Insider Selling: CalAmp Corp. (CAMP) SVP Sells 15,000 Shares of Stock
CalAmp Corp. (NASDAQ:CAMP) SVP Garo Sarkis Sarkissian sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $18.83, for a total transaction of $282,450.00. Following the completion of the transaction, the senior vice president now owns 200,680 shares in the company, valued at $3,778,804.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of CalAmp Corp. (NASDAQ:CAMP) traded down 2.79% on Wednesday, reaching $18.50. 648,426 shares of the company’s stock traded hands. The firm’s market capitalization is $648.72 million. The firm’s 50 day moving average is $17.44 and its 200 day moving average is $15.82. CalAmp Corp. has a 52 week low of $12.13 and a 52 week high of $19.10.
CalAmp Corp. (NASDAQ:CAMP) last issued its quarterly earnings data on Tuesday, April 18th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $86.10 million for the quarter, compared to analyst estimates of $86.01 million. CalAmp Corp. had a net margin of 0.55% and a return on equity of 19.30%. CalAmp Corp.’s revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. Analysts expect that CalAmp Corp. will post $1.20 earnings per share for the current fiscal year.
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A number of research analysts have recently commented on CAMP shares. Zacks Investment Research cut shares of CalAmp Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, January 17th. Canaccord Genuity restated a “buy” rating and issued a $23.00 price target on shares of CalAmp Corp. in a report on Monday, March 6th. Sidoti cut shares of CalAmp Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, March 22nd. Benchmark Co. started coverage on shares of CalAmp Corp. in a report on Tuesday, April 25th. They issued a “buy” rating and a $23.00 price target on the stock. Finally, B. Riley restated a “buy” rating and issued a $22.00 price target on shares of CalAmp Corp. in a report on Saturday, April 22nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $19.71.
A number of hedge funds have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan raised its stake in shares of CalAmp Corp. by 1.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 8,130 shares of the Wireless communications provider’s stock valued at $113,000 after buying an additional 150 shares during the period. Mason Street Advisors LLC raised its stake in shares of CalAmp Corp. by 4.3% in the first quarter. Mason Street Advisors LLC now owns 8,280 shares of the Wireless communications provider’s stock valued at $139,000 after buying an additional 341 shares during the period. Lazard Asset Management LLC raised its stake in shares of CalAmp Corp. by 66.5% in the third quarter. Lazard Asset Management LLC now owns 9,751 shares of the Wireless communications provider’s stock valued at $136,000 after buying an additional 3,893 shares during the period. Stifel Financial Corp bought a new stake in shares of CalAmp Corp. during the first quarter valued at about $171,000. Finally, Karp Capital Management Corp bought a new stake in shares of CalAmp Corp. during the first quarter valued at about $176,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.
CalAmp Corp. Company Profile
CalAmp Corp. (CalAmp) is a provider of wireless communications solutions for a range of applications to customers globally. The Company operates through two business segments: Wireless DataCom and Satellite. The Company’s Wireless DataCom segment offers solutions for mobile resource management (MRM) applications, the machine-to-machine (M2M) communications space and other markets that require connectivity anytime and anywhere.
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