Stephen Webber Purchases 2,500 Shares of CSP (NASDAQ:CSPI) Stock

CSP Inc. (NASDAQ:CSPI) Director Stephen Webber bought 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $9.48 per share, for a total transaction of $23,700.00. Following the transaction, the director directly owned 12,500 shares in the company, valued at $118,500. This trade represents a 25.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

CSP Price Performance

Shares of CSP stock traded up $0.12 during trading on Wednesday, reaching $9.28. 2,078 shares of the company traded hands, compared to its average volume of 19,929. CSP Inc. has a 1-year low of $7.55 and a 1-year high of $16.98. The company has a 50 day moving average price of $8.88 and a 200-day moving average price of $10.70. The firm has a market capitalization of $93.41 million, a PE ratio of -927.60 and a beta of 0.80.

CSP (NASDAQ:CSPI) last released its earnings results on Thursday, May 7th. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter. CSP had a negative net margin of 0.20% and a negative return on equity of 0.25%. The company had revenue of $16.01 million for the quarter.

CSP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.03 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.12 annualized dividend and a yield of 1.3%. CSP’s dividend payout ratio is presently -1,200.00%.

Institutional Trading of CSP

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of CSP by 113.0% in the 2nd quarter. Geode Capital Management LLC now owns 158,355 shares of the information technology services provider’s stock worth $2,049,000 after acquiring an additional 83,999 shares in the last quarter. Visionary Wealth Advisors grew its stake in shares of CSP by 5.7% in the 2nd quarter. Visionary Wealth Advisors now owns 740,187 shares of the information technology services provider’s stock worth $9,578,000 after acquiring an additional 39,738 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of CSP by 100.2% in the 4th quarter. Segall Bryant & Hamill LLC now owns 38,448 shares of the information technology services provider’s stock worth $481,000 after acquiring an additional 19,244 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of CSP by 66.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 29,800 shares of the information technology services provider’s stock worth $457,000 after acquiring an additional 11,850 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of CSP by 14.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 26,079 shares of the information technology services provider’s stock worth $337,000 after acquiring an additional 3,279 shares in the last quarter. Institutional investors own 26.74% of the company’s stock.

Analyst Ratings Changes

CSPI has been the topic of several research reports. Weiss Ratings upgraded shares of CSP from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. Wall Street Zen downgraded shares of CSP from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, CSP currently has an average rating of “Sell”.

About CSP

CSP Inc develops and markets IT integration solutions, security products, managed IT services, cloud services, purpose-built network adapters, and cluster computer systems for commercial and defense customers worldwide. It operates in two segments, Technology Solutions and High Performance Products. The Technology Solutions segment provides third-party computer hardware and software as a value-added reseller to various customers in web and infrastructure hosting, education, telecommunications, healthcare services, distribution, financial and professional services, and manufacturing industries.