Pitney Bowes (NYSE:PBI) Stock Price Down 4.2% – Here’s Why

Pitney Bowes Inc. (NYSE:PBI)’s share price was down 4.2% during mid-day trading on Tuesday . The company traded as low as $8.92 and last traded at $8.86. Approximately 679,045 shares changed hands during trading, a decline of 65% from the average daily volume of 1,949,301 shares. The stock had previously closed at $9.24.

Pitney Bowes Price Performance

The firm has a market cap of $1.61 billion, a P/E ratio of -4.08, a price-to-earnings-growth ratio of 0.45 and a beta of 2.00. The company’s 50-day simple moving average is $7.58 and its 200 day simple moving average is $7.18.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Friday, November 8th. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. The firm had revenue of $499.46 million during the quarter, compared to the consensus estimate of $467.80 million. Analysts anticipate that Pitney Bowes Inc. will post 0.38 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.20 annualized dividend and a yield of 2.25%. Pitney Bowes’s payout ratio is presently -9.17%.

Insiders Place Their Bets

In other Pitney Bowes news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $8.12, for a total value of $343,540.96. Following the sale, the executive vice president now owns 18,664 shares in the company, valued at $151,551.68. This trade represents a 69.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul J. Evans purchased 29,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average price of $7.80 per share, for a total transaction of $226,200.00. Following the completion of the acquisition, the director now owns 29,000 shares of the company’s stock, valued at approximately $226,200. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 14.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBI. Point72 DIFC Ltd boosted its position in Pitney Bowes by 218.0% during the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock valued at $58,000 after purchasing an additional 7,819 shares in the last quarter. Quarry LP lifted its position in shares of Pitney Bowes by 889.2% during the third quarter. Quarry LP now owns 8,319 shares of the technology company’s stock valued at $59,000 after buying an additional 7,478 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Pitney Bowes in the 3rd quarter valued at about $86,000. AQR Capital Management LLC bought a new position in shares of Pitney Bowes during the 2nd quarter worth approximately $97,000. Finally, nVerses Capital LLC lifted its position in Pitney Bowes by 59.6% during the third quarter. nVerses Capital LLC now owns 15,000 shares of the technology company’s stock valued at $107,000 after acquiring an additional 5,600 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors.

About Pitney Bowes

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.