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Stamps.com (STMP): Park West Asset Management Discloses Big Boost In Stake

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Peter S. Park and his team have stepped up their interest in Stamps.com Inc (NASDAQ:STMP). According to a recent regulatory filing, Park’s fund, Park West Asset Management, has boosted its stake in the company to 920,381 shares from just 160,000 shares held at the end of the first quarter. The fund’s current position amounts to 5.3% of the company’s outstanding stock.

A provider of online postage services, Stamps.com Inc (NASDAQ:STMP) has a market cap of $1.45 billion and is currently trading at a trailing price-to-earnings (P/E) ratio of 42, which is a bit lower than the industry average of 54 according to data compiled by Yahoo! Finance. So far this year, the stock’s performance has been rather disappointing, as shares are currently down by 25% year-to-date.

Stamps.com’s recently issued its second quarter earnings report, which might provide the stock with a boost, as the company managed to surpass expectations. Revenue came it at $84 million for the quarter, up by 75% year-over-year and ahead of analysts’ forecast of $73.2 million, while adjusted earnings stood at $1.94 per share, easily beating the consensus of $1.34 per share. The company also issued improved full-year guidance, with it now expecting to earn between $7.00 and $7.50 per share on revenue of $320 million-to-$345 million, up from previous forecasts of $6.00 to $6.50 per share on revenue of $310 million-to-$330 million.

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Africa Studio/Shutterstock.com

During the first three months of 2016, Stamps.com Inc (NASDAQ:STMP) registered a boost in popularity among the funds tracked by Insider Monkey. The number of long positions held by that collection of funds rose to 29 as of the end of March, from 22 at the end of December, and their combined holdings reached 13% of the company’s common stock. Jim Simons‘ Renaissance Technologies held a sizable position in Stamps.com of 254,124 shares on March 31, though it was down by 57% compared to the end of the previous quarter.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Park West Asset Management 920,381 0 920,381 0 920,381 5.3%
Peter S. Park 920,381 0 920,381 0 920,381 5.3%
Peter S. Park
Peter S. Park
Park West Asset Management

Page 1 of 9 – SEC Filing


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.  )*
STAMPS.COM, INC.
(Name of Issuer)
COMMON STOCK, $0.001 PAR VALUE PER SHARE
(Title of Class of Securities)
852857200
(CUSIP Number)
July 29, 2016
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule 13G is filed:
  Rule 13d-1(b)
  Rule 13d-1(c)
  Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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