Connor Clark & Lunn Investment Management Ltd. purchased a new stake in CalAmp Corp. (NASDAQ:CAMP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,950 shares of the Wireless communications provider’s stock, valued at approximately $128,000.
Other institutional investors and hedge funds have also modified their holdings of the company. California Public Employees Retirement System raised its position in shares of CalAmp by 79.9% during the first quarter. California Public Employees Retirement System now owns 386,647 shares of the Wireless communications provider’s stock worth $4,864,000 after purchasing an additional 171,713 shares during the period. Dimensional Fund Advisors LP raised its position in shares of CalAmp by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,708,889 shares of the Wireless communications provider’s stock worth $22,233,000 after purchasing an additional 42,993 shares during the period. Stevens Capital Management LP purchased a new stake in CalAmp in the 2nd quarter valued at $146,000. Connors Investor Services Inc. raised its position in CalAmp by 6.2% in the 1st quarter. Connors Investor Services Inc. now owns 134,046 shares of the Wireless communications provider’s stock valued at $1,686,000 after buying an additional 7,824 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in CalAmp in the 2nd quarter valued at $69,000. 78.24% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the company. Goldman Sachs Group lowered CalAmp from a “neutral” rating to a “sell” rating and lowered their price target for the company from $13.00 to $11.00 in a research report on Wednesday, May 29th. Zacks Investment Research raised CalAmp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. ValuEngine upgraded CalAmp from a “hold” rating to a “buy” rating in a research note on Wednesday. BidaskClub upgraded CalAmp from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Finally, TheStreet downgraded CalAmp from a “c” rating to a “d+” rating in a research note on Thursday, June 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. CalAmp presently has a consensus rating of “Hold” and a consensus target price of $19.38.
In other news, Director Larry J. Wolfe acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were bought at an average cost of $11.33 per share, with a total value of $566,500.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.90% of the company’s stock.
CAMP traded down $0.19 during trading on Friday, reaching $11.56. 16,706 shares of the company were exchanged, compared to its average volume of 261,199. The company’s 50-day moving average is $10.25 and its two-hundred day moving average is $11.79. CalAmp Corp. has a 12-month low of $9.35 and a 12-month high of $24.37. The company has a market cap of $381.70 million, a price-to-earnings ratio of 16.21, a P/E/G ratio of 3.50 and a beta of 1.97. The company has a quick ratio of 1.40, a current ratio of 1.60 and a debt-to-equity ratio of 1.01.
CalAmp (NASDAQ:CAMP) last released its quarterly earnings results on Thursday, June 27th. The Wireless communications provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.18). The business had revenue of $89.10 million during the quarter, compared to analysts’ expectations of $86.91 million. CalAmp had a net margin of 0.33% and a return on equity of 11.85%. The business’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 EPS. Equities analysts forecast that CalAmp Corp. will post 0.33 earnings per share for the current year.
CalAmp Corp. provides in telematics systems, and software and subscription services in the United States, Latin America, Western Europe, Asia Pacific, the Middle East, Africa, and internationally. The company offers mobile resource management telematics devices for the Internet of Things market, which enable customers to optimize their operations by collecting, monitoring, and reporting business-critical information and desired intelligence from remote and mobile assets.
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