Csquare (NYSE:CSQR) Stock: Insider Philip Kelley Buys 10,000 Shares

Csquare, Inc. (NYSE:CSQR) Director Philip Kelley acquired 10,000 shares of Csquare stock in a transaction that occurred on Wednesday, November 11th. The shares were purchased at an average cost of $17.24 per share, with a total value of $172,400.00. Following the purchase, the director owned 20,000 shares of the company’s stock, valued at $344,800. This represents a 100.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Csquare Stock Performance

Csquare stock traded down $0.35 during midday trading on Friday, reaching $16.87. 1,893,241 shares of the stock were exchanged, compared to its average volume of 2,482,232. Csquare, Inc. has a 52 week low of $12.30 and a 52 week high of $23.50. The company has a current ratio of 1.36, a quick ratio of 1.67 and a debt-to-equity ratio of 6.12. The firm has a fifty day simple moving average of $16.56.

Csquare (NYSE:CSQR) last announced its quarterly earnings results on Monday, November 9th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.09). The business had revenue of $302.33 million for the quarter. The business’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.29) earnings per share. As a group, analysts expect that Csquare, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CSQR shares. Wells Fargo & Company initiated coverage on Csquare in a research note on Monday, August 10th. They set an “overweight” rating and a $25.00 price objective for the company. Bank of America restated a “buy” rating and issued a $37.00 target price on shares of Csquare in a research note on Tuesday. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Csquare in a report on Tuesday. Wall Street Zen cut Csquare from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Finally, BMO Capital Markets assumed coverage on Csquare in a research report on Monday, August 10th. They set an “outperform” rating and a $26.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.78.

Hedge Funds Weigh In On Csquare

A hedge fund recently bought a new position in Csquare stock. Voya Investment Management LLC purchased a new position in Csquare, Inc. (NYSE:CSQR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,394 shares of the company’s stock, valued at approximately $164,000.

Csquare News Summary

Investors following CSQR have been watching these news items:

• Positive Sentiment: Three insiders bought shares on November 11: CEO Spencer Edward Mullee purchased 13,573 shares, Director Philip Kelley bought 10,000, and CFO Steven R. E. Cook acquired 2,028. The purchases may signal confidence in the company. CEO filing Director filing CFO filing
• Positive Sentiment: Analyst sentiment is supportive: TD Cowen raised its price target to $30 and reiterated a Buy rating. Reports also said shares climbed after an analyst upgrade. TD Cowen outlook Report on analyst upgrade
• Negative Sentiment: Csquare’s latest quarterly loss was wider than expected: its $0.58-per-share loss missed the $0.49 consensus estimate. Revenue rose 25.6% year over year to $302.33 million, but the earnings miss could weigh on sentiment.

Csquare Company Profile

Csquare Inc. is a provider of carrier-neutral data center solutions. The company’s digital infrastructure platform offers carrier-neutral colocation and interconnection services which support the applications. Csquare Inc. is based in COPPELL, Texas.