CDI Corp. (CDI) Trading 6.3% Higher After Insider Buying Activity
Shares of CDI Corp. (NYSE:CDI) traded up 6.3% on Thursday following insider buying activity. The stock traded as high as $5.75 and last traded at $5.75, with a volume of 71,132 shares trading hands. The stock had previously closed at $5.41.
Specifically, Director Albert E. Smith acquired 8,000 shares of the company’s stock in a transaction on Tuesday, September 27th. The shares were bought at an average cost of $5.40 per share, with a total value of $43,200.00. Following the purchase, the director now owns 69,272 shares of the company’s stock, valued at approximately $374,068.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.80% of the stock is currently owned by company insiders.
The stock’s 50-day moving average is $5.55 and its 200 day moving average is $6.13. The stock’s market cap is $105.45 million.
CDI Corp. (NYSE:CDI) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.08. CDI Corp. had a negative net margin of 5.27% and a negative return on equity of 4.97%. The firm earned $226.70 million during the quarter, compared to analyst estimates of $228.61 million. During the same period last year, the business earned ($0.01) EPS. The firm’s revenue was down 8.1% compared to the same quarter last year. Equities analysts anticipate that CDI Corp. will post ($1.30) earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System increased its stake in shares of CDI Corp. by 3.3% in the second quarter. California Public Employees Retirement System now owns 112,707 shares of the company’s stock valued at $688,000 after buying an additional 3,600 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of CDI Corp. during the second quarter valued at about $456,000. Finally, Paloma Partners Management Co purchased a new stake in shares of CDI Corp. during the second quarter valued at about $314,000. 40.85% of the stock is owned by institutional investors.
About CDI Corp.
CDI Corp. provides engineering, information technology and staffing solutions. The Company operates in three segments: Global Engineering and Technology Solutions (GETS), Professional Staffing Services (PSS) and Management Recruiters International (MRI). It provides staffing services through its MRINetwork of franchisees.
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