mikeurl's  Instablog

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Individual investor with an interest in trading and market timing.
  • PBI Executives Step Up To The Plate And Purchase 34,800 Shares 0 comments
    May 25, 2012 3:24 PM | about stocks: PBI

    I guess the management of Pitney Bowes thought enough was enough as their share price dipped down to levels not seen since the late 1980s. Today a flurry of form 4's were posted to the PB investor relations site.

    By far the largest buys were by Chairman, president and CEO Murray Martin who bought 20,000 shares on 5/21/12 for between 13.55 and 13.56 per share. Altogether the purchases by insiders yesterday and today total $437,806.50. This is a significant buy at a time when the stock is under extreme duress.

    I was right there with them buying more at 13.50 and then more at 13.00 and I had a buy in for 12.50 that never got filled. PBI is surely not without risk but I think the reward of a double digit dividend more than compensates for the risk/reward ratio here. It looks like management agrees.

    Edit: Since posting this another insider buy was made on 5/25/12 bringing the total up to 472,081.50

    Disclosure: I am long PBI.

    Additional disclosure: Nothing written is intended as investment advice.

    Stocks: PBI
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