Cimpress (NASDAQ:CMPR) Shares Gap Down Following Weak Earnings

Cimpress plc (NASDAQ:CMPR) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $84.30, but opened at $80.93. Cimpress shares last traded at $76.53, with a volume of 43,900 shares traded.

The business services provider reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.29). The company had revenue of $780.59 million for the quarter, compared to analyst estimates of $782.65 million. Cimpress had a negative return on equity of 14.67% and a net margin of 2.69%. During the same period in the previous year, the business posted ($0.97) EPS.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CMPR shares. Barrington Research increased their price target on shares of Cimpress from $100.00 to $113.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Truist Financial increased their target price on Cimpress from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 2nd.

Insider Activity

In related news, CEO Florian Baumgartner sold 3,410 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $84.83, for a total transaction of $289,270.30. Following the sale, the chief executive officer now owns 29,804 shares in the company, valued at $2,528,273.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Maarten Wensveen sold 1,651 shares of Cimpress stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $90.00, for a total value of $148,590.00. Following the sale, the executive vice president now directly owns 10,779 shares in the company, valued at approximately $970,110. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Florian Baumgartner sold 3,410 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $84.83, for a total transaction of $289,270.30. Following the completion of the transaction, the chief executive officer now owns 29,804 shares of the company’s stock, valued at approximately $2,528,273.32. The disclosure for this sale can be found here. In the last three months, insiders sold 25,292 shares of company stock valued at $2,319,309. Company insiders own 17.90% of the company’s stock.

Institutional Investors Weigh In On Cimpress

A number of hedge funds have recently made changes to their positions in the business. Swiss National Bank increased its position in Cimpress by 1.1% in the 3rd quarter. Swiss National Bank now owns 37,600 shares of the business services provider’s stock valued at $2,632,000 after acquiring an additional 400 shares during the period. Handelsbanken Fonder AB increased its stake in Cimpress by 7.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 6,996 shares of the business services provider’s stock valued at $490,000 after buying an additional 496 shares during the period. Ingalls & Snyder LLC raised its position in shares of Cimpress by 0.6% during the 3rd quarter. Ingalls & Snyder LLC now owns 93,797 shares of the business services provider’s stock worth $6,567,000 after buying an additional 557 shares in the last quarter. Graham Capital Management L.P. lifted its stake in shares of Cimpress by 22.7% in the 3rd quarter. Graham Capital Management L.P. now owns 5,358 shares of the business services provider’s stock worth $375,000 after acquiring an additional 992 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Cimpress by 13.3% during the third quarter. Deutsche Bank AG now owns 9,472 shares of the business services provider’s stock valued at $663,000 after acquiring an additional 1,114 shares during the period. Institutional investors own 77.64% of the company’s stock.

Cimpress Price Performance

The stock has a market cap of $2.21 billion, a P/E ratio of 55.03, a PEG ratio of 1.11 and a beta of 1.94. The company has a fifty day moving average of $91.13 and a 200 day moving average of $80.26.

About Cimpress

Cimpress plc provides various mass customization of printing and related products in North America, Europe, and internationally. The company operates through five segments: Vista, PrintBrothers, The Print Group, National Pen, and All Other Businesses. It offers printed and digital marketing products; internet-based canvas-print wall décor, business signage, and other printed products; business cards; and marketing materials, such as flyers and postcards, digital and marketing services, writing instruments, decorated apparel, promotional products and gifts, packaging, design services, textiles, and magazines and catalogs.