Cimpress (NASDAQ:CMPR) Shares Gap Down Following Weak Earnings

Cimpress plc (NASDAQ:CMPR)’s share price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $84.30, but opened at $80.93. Cimpress shares last traded at $76.53, with a volume of 43,900 shares trading hands.

The business services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.29). The firm had revenue of $780.59 million during the quarter, compared to analysts’ expectations of $782.65 million. Cimpress had a negative return on equity of 14.67% and a net margin of 2.69%. During the same period last year, the firm posted ($0.97) earnings per share.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barrington Research lifted their price objective on Cimpress from $100.00 to $113.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Truist Financial boosted their price objective on shares of Cimpress from $90.00 to $110.00 and gave the company a “buy” rating in a report on Friday, February 2nd.

Insider Buying and Selling at Cimpress

In other Cimpress news, EVP Maarten Wensveen sold 1,651 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $90.00, for a total transaction of $148,590.00. Following the completion of the sale, the executive vice president now directly owns 10,779 shares of the company’s stock, valued at $970,110. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Florian Baumgartner sold 5,683 shares of Cimpress stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $89.97, for a total transaction of $511,299.51. Following the transaction, the chief executive officer now directly owns 33,793 shares of the company’s stock, valued at approximately $3,040,356.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Maarten Wensveen sold 1,651 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $90.00, for a total transaction of $148,590.00. Following the completion of the sale, the executive vice president now directly owns 10,779 shares of the company’s stock, valued at $970,110. The disclosure for this sale can be found here. Insiders sold a total of 25,292 shares of company stock worth $2,319,309 in the last three months. 17.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cimpress

A number of hedge funds have recently modified their holdings of CMPR. DekaBank Deutsche Girozentrale purchased a new position in shares of Cimpress during the 3rd quarter valued at $88,000. Contravisory Investment Management Inc. bought a new position in shares of Cimpress in the fourth quarter worth about $185,000. Principal Financial Group Inc. bought a new stake in Cimpress during the 1st quarter valued at approximately $200,000. Crestwood Advisors Group LLC purchased a new position in Cimpress in the 3rd quarter worth approximately $210,000. Finally, Olympiad Research LP purchased a new stake in Cimpress during the 4th quarter valued at approximately $212,000. 77.64% of the stock is currently owned by institutional investors.

Cimpress Price Performance

The firm’s 50-day moving average price is $91.13 and its 200-day moving average price is $80.26. The stock has a market cap of $2.21 billion, a P/E ratio of 55.03, a PEG ratio of 1.11 and a beta of 1.94.

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.