Pitney Bowes stock has been heavily shorted by hedge funds and other investors this year. Now its chief executive is making his bullish case for the company directly to the buy side—and it seems to be working.
Marc Lautenbach, CEO of the $5 billion customer communications technologies company, was the featured speaker at a so-called ideas dinner Monday night in a private room at the the Union League Club in Manhattan hosted by independent investment research firm OTR Global.
Investors there, according to a person who attended, included Rajiv Lapasia, a mutual fund director at BlackRock; Reena Kanagasingam, an analyst at Citadel Investment Group; Andy McElaney, a research analyst at Highfields Capital; Allen Trew, a managing director at JANA Partners; Adam Laker, an analyst at JAT Capital Management; Kevin Kamer, an analyst at Och-Ziff Capital Management; Brad Langston, an analyst at Soros Fund Management; and Ulrike Hoffmann-Burchardi, a global equities portfolio manager at Tudor Investment Corp.
Representatives for all the investment firms did not immediately respond to requests for comment.