Vanguard Group Inc. Has $32.72 Million Position in CalAmp Corp. (CAMP)
Vanguard Group Inc. boosted its stake in shares of CalAmp Corp. (NASDAQ:CAMP) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,948,640 shares of the Wireless communications provider’s stock after buying an additional 98,825 shares during the period. Vanguard Group Inc. owned 0.06% of CalAmp Corp. worth $32,717,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CAMP. AQR Capital Management LLC bought a new stake in CalAmp Corp. during the fourth quarter valued at $185,000. Teachers Advisors LLC boosted its position in shares of CalAmp Corp. by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 75,253 shares of the Wireless communications provider’s stock worth $1,091,000 after buying an additional 3,535 shares during the last quarter. First National Bank of Omaha boosted its position in shares of CalAmp Corp. by 30.9% in the first quarter. First National Bank of Omaha now owns 62,443 shares of the Wireless communications provider’s stock worth $1,048,000 after buying an additional 14,754 shares during the last quarter. Rice Hall James & Associates LLC boosted its position in shares of CalAmp Corp. by 32.3% in the first quarter. Rice Hall James & Associates LLC now owns 537,556 shares of the Wireless communications provider’s stock worth $9,026,000 after buying an additional 131,252 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its position in shares of CalAmp Corp. by 13.7% in the first quarter. Independent Portfolio Consultants Inc. now owns 45,690 shares of the Wireless communications provider’s stock worth $767,000 after buying an additional 5,520 shares during the last quarter. 72.65% of the stock is owned by hedge funds and other institutional investors.
Shares of CalAmp Corp. (CAMP) traded up 0.66% on Wednesday, reaching $18.35. 6,361 shares of the company’s stock traded hands. CalAmp Corp. has a 12-month low of $12.13 and a 12-month high of $20.89. The stock has a 50-day moving average price of $19.28 and a 200-day moving average price of $17.86. The company’s market cap is $649.52 million.
CalAmp Corp. (NASDAQ:CAMP) last released its earnings results on Tuesday, June 27th. The Wireless communications provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $88.10 million during the quarter, compared to analysts’ expectations of $86.85 million. CalAmp Corp. had a negative net margin of 2.05% and a positive return on equity of 18.84%. CalAmp Corp.’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS. Equities research analysts anticipate that CalAmp Corp. will post $1.17 EPS for the current fiscal year.
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A number of equities analysts recently commented on CAMP shares. Zacks Investment Research upgraded shares of CalAmp Corp. from a “sell” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Friday, April 21st. Benchmark Co. assumed coverage on shares of CalAmp Corp. in a research note on Tuesday, April 25th. They set a “buy” rating and a $23.00 target price on the stock. Craig Hallum boosted their price objective on shares of 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 set a $20.00 price objective on shares of CalAmp Corp. in a research note on Monday, June 26th. Finally, B. Riley reissued a “buy” rating and set a $22.00 price objective on shares of CalAmp Corp. in a research note on Monday, June 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $20.88.
In other CalAmp Corp. news, CEO Michael J. Burdiek sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the transaction, the chief executive officer now directly owns 479,093 shares of the company’s stock, valued at approximately $9,581,860. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company 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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