CSP (NASDAQ:CSPI) Director Ismail Azeri Acquires 2,282 Shares

CSP Inc. (NASDAQ:CSPI) Director Ismail Azeri bought 2,282 shares of CSP stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $9.38 per share, for a total transaction of $21,405.16. Following the completion of the transaction, the director directly owned 108,272 shares of the company’s stock, valued at $1,015,591.36. This trade represents a 2.15% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ismail Azeri also recently made the following trade(s):

• On Wednesday, May 13th, Ismail Azeri purchased 218 shares of CSP stock. The stock was acquired at an average cost of $9.41 per share, for a total transaction of $2,051.38.

CSP Trading Up 4.0%

CSPI traded up $0.37 during midday trading on Thursday, hitting $9.65. The company’s stock had a trading volume of 14,565 shares, compared to its average volume of 20,049. CSP Inc. has a 52-week low of $7.55 and a 52-week high of $16.59. The firm has a 50-day moving average price of $8.89 and a two-hundred day moving average price of $10.67. The firm has a market cap of $97.19 million, a P/E ratio of -965.00 and a beta of 0.80.

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

CSP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.12 dividend on an annualized basis and a yield of 1.2%. CSP’s dividend payout ratio (DPR) is currently -1,200.00%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of CSP

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in CSP by 3,943.3% in the second quarter. Bank of America Corp DE now owns 2,426 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 2,366 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of CSP in the second quarter worth about $49,000. Raymond James Financial Inc. purchased a new stake in shares of CSP in the second quarter worth about $91,000. Wells Fargo & Company MN grew its stake in shares of CSP by 72.6% in the fourth quarter. Wells Fargo & Company MN now owns 7,618 shares of the information technology services provider’s stock valued at $95,000 after buying an additional 3,204 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of CSP in the second quarter valued at about $122,000. 26.74% of the stock is owned by hedge funds and other institutional investors.

CSP Company Profile

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.