Maxi Investments CY Ltd Buys Shares of 316,000 Pitney Bowes Inc. $PBI

Key Points

• Maxi Investments opened a new position in Pitney Bowes, buying 316,000 shares (~$3.34M) in Q4 and owning about 0.20% of the company, while overall institutional ownership stands near 67.9% with several funds materially increasing stakes.
• Significant insider moves occurred: CEO Kurt James Wolf sold 160,289 shares under a 10b5-1 plan (a ~22.8% cut to his stake) and insiders have sold ~503,108 shares in the past three months, although a director bought 4,000 shares.
• Pitney Bowes reported Q EPS of $0.47 (in line with estimates) and slight revenue beat, but analysts hold a consensus "Hold" rating with an average target of $12.93, and the company declared a reduced quarterly dividend of $0.01 (annualized $0.04, ~0.3% yield).

Maxi Investments CY Ltd purchased a new position in Pitney Bowes Inc. (NYSE:PBI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 316,000 shares of the technology company's stock, valued at approximately $3,340,000. Maxi Investments CY Ltd owned about 0.20% of Pitney Bowes as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PBI. Cannell & Spears LLC grew its position in shares of Pitney Bowes by 89.5% during the 3rd quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company's stock valued at $38,389,000 after buying an additional 1,588,579 shares during the last quarter. LSV Asset Management bought a new position in Pitney Bowes in the third quarter worth about $13,812,000. Cibc World Market Inc. boosted its stake in Pitney Bowes by 2,724.6% in the third quarter. Cibc World Market Inc. now owns 836,071 shares of the technology company's stock valued at $9,540,000 after acquiring an additional 806,471 shares during the period. Mizuho Markets Americas LLC acquired a new position in Pitney Bowes in the third quarter valued at approximately $7,683,000. Finally, Invesco Ltd. grew its holdings in shares of Pitney Bowes by 29.5% during the third quarter. Invesco Ltd. now owns 2,622,003 shares of the technology company's stock valued at $29,917,000 after purchasing an additional 597,938 shares during the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PBI shares. Zacks Research cut Pitney Bowes from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 19th. Wall Street Zen upgraded Pitney Bowes from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 25th. Weiss Ratings lowered Pitney Bowes from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, April 24th. Citizens Jmp raised their target price on Pitney Bowes from $13.00 to $14.00 and gave the company a "market outperform" rating in a research note on Friday, April 17th. Finally, Bank of America began coverage on shares of Pitney Bowes in a report on Tuesday, February 17th. They set an "underperform" rating and a $9.00 price target for the company. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $12.93.

Insider Buying and Selling at Pitney Bowes

In other news, CEO Kurt James Wolf sold 160,289 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $11.06, for a total transaction of $1,772,796.34. Following the transaction, the chief executive officer directly owned 543,211 shares of the company's stock, valued at approximately $6,007,913.66. This trade represents a 22.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brent D. Rosenthal acquired 4,000 shares of the business's stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $10.22 per share, for a total transaction of $40,880.00. Following the completion of the purchase, the director owned 9,000 shares of the company's stock, valued at approximately $91,980. This represents a 80.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 503,108 shares of company stock valued at $5,355,063. Company insiders own 6.50% of the company's stock.

Pitney Bowes Trading Up 3.7%

Shares of NYSE:PBI opened at $15.59 on Friday. The firm's 50 day moving average is $11.94 and its two-hundred day moving average is $10.87. The firm has a market capitalization of $2.24 billion, a P/E ratio of 15.13, a PEG ratio of 0.96 and a beta of 1.64. Pitney Bowes Inc. has a 52 week low of $8.95 and a 52 week high of $15.95.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The business had revenue of $477.41 million during the quarter, compared to the consensus estimate of $471.83 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The business's revenue was down 3.2% on a year-over-year basis. Analysts predict that Pitney Bowes Inc. will post 1.58 EPS for the current year.

Pitney Bowes Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Monday, May 18th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, May 18th. Pitney Bowes's payout ratio is 34.95%.

Pitney Bowes Profile

Pitney Bowes Inc NYSE: PBI is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company's core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.

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