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

Shares of Cimpress plc (NASDAQ:CMPR) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. 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.

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

Analysts Set New Price Targets

Several analysts recently commented on CMPR shares. StockNews.com raised Cimpress from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 8th. Truist Financial reduced their price target on shares of Cimpress from $110.00 to $87.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Barrington Research reissued an “outperform” rating and issued a $119.00 price objective on shares of Cimpress in a report on Wednesday, January 29th.

Insider Transactions at Cimpress

In other news, CFO Sean Edward Quinn bought 5,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were bought at an average price of $41.50 per share, for a total transaction of $207,500.00. Following the purchase, the chief financial officer now owns 20,224 shares in the company, valued at approximately $839,296. The trade was a 32.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cimpress

Hedge funds have recently modified their holdings of the company. CWM LLC lifted its stake in shares of Cimpress by 835.5% during the 1st quarter. CWM LLC now owns 5,323 shares of the business services provider’s stock valued at $241,000 after buying an additional 4,754 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Cimpress by 104.9% in the first quarter. New York State Common Retirement Fund now owns 35,152 shares of the business services provider’s stock valued at $1,590,000 after acquiring an additional 18,000 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of Cimpress in the first quarter valued at about $214,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Cimpress by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,888 shares of the business services provider’s stock worth $544,000 after acquiring an additional 4,168 shares during the period. Finally, Institute for Wealth Management LLC. purchased a new stake in shares of Cimpress during the first quarter worth about $410,000. 77.64% of the stock is currently owned by institutional investors.

Cimpress Trading Down 6.6 %

The firm has a 50 day moving average of $43.77 and a 200-day moving average of $62.62. The company has a market cap of $986.79 million, a P/E ratio of 6.50, a P/E/G 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.