SG Americas Securities LLC Cuts Stake in Cimpress plc $CMPR

Key Points

• SG Americas Securities LLC cut its Cimpress stake by 61.5% in the first quarter, selling 26,240 shares and ending with 16,428 shares valued at about $1.2 million.
• Cimpress reported better-than-expected quarterly results, posting EPS of $0.55 versus the $0.15 consensus and revenue of $886.21 million versus estimates of $858.80 million.
• Despite some insider selling, Wall Street sentiment remains bullish: analysts currently rate Cimpress a Buy on average, with a consensus price target of $111.50.

SG Americas Securities LLC cut its holdings in shares of Cimpress plc (NASDAQ:CMPR - Free Report) by 61.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,428 shares of the business services provider's stock after selling 26,240 shares during the quarter. SG Americas Securities LLC owned 0.07% of Cimpress worth $1,199,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ieq Capital LLC increased its position in shares of Cimpress by 0.4% during the fourth quarter. Ieq Capital LLC now owns 58,058 shares of the business services provider's stock worth $3,866,000 after acquiring an additional 220 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Cimpress by 2.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 8,905 shares of the business services provider's stock valued at $593,000 after acquiring an additional 225 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Cimpress by 1.3% in the fourth quarter. Cerity Partners LLC now owns 18,477 shares of the business services provider's stock valued at $1,230,000 after acquiring an additional 233 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Cimpress by 4.7% in the fourth quarter. Captrust Financial Advisors now owns 5,263 shares of the business services provider's stock valued at $350,000 after purchasing an additional 237 shares during the period. Finally, Headlands Technologies LLC boosted its holdings in Cimpress by 32.3% in the second quarter. Headlands Technologies LLC now owns 986 shares of the business services provider's stock valued at $46,000 after purchasing an additional 241 shares during the period. Hedge funds and other institutional investors own 77.64% of the company's stock.

Cimpress Stock Performance

Cimpress stock opened at $97.62 on Friday. The stock has a market cap of $2.37 billion, a P/E ratio of 54.84 and a beta of 1.79. The company has a fifty day simple moving average of $92.72 and a 200-day simple moving average of $80.69. Cimpress plc has a 12-month low of $42.08 and a 12-month high of $106.13.

Cimpress (NASDAQ:CMPR - Get Free Report) last issued its earnings results on Wednesday, April 29th. The business services provider reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.40. The firm had revenue of $886.21 million during the quarter, compared to the consensus estimate of $858.80 million. Cimpress had a net margin of 1.24% and a negative return on equity of 8.25%. As a group, sell-side analysts forecast that Cimpress plc will post 3.81 earnings per share for the current fiscal year.

Insider Transactions at Cimpress

In other news, EVP Maarten Wensveen sold 19,251 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $92.96, for a total transaction of $1,789,572.96. Following the completion of the transaction, the executive vice president directly owned 19,674 shares of the company's stock, valued at approximately $1,828,895.04. This represents a 49.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sean Edward Quinn sold 5,009 shares of the company's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $104.22, for a total value of $522,037.98. Following the transaction, the executive vice president directly owned 28,937 shares of the company's stock, valued at approximately $3,015,814.14. This represents a 14.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 47,240 shares of company stock valued at $4,715,549 over the last ninety days. 10.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CMPR has been the subject of several analyst reports. Truist Financial set a $110.00 target price on Cimpress in a research note on Friday, May 1st. Wall Street Zen raised Cimpress from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 14th. Barrington Research lifted their price objective on Cimpress from $95.00 to $113.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Zacks Research raised Cimpress from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 2nd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Cimpress in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $111.50.

Cimpress Company Profile

Cimpress NV is a global leader in mass customization and web-to-print services, offering businesses and consumers an online platform to design, order and personalize printed marketing materials and promotional products. As the parent company of Vistaprint and a portfolio of regional print service providers, Cimpress leverages proprietary technology to connect millions of small- and medium-sized customers with a network of manufacturing facilities around the world. Its product range spans business cards, brochures, signage, labels, apparel, packaging and a variety of bespoke merchandise.

The company traces its roots to Vistaprint, founded in 1995 by Robert W.

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