Jim Cramer Shed Light on These 14 Stocks Recently

9. Pitney Bowes Inc. (NYSE:PBI)

Number of Hedge Fund Holders: 33

Pitney Bowes Inc. (NYSE:PBI) is one of the stocks Jim Cramer recently shed light on. Cramer discussed how the company, and subsequently the stock, turned around after Kurt Wolf stepped in.

“Alright, what do we make of this incredible rebound in this stock of Pitney Bowes? It’s up nearly 71% year to date. Now, a lot of people still see this company as a play on mail, meaning old-fashioned snail mail, because their core business used to be mail meters and equipment that helped off send postage. As you might imagine, the stock spent decades in the doghouse; from its peak in 1999 to its lows in April 2020, Pitney Bowes lost, get this, 98% of its value. Even in late 2022, the stock was still trading at just around two bucks and change. Then an activist stepped in, a guy named Kurt Wolf of Hestia Capital. He took his activist campaign public in December of 2022, got himself on the board of directors after a proxy fight in the spring of 2023. Over the past couple years with the activist on the board, Pitney Bowes has divested money-losing lines of business, reduced its debt, repurchased shares, and this company has now repeatedly raised its dividend. This past spring, Wolf took the next step, taking over CEO of Pitney Bowes and vowing to conduct ‘a comprehensive strategic review’ for the remainder of the year, and look, it’s already paying off. Since Wolf got involved in this, stock’s up more than 400%.”

Pitney Bowes Inc. (NYSE:PBI) is a technology-focused company that provides SaaS-based shipping solutions, mailing technologies, and financial services. The company’s products support the sending, tracking, and processing of mail and parcels, while also providing clients with access to postal discounts through mail sortation services.