Pitney Bowes Inc. (PBI): Insiders and Hedge Funds Are Buying, Should You?

Is Pitney Bowes Inc. (NYSE:PBI) a superb investment today? Prominent investors are taking an optimistic view. The number of long hedge fund bets moved up by seven lately.

Mention something original about this stock in the first paragraph. It could be about some recent news, a regulatory filing, etc. (just quickly search Yahoo Finance to find what is going on with this stock)

Pitney Bowes Inc. (NYSE:PBI)

“Pitney Bowes Inc. (NYSE:PBI) today announced it has entered into a multi-year licensing agreement with Twitter, the leading global real-time information network, to provide Location Intelligence solutions for their mobile platform,” according to a report on Zacks Investment Research.

With all of this in mind, let’s take a look at the key action regarding Pitney Bowes Inc. (NYSE:PBI).

Hedge fund activity in Pitney Bowes Inc. (NYSE:PBI)

At the end of the third quarter, a total of 31 of the hedge funds Insider Monkey tracks were bullish in this stock, a change of 29 percent from the second quarter. With hedge funds’ sentiment swirling, there exists a select group of noteworthy hedge fund managers who were upping their holdings substantially.

When looking at the hedgies followed by Insider Monkey, Iridian Asset Management, managed by David Cohen and Harold Levy, holds the largest position in Pitney Bowes Inc. (NYSE:PBI). Iridian Asset Management has a $189.6 million position in the stock, comprising 2.5 percent of its 13F portfolio. Coming in second is Columbus Circle Investors, led by Donald Chiboucis, holding a $120.8 million position; 0.9 percent of its 13F portfolio is allocated to the stock. Other peers with similar optimism include Jean-Marie Eveillard’s First Eagle Investment Management, John Lykouretzos’s Hoplite Capital Management and Robert Pohly’s Samlyn Capital.

Consequently, specific money managers were breaking ground themselves. Hoplite Capital Management, managed by John Lykouretzos, initiated the most valuable position in Pitney Bowes Inc. (NYSE:PBI). Hoplite Capital Management had 73.1 million invested in the company at the end of the quarter. Robert Pohly’s Samlyn Capital also made a $52.7 million investment in the stock during the quarter. The other funds with new positions in the stock are Barry Rosenstein’s JANA Partners, Julian Robertson’s Tiger Management, and Wojciech Uzdelewicz’s Espalier Global Management.

What have insiders been doing with Pitney Bowes Inc. (NYSE:PBI)?

Insider trading activity, especially when it’s bullish, is most useful when the primary stock in question has experienced transactions within the past 180 days. Over the latest 180-day time frame, Pitney Bowes Inc. (NYSE:PBI) has seen one unique insiders buying, and zero insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Pitney Bowes Inc. (NYSE:PBI). These stocks are Knoll Inc (NYSE:KNL), HNI Corp (NYSE:HNI), Herman Miller, Inc. (NASDAQ:MLHR), Steelcase Inc. (NYSE:SCS), and VeriFone Systems Inc (NYSE:PAY). This group of stocks belong to the business equipment industry and their market caps are closest to PBI’s market cap.

Company Name # of Hedge Funds # of Insiders Buying # of Insiders Selling
Knoll Inc (NYSE:KNL) 9 0 3
HNI Corp (NYSE:HNI) 9 0 6
Herman Miller, Inc. (NASDAQ:MLHR) 16 0 11
Steelcase Inc. (NYSE:SCS) 11 0 4
VeriFone Systems Inc (NYSE:PAY) 19 4 1

Pitney Bowes Inc. was the most popular business equipment industry equity among the hedge funds Insider Monkey tracks at the end of Q3.


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