Investors Buy Large Volume of Put Options on Pitney Bowes (PBI)

Pitney Bowes Inc. (NYSE:PBI) was the recipient of some unusual options trading activity on Friday. Stock investors purchased 3,591 put options on the company. This is an increase of approximately 1,635% compared to the average daily volume of 207 put options.

Shares of Pitney Bowes (NYSE PBI) opened at $13.18 on Monday. Pitney Bowes has a 1 year low of $9.50 and a 1 year high of $16.60. The company has a debt-to-equity ratio of 35.49, a quick ratio of 1.37 and a current ratio of 1.42. The stock has a market cap of $2,461.07, a price-to-earnings ratio of 27.46 and a beta of 1.11.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). Pitney Bowes had a net margin of 2.64% and a negative return on equity of 5,297.85%. The business had revenue of $842.82 million for the quarter, compared to the consensus estimate of $837.60 million. During the same period in the previous year, the firm earned $0.44 EPS. The company’s revenue was up .5% on a year-over-year basis. sell-side analysts forecast that Pitney Bowes will post 1.38 earnings per share for the current year.

PBI has been the subject of a number of recent research reports. ValuEngine raised shares of Pitney Bowes from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Loop Capital cut their price objective on shares of Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Thursday, November 2nd. Finally, Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.50.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PBI. Russell Investments Group Ltd. lifted its stake in shares of Pitney Bowes by 27.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 59,138 shares of the technology company’s stock valued at $895,000 after buying an additional 12,566 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Pitney Bowes by 13.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 880,997 shares of the technology company’s stock valued at $13,304,000 after buying an additional 102,102 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Pitney Bowes by 11.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock valued at $106,000 after buying an additional 748 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Pitney Bowes by 3.3% during the 2nd quarter. Principal Financial Group Inc. now owns 789,909 shares of the technology company’s stock valued at $11,928,000 after buying an additional 24,959 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Pitney Bowes by 1.7% during the 2nd quarter. Swiss National Bank now owns 310,500 shares of the technology company’s stock valued at $4,689,000 after buying an additional 5,200 shares in the last quarter. Institutional investors own 73.74% of the company’s stock.

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Pitney Bowes Company Profile

Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.

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