Connor Clark & Lunn Investment Management Ltd. Buys 29,484 Shares of Cimpress plc (NASDAQ:CMPR)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Cimpress plc (NASDAQ:CMPR) by 42.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,322 shares of the business services provider’s stock after buying an additional 29,484 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cimpress were worth $8,055,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC boosted its position in shares of Cimpress by 166.3% in the second quarter. CWM LLC now owns 831 shares of the business services provider’s stock valued at $73,000 after acquiring an additional 519 shares during the period. Meeder Asset Management Inc. purchased a new stake in Cimpress in the 3rd quarter worth approximately $130,000. Legacy Capital Group California Inc. bought a new position in Cimpress in the 2nd quarter valued at $202,000. Optimist Retirement Group LLC purchased a new position in shares of Cimpress during the 2nd quarter valued at $204,000. Finally, Victory Capital Management Inc. bought a new position in shares of Cimpress in the second quarter worth $250,000. 77.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Sean Edward Quinn sold 24,093 shares of Cimpress stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $98.48, for a total value of $2,372,678.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert S. Keane sold 396 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $97.55, for a total transaction of $38,629.80. Following the sale, the chief executive officer now owns 986,785 shares of the company’s stock, valued at approximately $96,260,876.75. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,799 shares of company stock worth $6,901,076 in the last quarter. 17.80% of the stock is owned by insiders.

Cimpress Stock Performance

NASDAQ CMPR opened at $81.33 on Friday. Cimpress plc has a 52-week low of $58.05 and a 52-week high of $104.92. The company has a fifty day moving average of $79.63 and a 200-day moving average of $84.94. The company has a market capitalization of $2.05 billion, a P/E ratio of 13.97, a P/E/G ratio of 0.66 and a beta of 2.05.

Cimpress (NASDAQ:CMPR) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.80). The firm had revenue of $804.97 million for the quarter, compared to the consensus estimate of $800.51 million. Cimpress had a negative return on equity of 27.15% and a net margin of 4.69%. During the same period last year, the firm earned $0.17 EPS. As a group, analysts forecast that Cimpress plc will post 4.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. StockNews.com lowered Cimpress from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Truist Financial dropped their price target on Cimpress from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Barrington Research upped their price objective on shares of Cimpress from $113.00 to $119.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 27th.

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.