CalAmp (NASDAQ:CAMP) Issues Earnings Results

CalAmp (NASDAQ:CAMPGet Rating) posted its quarterly earnings data on Thursday. The Wireless communications provider reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02, Briefing.com reports. CalAmp had a negative return on equity of 20.41% and a negative net margin of 13.60%. The company had revenue of $72.80 million for the quarter, compared to the consensus estimate of $69.27 million. During the same quarter in the previous year, the business earned $0.01 EPS. The company’s quarterly revenue was down 7.8% compared to the same quarter last year.

CalAmp Price Performance

NASDAQ CAMP opened at $4.87 on Friday. CalAmp has a twelve month low of $3.90 and a twelve month high of $10.68. The company has a debt-to-equity ratio of 7.94, a quick ratio of 1.74 and a current ratio of 1.97. The stock has a market capitalization of $176.10 million, a PE ratio of -4.51 and a beta of 2.24. The stock has a 50-day simple moving average of $5.19 and a 200 day simple moving average of $5.79.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAMP. StockNews.com lowered CalAmp from a “hold” rating to a “sell” rating in a research report on Monday, June 27th. Craig Hallum raised CalAmp from a “hold” rating to a “buy” rating and upped their price target for the company from $8.00 to $10.00 in a research report on Tuesday, August 16th.

Insider Buying and Selling

In other news, Director B. Riley Asset Management, Llc purchased 105,000 shares of the business’s stock in a transaction on Tuesday, June 28th. The stock was purchased at an average price of $4.69 per share, with a total value of $492,450.00. Following the acquisition, the director now directly owns 1,480,465 shares in the company, valued at approximately $6,943,380.85. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other CalAmp news, CEO Jeffery R. Gardner purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were acquired at an average cost of $4.83 per share, for a total transaction of $96,600.00. Following the transaction, the chief executive officer now directly owns 313,683 shares in the company, valued at $1,515,088.89. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director B. Riley Asset Management, Llc purchased 105,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were acquired at an average price of $4.69 per share, for a total transaction of $492,450.00. Following the completion of the transaction, the director now owns 1,480,465 shares in the company, valued at $6,943,380.85. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 467,487 shares of company stock valued at $2,002,521. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its position in CalAmp by 21.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 35,425 shares of the Wireless communications provider’s stock valued at $148,000 after buying an additional 6,196 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in CalAmp in the 2nd quarter valued at $406,000. Millennium Management LLC bought a new position in CalAmp in the 2nd quarter valued at $1,295,000. Sei Investments Co. boosted its position in shares of CalAmp by 7.6% in the 2nd quarter. Sei Investments Co. now owns 488,706 shares of the Wireless communications provider’s stock worth $2,038,000 after purchasing an additional 34,386 shares during the last quarter. Finally, Worth Venture Partners LLC bought a new position in shares of CalAmp in the 1st quarter worth $3,221,000. 88.58% of the stock is currently owned by institutional investors.

About CalAmp

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CalAmp Corp., a connected intelligence company, provides leverages a data-driven solutions ecosystem to people and organizations in the United States, Europe, the Middle East, Africa, Latin America, the Asia-Pacific, and internationally. The company operates in two segments, Software & Subscription Services and Telematics Products.

See Also

Earnings History for CalAmp (NASDAQ:CAMP)

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