Pitney Bowes Inc. (NYSE:PBI) Short Interest Update

Key Points

• Pitney Bowes experienced a significant increase in short interest, rising by 63.6% in August to a total of 19,780,000 shares, indicating heightened investor pessimism about the stock.
• The company declared a quarterly dividend of $0.08 per share, up from the previous $0.07, reflecting confidence in its financial position despite facing revenue declines.
• Pitney Bowes announced a stock repurchase plan allowing for the reacquisition of up to $400 million in shares, signaling its belief that the stock is undervalued.

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 19,780,000 shares, anincreaseof63.6% from the July 31st total of 12,090,000 shares. Based on an average trading volume of 3,110,000 shares, the days-to-cover ratio is presently 6.4 days. Currently,11.7% of the shares of the stock are short sold. Currently,11.7% of the shares of the stock are short sold. Based on an average trading volume of 3,110,000 shares, the days-to-cover ratio is presently 6.4 days.

Pitney Bowes Stock Performance

Pitney Bowes stock traded up $0.02 during midday trading on Friday, reaching $12.26. 2,357,167 shares of the company were exchanged, compared to its average volume of 2,725,729. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -20.43, a P/E/G ratio of 0.63 and a beta of 1.29. The firm's 50-day simple moving average is $11.66 and its 200-day simple moving average is $10.24. Pitney Bowes has a 1 year low of $6.22 and a 1 year high of $13.11.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $461.91 million during the quarter, compared to analysts' expectations of $475.92 million. Pitney Bowes had a negative return on equity of 38.01% and a negative net margin of 5.60%.The firm's revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. On average, analysts forecast that Pitney Bowes will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 11th will be issued a $0.08 dividend. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.07. The ex-dividend date is Monday, August 11th. This represents a $0.32 annualized dividend and a yield of 2.6%. Pitney Bowes's dividend payout ratio (DPR) is presently -53.33%.

Pitney Bowes announced that its board has approved a stock repurchase plan on Wednesday, July 30th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 18.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Pitney Bowes currently has a consensus rating of "Hold".

Insider Buying and Selling at Pitney Bowes

In other news, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction on Monday, July 14th. The stock was sold at an average price of $12.14, for a total transaction of $424,900.00. Following the completion of the transaction, the executive vice president owned 115,405 shares of the company's stock, valued at $1,401,016.70. The trade was a 23.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Brent D. Rosenthal purchased 3,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average cost of $11.97 per share, with a total value of $35,910.00. Following the purchase, the director directly owned 3,000 shares in the company, valued at approximately $35,910. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 9.00% of the company's stock.

Institutional Trading of Pitney Bowes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC grew its holdings in Pitney Bowes by 54.0% in the 2nd quarter. Squarepoint Ops LLC now owns 566,511 shares of the technology company's stock valued at $6,181,000 after buying an additional 198,743 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Pitney Bowes by 4.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 120,771 shares of the technology company's stock worth $1,318,000 after purchasing an additional 4,658 shares during the period. Thompson Davis & CO. Inc. grew its holdings in shares of Pitney Bowes by 61.1% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 22,044 shares of the technology company's stock worth $241,000 after purchasing an additional 8,361 shares during the period. State of Wyoming grew its holdings in shares of Pitney Bowes by 49.9% during the 2nd quarter. State of Wyoming now owns 42,596 shares of the technology company's stock worth $465,000 after purchasing an additional 14,183 shares during the period. Finally, Public Sector Pension Investment Board grew its holdings in shares of Pitney Bowes by 7.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 538,356 shares of the technology company's stock worth $5,873,000 after purchasing an additional 37,002 shares during the period. Hedge funds and other institutional investors own 67.88% of the company's stock.

Pitney Bowes Company Profile

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.

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