GSA Capital Partners LLP Buys New Holdings in Pitney Bowes Inc. $PBI

GSA Capital Partners LLP bought a new stake in shares of Pitney Bowes Inc. (NYSE:PBI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 170,453 shares of the technology company’s stock, valued at approximately $1,802,000.

Other institutional investors also recently bought and sold shares of the company. Capital Management Corp VA lifted its holdings in Pitney Bowes by 8.2% in the 3rd quarter. Capital Management Corp VA now owns 2,337,760 shares of the technology company’s stock worth $26,674,000 after buying an additional 176,180 shares during the period. Evergreen Wealth Management LLC purchased a new stake in Pitney Bowes in the 3rd quarter worth approximately $6,691,000. LSV Asset Management purchased a new stake in Pitney Bowes in the 3rd quarter worth approximately $13,812,000. Phoenix Financial Ltd. purchased a new stake in Pitney Bowes in the 3rd quarter worth approximately $3,493,000. Finally, Denali Advisors LLC purchased a new stake in Pitney Bowes in the 3rd quarter worth approximately $1,710,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PBI. The Goldman Sachs Group set a $15.20 target price on Pitney Bowes in a research note on Friday, May 8th. Wall Street Zen upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Zacks Research raised Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Truist Financial raised their price objective on Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. Finally, Bank of America raised Pitney Bowes from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $9.50 to $16.50 in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.18.

Pitney Bowes Trading Down 5.0%

Pitney Bowes stock opened at $15.63 on Wednesday. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.74 and a beta of 1.64. The stock has a fifty day simple moving average of $12.74 and a two-hundred day simple moving average of $11.10. Pitney Bowes Inc. has a 12 month low of $8.95 and a 12 month high of $16.56.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The business had revenue of $477.41 million during the quarter, compared to analyst estimates of $471.83 million. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. On average, equities research analysts forecast that Pitney Bowes Inc. will post 1.62 EPS for the current fiscal year.

Pitney Bowes Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Monday, May 18th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. Pitney Bowes’s payout ratio is presently 38.83%.

Insider Buying and Selling at Pitney Bowes

In related news, CEO Kurt James Wolf sold 389,161 shares of Pitney Bowes stock in a transaction on Friday, May 8th. The stock was sold at an average price of $15.69, for a total value of $6,105,936.09. Following the completion of the sale, the chief executive officer owned 363,853 shares of the company’s stock, valued at $5,708,853.57. The trade was a 51.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brent D. Rosenthal acquired 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $10.22 per share, with a total value of $40,880.00. Following the acquisition, the director directly owned 9,000 shares of the company’s stock, valued at $91,980. This trade represents a 80.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 2,456,054 shares of company stock valued at $34,864,180 in the last ninety days. 6.50% of the stock is currently owned by corporate insiders.

Pitney Bowes Company 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.