Pitney Bowes Inc. (NYSE:PBI) Shares Sold by Dark Forest Capital Management LP

Dark Forest Capital Management LP lessened its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 39.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,924 shares of the technology company’s stock after selling 30,686 shares during the quarter. Dark Forest Capital Management LP’s holdings in Pitney Bowes were worth $243,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. nVerses Capital LLC purchased a new position in shares of Pitney Bowes during the 2nd quarter valued at approximately $48,000. Point72 DIFC Ltd grew its holdings in Pitney Bowes by 218.0% during the 2nd quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock worth $58,000 after acquiring an additional 7,819 shares in the last quarter. William Howard & Co Financial Advisors Inc bought a new stake in shares of Pitney Bowes in the 1st quarter worth about $52,000. SageView Advisory Group LLC acquired a new stake in shares of Pitney Bowes in the 1st quarter valued at about $57,000. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Pitney Bowes by 15.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after purchasing an additional 2,054 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st.

Pitney Bowes Trading Down 0.1 %

PBI stock opened at $7.11 on Monday. The stock’s 50 day simple moving average is $6.80 and its 200 day simple moving average is $5.62. Pitney Bowes Inc. has a 12-month low of $2.94 and a 12-month high of $7.70. The firm has a market cap of $1.28 billion, a P/E ratio of -3.28, a P/E/G ratio of 1.36 and a beta of 1.98.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. Pitney Bowes had a negative net margin of 8.05% and a negative return on equity of 5.31%. The company had revenue of $793.17 million for the quarter, compared to the consensus estimate of $771.65 million. During the same period last year, the firm posted ($0.02) EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts forecast that Pitney Bowes Inc. will post 0.35 EPS for the current fiscal year.

Pitney Bowes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Thursday, August 22nd. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.22%.

About Pitney Bowes

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.