Bank of America Corp DE Trims Stake in Cimpress plc (NASDAQ:CMPR)

Bank of America Corp DE lowered its holdings in shares of Cimpress plc (NASDAQ:CMPR - Free Report) by 20.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 167,960 shares of the business services provider's stock after selling 43,549 shares during the quarter. Bank of America Corp DE owned approximately 0.67% of Cimpress worth $12,046,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CMPR. Vestcor Inc purchased a new position in shares of Cimpress during the 4th quarter valued at approximately $144,000. Ameriprise Financial Inc. acquired a new stake in shares of Cimpress in the fourth quarter valued at about $228,000. Prudential Financial Inc. increased its stake in shares of Cimpress by 36.4% during the fourth quarter. Prudential Financial Inc. now owns 3,707 shares of the business services provider's stock worth $266,000 after purchasing an additional 990 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Cimpress during the 4th quarter worth about $287,000. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Cimpress by 9.0% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,112 shares of the business services provider's stock worth $295,000 after purchasing an additional 341 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMPR has been the subject of several research reports. Truist Financial cut their price objective on Cimpress from $87.00 to $60.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Wall Street Zen downgraded Cimpress from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. Finally, Barrington Research decreased their price objective on Cimpress from $95.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, May 9th.

Cimpress Trading Up 3.3%

CMPR stock traded up $1.41 during mid-day trading on Tuesday, reaching $43.64. The company's stock had a trading volume of 103,386 shares, compared to its average volume of 219,196. The company's 50 day moving average is $43.03 and its two-hundred day moving average is $58.39. Cimpress plc has a fifty-two week low of $35.21 and a fifty-two week high of $104.92. The stock has a market cap of $1.09 billion, a PE ratio of 7.22, a P/E/G ratio of 0.50 and a beta of 1.82.

Cimpress (NASDAQ:CMPR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.94). The company had revenue of $789.47 million during the quarter, compared to analysts' expectations of $798.02 million. Cimpress had a net margin of 4.75% and a negative return on equity of 27.64%. On average, analysts forecast that Cimpress plc will post 3.69 earnings per share for the current fiscal year.

Insider Activity at Cimpress

In other news, CFO Sean Edward Quinn bought 5,000 shares of Cimpress stock in a transaction on Friday, March 14th. The shares were bought at an average cost of $41.50 per share, with a total value of $207,500.00. Following the completion of the purchase, the chief financial officer now directly owns 20,224 shares of the company's stock, valued at approximately $839,296. This trade represents a 32.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.80% of the stock is currently owned by insiders.

About Cimpress

Cimpress plc provides various mass customization of printing and related products in North America, Europe, and internationally. The company operates through five segments: Vista, PrintBrothers, The Print Group, National Pen, and All Other Businesses. It offers printed and digital marketing products; internet-based canvas-print wall décor, business signage, and other printed products; business cards; and marketing materials, such as flyers and postcards, digital and marketing services, writing instruments, decorated apparel, promotional products and gifts, packaging, design services, textiles, and magazines and catalogs.