Michael J. Burdiek Sells 9,000 Shares of CalAmp Corp. (CAMP) Stock
CalAmp Corp. (NASDAQ:CAMP) CEO Michael J. Burdiek sold 9,000 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $23.99, for a total transaction of $215,910.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of CalAmp Corp. (NASDAQ:CAMP) opened at 23.70 on Friday. The stock’s 50 day moving average is $19.94 and its 200-day moving average is $18.87. CalAmp Corp. has a 1-year low of $12.13 and a 1-year high of $24.69. The stock has a market cap of $843.74 million, a PE ratio of 219.44 and a beta of 1.60.
CalAmp Corp. (NASDAQ:CAMP) last announced its quarterly earnings results on Thursday, September 28th. The Wireless communications provider reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. The business had revenue of $89.80 million during the quarter, compared to the consensus estimate of $88.72 million. CalAmp Corp. had a net margin of 1.31% and a return on equity of 18.18%. The business’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 EPS. On average, analysts predict that CalAmp Corp. will post $1.17 EPS for the current fiscal year.
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Several research analysts recently issued reports on the stock. TheStreet raised shares of CalAmp Corp. from a “c” rating to a “b” rating in a report on Friday, September 29th. Zacks Investment Research cut shares of CalAmp Corp. from a “buy” rating to a “hold” rating in a report on Wednesday. B. Riley reaffirmed a “buy” rating and issued a $28.00 price objective on shares of CalAmp Corp. in a report on Wednesday. J P Morgan Chase & Co cut shares of CalAmp Corp. from a “neutral” rating to an “underweight” rating and set a $22.00 price objective for the company. in a report on Wednesday. Finally, Northland Securities reaffirmed a “buy” rating and issued a $25.00 price objective on shares of CalAmp Corp. in a report on Sunday, October 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $23.75.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of CalAmp Corp. in the 2nd quarter valued at about $1,276,000. Nomura Holdings Inc. increased its holdings in shares of CalAmp Corp. by 11.8% in the 2nd quarter. Nomura Holdings Inc. now owns 326,846 shares of the Wireless communications provider’s stock valued at $6,611,000 after purchasing an additional 34,422 shares in the last quarter. State Street Corp increased its holdings in shares of CalAmp Corp. by 4.4% in the 2nd quarter. State Street Corp now owns 891,016 shares of the Wireless communications provider’s stock valued at $18,114,000 after purchasing an additional 37,172 shares in the last quarter. Precept Management LLC purchased a new position in shares of CalAmp Corp. in the 2nd quarter valued at about $1,260,000. Finally, Voya Investment Management LLC increased its holdings in shares of CalAmp Corp. by 2.8% in the 2nd quarter. Voya Investment Management LLC now owns 878,417 shares of the Wireless communications provider’s stock valued at $17,858,000 after purchasing an additional 23,819 shares in the last quarter. Institutional investors and hedge funds own 72.88% of the company’s stock.
About CalAmp Corp.
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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