1.20 and a beta of 0.20. Stamps.com Inc. has a twelve month low of $145.78 and a twelve month high of $285.74. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.08.
Stamps.com (NASDAQ:STMP) last released its earnings results on Wednesday, October 31st. The software maker reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.38. The company had revenue of $143.51 million for the quarter, compared to the consensus estimate of $135.00 million. Stamps.com had a net margin of 30.26% and a return on equity of 35.93%. Stamps.com’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.68 EPS. On average, equities research analysts expect that Stamps.com Inc. will post 9.79 earnings per share for the current year.
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.
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