Stock Traders Buy Large Volume of Pitney Bowes Call Options (NYSE:PBI)

Pitney Bowes Inc. (NYSE:PBI) was the recipient of unusually large options trading on Wednesday. Investors bought 15,709 call options on the company. This represents an increase of approximately 252% compared to the typical volume of 4,464 call options.

Pitney Bowes Trading Up 12.6 %

Shares of NYSE:PBI traded up $1.10 on Wednesday, hitting $9.84. 4,416,073 shares of the company were exchanged, compared to its average volume of 2,124,603. Pitney Bowes has a 1-year low of $3.73 and a 1-year high of $9.95. The firm has a market capitalization of $1.79 billion, a P/E ratio of -4.51, a price-to-earnings-growth ratio of 0.52 and a beta of 2.01. The stock’s 50 day moving average price is $7.78 and its 200 day moving average price is $7.33.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. On average, equities analysts predict that Pitney Bowes will post 0.4 EPS for the current fiscal year.

Insider Transactions at Pitney Bowes

In other news, Director Paul J. Evans bought 29,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $7.80 per share, with a total value of $226,200.00. Following the transaction, the director now directly owns 29,000 shares in the company, valued at approximately $226,200. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $9.02, for a total transaction of $315,700.00. Following the transaction, the executive vice president now owns 124,124 shares in the company, valued at approximately $1,119,598.48. This represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On Pitney Bowes

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Pitney Bowes by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company’s stock worth $153,217,000 after buying an additional 1,299,716 shares during the period. Hestia Capital Management LLC acquired a new position in shares of Pitney Bowes during the fourth quarter worth $114,326,000. Geode Capital Management LLC raised its stake in Pitney Bowes by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,628,672 shares of the technology company’s stock valued at $25,878,000 after buying an additional 51,093 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Pitney Bowes by 47.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company’s stock worth $13,139,000 after purchasing an additional 586,249 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Pitney Bowes by 182.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock worth $6,897,000 after acquiring an additional 624,878 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Company Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.