Investment firm Harbor Capital Advisors Inc. made a notable move during the second quarter as it acquired a new position in Cimpress plc, according to its recent disclosure with the Securities and Exchange Commission. The firm purchased 11,031 shares of Cimpress, a business services provider listed on the NASDAQ under the ticker symbol CMPR. These shares were valued at approximately $656,000.
The acquisition by Harbor Capital Advisors Inc. highlights growing interest in Cimpress as an investment opportunity. This move comes after Cimpress released its quarterly earnings data on July 26th. The company reported earnings per share (EPS) of $1.08 for the quarter, surpassing analysts’ consensus estimates of $0.21 by an impressive margin of $0.87.
Cimpress also exceeded revenue expectations for the quarter, recording $788.85 million compared to the consensus estimate of $782.15 million. These positive financial results have led sell-side analysts to predict that Cimpress will post earnings per share of 2.35 for the current year.
Several research firms have recently provided commentary on Cimpress. Barrington Research raised their target price for the stock from $66.00 to $91.00 and gave it an “outperform” rating in their research note on July 31st.
Truist Financial also increased their target price for Cimpress from $87.00 to $90.00 in a separate research note issued on August 17th.
Additionally, StockNews.com initiated coverage on Cimpress and assigned it a “buy” rating on August 17th as well.
Lastly, TheStreet upgraded Cimpress from a “d” rating to a “c-” rating in a research note published on July 27th.
These positive ratings and target price increases indicate confidence among analysts in Cimpress’s future performance and potential for growth.
In conclusion, Harbor Capital Advisors Inc.’s recent acquisition of a new position in Cimpress plc demonstrates growing investor interest in the company. Cimpress’s strong financial results, beating both EPS and revenue expectations for the quarter, have garnered positive ratings and target price increases from research firms. With these indicators pointing towards a promising future, Cimpress appears to be an attractive investment opportunity for those interested in the business services sector.
Red Rock Resorts, Inc.
RRR
Strong Buy
Updated on: 19/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Buy
Cimpress Plc’s Shifting Stakeholder Landscape and Intriguing Stock Market Activities
September 19, 2023 – Cimpress Plc, a business services provider, has seen an intriguing shift in its stakeholder landscape. And while it may not be the most riveting news for some, the recent activities of hedge funds and other institutional investors have caught the attention of industry enthusiasts.
One such institutional investor is Advisor Group Holdings Inc., which raised its stake in shares of Cimpress by a staggering 85.1% during the fourth quarter. The increase in shares now brings Advisor Group’s ownership to a total of 1,616 shares valued at $44,000. This move has no doubt left many perplexed as to what motivated such a significant acquisition.
Additionally, Tower Research Capital LLC TRC increased its stake in Cimpress by an impressive 239.7% during the third quarter. With an additional purchase of 1,896 shares worth $66,000, Tower Research Capital now holds a total of 2,687 shares in the company. The motivations behind this investment decision remain unknown at this time.
PNC Financial Services Group Inc. also saw fit to raise its stake in Cimpress by 12.3% during the fourth quarter. The financial services group now owns 3,161 shares valued at $87,000 after purchasing an additional 346 shares during this period. This move adds further intrigue to an already perplexing situation surrounding Cimpress’ stock.
Envestnet Asset Management Inc., too, joined the growing list of institutions raising their stakes in Cimpress. Their decision to increase ownership by 10.1% equates to an additional 290 shares valued at $201,000 during the first quarter.
Lastly, Federated Hermes Inc., a new player in this increasingly complex scenario, purchased a new stake in Cimpress worth $169,000 during the first quarter.
As these moves continue to shape the company’s shareholder structure, it remains unknown what the long-term implications may be for Cimpress as a business services provider. With 76.41% of the stock now owned by hedge funds and other institutional investors, it raises questions about the future direction of the company.
In a separate development, CFO Sean Edward Quinn recently made headlines with his sale of 3,032 shares in Cimpress. The transaction took place on August 16th at an average price of $69.74 per share, amounting to a total value of $211,451.68. Following this sale, Quinn now directly holds 14,754 shares in the company valued at $1,028,943.96.
These insider dealings add another layer of complexity to Cimpress’ current situation. In fact, insiders have collectively sold a substantial 25,838 shares of company stock over the past ninety days alone. It is worth noting that these insider sales represent approximately 18.00% of the company’s total stock.
As investors and analysts attempt to make sense of these perplexing developments within Cimpress Plc, one thing remains clear: this is certainly an interesting time for those closely following the company’s progress.
Given all these recent stock market activities surrounding Cimpress Plc, it would be prudent for shareholders and potential investors alike to stay abreast of any further updates or changes that may unfold in the coming weeks and months.
Cimpress currently operates with its stock opening at $69.87 on Tuesday. The business services provider has seen its fair share of ups and downs within the past year— with its lowest point reaching $18.00 and its highest soaring to $72.97—a range that highlights the volatility some investors may choose to navigate when considering involvement with this particular stock.
Taking into account its recent trading patterns where the stock’s 50-day simple moving average stands at $66.05 and its 200-day simple moving average at $53.64, deep analysis and thorough research become imperative for those hoping to make informed decisions in this intricate landscape.
In conclusion, the recent surge in hedge fund activity and the selling activities of insiders certainly add an element of bustiness to Cimpress Plc’s otherwise modest existence in the stock market. With stakeholders continuing to buy and sell shares, observers are left puzzled as they cling to any glimpse of insight into what lies ahead for this business services provider.
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