Pitney Bowes Inc.: Not Sexy But Good
By Gene Andrews:Pitney Bowes Inc. (PBI) is not exactly a sexy stock but it is primed for an upside move that will have investors appreciating one of the "plain Janes" of the marketplace. Pitney Bowes Inc. has beta of 1.21, albeit of late it has been to the downside. That said; the imminent move to the upside should prove to be opportunistic. The blocks, which traded on June 7, were the largest since 2009. The aggregate volume (over the last few weeks) has been at its highest levels since before 2003. This indicates (at least to me) that Pitney Bowes Inc. is set for a fairly substantial move to the upside. In addition, these blocks are in all probability long term capital gains positions being established by the Designated Market Maker, as well as other exchange insiders. Ultimately, they will not want to distribute these shares anywhere but at the top ofComplete Story »
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