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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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% |
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Page 1 of 9 – SEC Filing
| 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) |
