A newly-amended 13G filing with the Securities and Exchange Commission revealed that Glenn Greenberg‘s Brave Warrior Capital has lowered its stake in Cimpress N.V. (NASDAQ:CMPR) to 2.23 million common shares, which account for 7.1% of the company’s total outstanding stock. The fund previously held 3.94 million shares, according to its 13F filing for the reporting period of March 31.
Cimpress N.V. is a company that deals in the mass customization of physical products such as photo products, promotional products, and printed marketing materials, to name a few. The company operates three different business units – its Upload and Print Business Units, its Vistaprint Business Unit, and its division that encompasses All Other Business Units. Over the past 12 months, the company’s stock is up by 39.14%. In its latest financial report, for the fourth quarter of its fiscal year 2016, Cimpress N.V. (NASDAQ:CMPR) disclosed earnings per share of $0.51, below the estimates of $0.81, and revenue of $479.2 million, above the estimates of $465.7 million. Recently, Cantor Fitzgerald reiterated its rating on Cimpress’ stock, though changing the wording to ‘Hold’ from ‘Neutral’, while Axiom Securities lowered its price target on the stock to $80.00 from $84.00 and has a ‘Sell’ rating on it.
As per Insider Monkey’s hedge fund database, there were 12 smart money managers that we track which were bullish on Cimpress N.V. (NASDAQ:CMPR) at the end of March. Among them, the biggest position was held by Brave Warrior Capital, with the second-largest position having been reported by Allan Mecham and Ben Raybould’s Arlington Value Capital, valued at $197.2 million. Some other investors with similar optimism encompassed William von Mueffling’s Cantillon Capital Management, D E Shaw, founded by David E. Shaw, and Edward Goodnow’s Goodnow Investment Group.
During the first quarter, Joel Greenblatt’s Gotham Asset Management initiated the most valuable position in the stock out of the funds that we track, worth around $9.9 million, while Paul Tudor Jones’ Tudor Investment Corp established a $2 million position. The only other fund with a new position in the stock was George Hall’s Clinton Group.
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You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Brave Warrior Advisors | 2,233,496 | 0 | 2,233,496 | 0 | 2,233,496 | 7.1% |
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Page 1 of 6 – SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, DC 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
| Cimpress N.V. |
| (Name of Issuer) |
| Common Stock |
| (Title of Class of Securities) |
| N20146101 |
| (CUSIP Number) |
| July 31, 2016 |
| (Date of Event Which Requires Filing of this Statement) |
Check the appropriate box to designate the
rule pursuant to which this Schedule is filed:
x Rule
13d-1(b)
o Rule
13d-1(c)
o Rule
13d-1(d)
*The remainder of this cover page shall be
filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for
any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required in the remainder of
this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934
(“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).
