Michael J. Burdiek Sells 9,000 Shares of CalAmp Corp. (CAMP) Stock
CalAmp Corp. (NASDAQ:CAMP) CEO Michael J. Burdiek sold 9,000 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $23.99, for a total value of $215,910.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
CalAmp Corp. (NASDAQ:CAMP) traded up 3.14% during trading on Thursday, reaching $23.99. The company had a trading volume of 319,867 shares. The firm has a market capitalization of $854.07 million, a P/E ratio of 222.13 and a beta of 1.60. CalAmp Corp. has a 52-week low of $12.13 and a 52-week high of $24.69. The company has a 50-day moving average of $19.78 and a 200-day moving average of $18.82.
CalAmp Corp. (NASDAQ:CAMP) last announced its earnings results on Thursday, September 28th. The Wireless communications provider reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. CalAmp Corp. had a return on equity of 18.18% and a net margin of 1.31%. The firm had revenue of $89.80 million for the quarter, compared to analysts’ expectations of $88.72 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Analysts expect that CalAmp Corp. will post $1.17 EPS for the current fiscal year.
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A number of large investors have recently made changes to their positions in CAMP. Columbus Circle Investors bought a new stake in CalAmp Corp. during the second quarter worth approximately $4,021,000. Dimensional Fund Advisors LP raised its holdings in CalAmp Corp. by 9.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,735,058 shares of the Wireless communications provider’s stock worth $35,274,000 after purchasing an additional 155,739 shares in the last quarter. Divisar Capital Management LLC raised its holdings in CalAmp Corp. by 24.3% during the first quarter. Divisar Capital Management LLC now owns 708,289 shares of the Wireless communications provider’s stock worth $11,892,000 after purchasing an additional 138,372 shares in the last quarter. Rice Hall James & Associates LLC raised its holdings in CalAmp Corp. by 23.7% during the second quarter. Rice Hall James & Associates LLC now owns 665,196 shares of the Wireless communications provider’s stock worth $13,523,000 after purchasing an additional 127,640 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in CalAmp Corp. by 5.3% during the first quarter. Vanguard Group Inc. now owns 1,948,640 shares of the Wireless communications provider’s stock worth $32,717,000 after purchasing an additional 98,825 shares in the last quarter. 72.88% of the stock is currently owned by hedge funds and other institutional investors.
CAMP has been the subject of a number of analyst reports. Craig Hallum increased their target price on CalAmp Corp. from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, September 29th. B. Riley reissued a “buy” rating and set a $28.00 target price on shares of CalAmp Corp. in a research note on Saturday, July 1st. BidaskClub downgraded CalAmp Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research downgraded CalAmp Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, J P Morgan Chase & Co downgraded CalAmp Corp. from a “neutral” rating to an “underweight” rating and set a $22.00 target price for the company. in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. CalAmp Corp. currently has an average rating of “Hold” and a consensus price target of $23.75.
About CalAmp Corp.
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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