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

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

Pitney Bowes Stock Up 12.6 %

PBI traded up $1.10 during trading on Wednesday, hitting $9.84. The company’s stock had a trading volume of 4,416,073 shares, compared to its average volume of 2,124,603. The firm has a market capitalization of $1.79 billion, a P/E ratio of -4.51, a PEG ratio of 0.52 and a beta of 2.01. Pitney Bowes has a twelve month low of $3.73 and a twelve month high of $9.95. The stock’s fifty 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 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. Equities research analysts expect that Pitney Bowes will post 0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $8.12, for a total transaction of $343,540.96. Following the sale, the executive vice president now owns 18,664 shares of the company’s stock, valued at $151,551.68. This trade represents a 69.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paul J. Evans purchased 29,000 shares of Pitney Bowes stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average price of $7.80 per share, for a total transaction of $226,200.00. Following the completion of the acquisition, the director now owns 29,000 shares of the company’s stock, valued at approximately $226,200. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 14.30% of the company’s stock.

Institutional Trading of Pitney Bowes

Several institutional investors and hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in shares of Pitney Bowes by 130.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock valued at $37,000 after acquiring an additional 2,873 shares in the last quarter. Quarry LP increased its holdings in Pitney Bowes by 889.2% during the third quarter. Quarry LP now owns 8,319 shares of the technology company’s stock worth $59,000 after buying an additional 7,478 shares during the last quarter. Truvestments Capital LLC bought a new stake in Pitney Bowes in the third quarter worth about $86,000. Xponance Inc. boosted its stake in Pitney Bowes by 36.7% in the fourth quarter. Xponance Inc. now owns 14,283 shares of the technology company’s stock valued at $103,000 after acquiring an additional 3,837 shares during the last quarter. Finally, nVerses Capital LLC grew its position in shares of Pitney Bowes by 59.6% during the 3rd quarter. nVerses Capital LLC now owns 15,000 shares of the technology company’s stock valued at $107,000 after acquiring an additional 5,600 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.