Cornerstone Capital Lowers stake in Stamps.com (STMP)

Stamps.com (STMP) : Cornerstone Capital reduced its stake in Stamps.com by 0.34% during the most recent quarter end. The investment management company now holds a total of 146,785 shares of Stamps.com which is valued at $12,751,213 after selling 505 shares in Stamps.com , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Stamps.com makes up approximately 2.71% of Cornerstone Capital’s portfolio.

Other Hedge Funds, Including , Tower Research Capital (trc) added STMP to its portfolio by purchasing 2,046 company shares during the most recent quarter which is valued at $177,736. Stamps.com makes up approx 0.02% of Tower Research Capital (trc)’s portfolio.Mufg Americas Holdings Corp boosted its stake in STMP in the latest quarter, The investment management firm added 92 additional shares and now holds a total of 157 shares of Stamps.com which is valued at $13,598. Gsa Capital Partners Llp sold out all of its stake in STMP during the most recent quarter. The investment firm sold 8,761 shares of STMP which is valued $719,015.California State Teachers Retirement System boosted its stake in STMP in the latest quarter, The investment management firm added 3,655 additional shares and now holds a total of 33,934 shares of Stamps.com which is valued at $2,646,852. Stamps.com makes up approx 0.01% of California State Teachers Retirement System’s portfolio.

Stamps.com opened for trading at $86.71 and hit $88.12 on the upside on Friday, eventually ending the session at $87.72, with a gain of 0.80% or 0.7 points. The heightened volatility saw the trading volume jump to 2,64,817 shares. Company has a market cap of $1,515 M.

On the company’s financial health, Stamps.com reported $1.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.61 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.33. The company had revenue of $84.01 million for the quarter, compared to analysts expectations of $73.47 million. The company’s revenue was up 73.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS.

Many Wall Street Analysts have commented on Stamps.com. Stamps.com was Resumed by ROTH Capital to “Buy” on Jul 28, 2016.

Stamps.com Inc. is a provider of Internet-based mailing and shipping solutions. Under the Stamps.com 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. Its customers include individuals small businesses home offices medium-size businesses and large enterprises and within these segments the Company targets both mailers and shippers. In addition the Company offers multi-carrier shipping solutions under the brand names ShipStation and ShipWorks. The Company’s products and services include Mailing and Shipping Business and PhotoStamps.

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