CalAmp Corp. (NASDAQ:CAMP) Shares Sold by UBS Group AG
UBS Group AG reduced its stake in CalAmp Corp. (NASDAQ:CAMP) by 46.9% during the first quarter, Holdings Channel reports. The institutional investor owned 8,036 shares of the Wireless communications provider’s stock after selling 7,097 shares during the period. UBS Group AG’s holdings in CalAmp Corp. were worth $135,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Mason Street Advisors LLC increased 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 in the last quarter. Stifel Financial Corp acquired a new stake in shares of CalAmp Corp. during the first quarter valued at about $171,000. Karp Capital Management Corp acquired a new stake in shares of CalAmp Corp. during the first quarter valued at about $176,000. Dubuque Bank & Trust Co. acquired a new stake in shares of CalAmp Corp. during the first quarter valued at about $183,000. Finally, AQR Capital Management LLC acquired a new stake in shares of CalAmp Corp. during the fourth quarter valued at about $185,000. 73.80% of the stock is owned by hedge funds and other institutional investors.
CalAmp Corp. (NASDAQ:CAMP) traded up 0.39% during midday trading on Friday, hitting $18.16. The stock had a trading volume of 35,544 shares. The stock has a 50-day moving average of $19.42 and a 200-day moving average of $17.75. CalAmp Corp. has a 52 week low of $12.13 and a 52 week high of $20.89. The firm’s market cap is $642.79 million.
CalAmp Corp. (NASDAQ:CAMP) last issued its quarterly earnings results on Tuesday, June 27th. The Wireless communications provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $88.10 million for the quarter, compared to analyst estimates of $86.85 million. CalAmp Corp. had a positive return on equity of 18.84% and a negative net margin of 2.05%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. Analysts forecast that CalAmp Corp. will post $1.17 EPS for the current fiscal year.
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CAMP has been the subject of several research analyst reports. B. Riley reissued a “buy” rating and issued a $28.00 price objective on shares of CalAmp Corp. in a research note on Saturday, July 1st. Craig Hallum increased their price objective on CalAmp Corp. from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, June 28th. Northland Securities reissued a “buy” rating and issued a $20.00 price objective on shares of CalAmp Corp. in a research note on Monday, June 26th. Benchmark Co. initiated coverage on CalAmp Corp. in a research note on Tuesday, April 25th. They issued a “buy” rating and a $23.00 price objective for the company. Finally, Zacks Investment Research raised CalAmp Corp. from a “sell” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Friday, April 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $20.88.
In other news, SVP Garo Sarkis Sarkissian sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $18.83, for a total value of $282,450.00. Following the sale, the senior vice president now directly owns 200,680 shares in the company, valued at $3,778,804.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Burdiek sold 10,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the chief executive officer now owns 479,093 shares in the company, valued at $9,581,860. The disclosure for this sale can be found here. Insiders own 5.30% 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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