Cimpress (NASDAQ:CMPR) Shares Gap Down After Earnings Miss

Cimpress plc (NASDAQ:CMPR) shares gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $42.02, but opened at $39.22. Cimpress shares last traded at $37.91, with a volume of 38,218 shares changing hands.

The business services provider reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.94). The business had revenue of $789.47 million during the quarter, compared to the consensus estimate of $798.02 million. Cimpress had a net margin of 4.75% and a negative return on equity of 27.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. StockNews.com upgraded Cimpress from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Barrington Research restated an “outperform” rating and set a $119.00 price objective on shares of Cimpress in a report on Wednesday, January 29th. Finally, Truist Financial lowered their target price on shares of Cimpress from $110.00 to $87.00 and set a “buy” rating for the company in a research note on Friday, January 31st.

Insiders Place Their Bets

In related news, CFO Sean Edward Quinn purchased 5,000 shares of Cimpress stock in a transaction dated Friday, March 14th. The stock was bought at an average price of $41.50 per share, for a total transaction of $207,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 20,224 shares of the company’s stock, valued at $839,296. This represents a 32.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.80% of the company’s stock.

Hedge Funds Weigh In On Cimpress

Large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in Cimpress by 6.8% in the 4th quarter. Janus Henderson Group PLC now owns 3,041,361 shares of the business services provider’s stock valued at $218,126,000 after buying an additional 194,034 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Cimpress by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 1,833,202 shares of the business services provider’s stock valued at $131,477,000 after acquiring an additional 13,988 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in Cimpress by 30.0% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 884,076 shares of the business services provider’s stock worth $63,406,000 after acquiring an additional 203,806 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Cimpress by 3.5% during the fourth quarter. Nuveen Asset Management LLC now owns 703,955 shares of the business services provider’s stock valued at $50,488,000 after purchasing an additional 24,040 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in shares of Cimpress by 31.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 592,195 shares of the business services provider’s stock worth $42,472,000 after purchasing an additional 141,942 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Cimpress Price Performance

The firm’s 50 day moving average is $43.57 and its two-hundred day moving average is $62.33. The firm has a market capitalization of $1.00 billion, a P/E ratio of 6.60, a PEG ratio of 0.50 and a beta of 1.94.

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.