(GuruFocus, August 2, 2009 ) Investment Guru Steven Mandel has sold almost 90% of his position in online supplier of graphic design and printing company VistaPrint Ltd. (VPRT, Financial). GuruFocus data shows that Mandel sold 89.8% of his stake in VPRT at the price of $40.7 per share on July 21, 2009. He only held 26,339 shares after the sale.
VistaPrint is the leading online supplier of graphic design services and customized printed products to small businesses and consumers. VistaPrint Ltd. has a market cap of $1.74 billion; its shares were traded at around $41.25 with a P/E ratio of 35.9 and P/S ratio of 4.3.
This is not the first time Steve Mandel unload the company’s stock. He bought into the company in 4Q06 with a position of 1.7 million shares and increased his position to 1.9 million shares in 2Q07. He sold all but 258,000 shares in 1Q09 and the recent sale is just a continuation of that investment decision.
Company insiders have been dumping shares as well. CEO Pres. & Chair. of the BODs Robert S Keane sold 44,500 shares of VPRT stock on 07/16/2009 at the average price of $45. He has bee selling shares since May, 2009 in a series of transactions. Executive VP and CFO Michael Giannetto sold 2,000 shares of VPRT stock on 07/21/2009 at the average price of $41.83 and he has also been selling shares since May in multiple transactions. To see other company insiders selling company’s stock, click here.
On July 30, 2009, company reported its fiscal fourth quarter results for the quarter ended on Jun 30, 2009. Quarterly revenue grew to $135.2 million, a 22 percent increase over revenue of $110.4 million reported in the same quarter a year ago. For the full fiscal year, revenue grew to $515.8 million, a 29 percent increase over revenue of $400.7 million in fiscal year 2008. Net income for the fourth quarter was $14.7 million, or 10.9 percent of revenue, representing a 42 percent increase compared to $10.3 million, or 9.4 percent of revenue in the same quarter a year ago. For the full fiscal year, net income was $55.7 million, or 10.8 percent of revenue, a 40 percent increase over GAAP net income of $39.8 million, or 9.9 percent of revenue, in the prior fiscal year.
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VistaPrint is the leading online supplier of graphic design services and customized printed products to small businesses and consumers. VistaPrint Ltd. has a market cap of $1.74 billion; its shares were traded at around $41.25 with a P/E ratio of 35.9 and P/S ratio of 4.3.
This is not the first time Steve Mandel unload the company’s stock. He bought into the company in 4Q06 with a position of 1.7 million shares and increased his position to 1.9 million shares in 2Q07. He sold all but 258,000 shares in 1Q09 and the recent sale is just a continuation of that investment decision.
Company insiders have been dumping shares as well. CEO Pres. & Chair. of the BODs Robert S Keane sold 44,500 shares of VPRT stock on 07/16/2009 at the average price of $45. He has bee selling shares since May, 2009 in a series of transactions. Executive VP and CFO Michael Giannetto sold 2,000 shares of VPRT stock on 07/21/2009 at the average price of $41.83 and he has also been selling shares since May in multiple transactions. To see other company insiders selling company’s stock, click here.
On July 30, 2009, company reported its fiscal fourth quarter results for the quarter ended on Jun 30, 2009. Quarterly revenue grew to $135.2 million, a 22 percent increase over revenue of $110.4 million reported in the same quarter a year ago. For the full fiscal year, revenue grew to $515.8 million, a 29 percent increase over revenue of $400.7 million in fiscal year 2008. Net income for the fourth quarter was $14.7 million, or 10.9 percent of revenue, representing a 42 percent increase compared to $10.3 million, or 9.4 percent of revenue in the same quarter a year ago. For the full fiscal year, net income was $55.7 million, or 10.8 percent of revenue, a 40 percent increase over GAAP net income of $39.8 million, or 9.9 percent of revenue, in the prior fiscal year.
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