Garo Sarkis Sarkissian Sells 2,992 Shares of CalAmp Corp. (CAMP) Stock
CalAmp Corp. (NASDAQ:CAMP) SVP Garo Sarkis Sarkissian sold 2,992 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $15.10, for a total value of $45,179.20. Following the completion of the sale, the senior vice president now directly owns 195,680 shares of the company’s stock, valued at approximately $2,954,768. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of CalAmp Corp. (NASDAQ:CAMP) traded up 1.18% during mid-day trading on Wednesday, reaching $15.43. The company’s stock had a trading volume of 226,050 shares. The stock has a market capitalization of $560.60 million, a P/E ratio of 79.95 and a beta of 1.31. The company has a 50 day moving average price of $13.76 and a 200 day moving average price of $14.52. CalAmp Corp. has a 12 month low of $12.13 and a 12 month high of $21.35.
CalAmp Corp. (NASDAQ:CAMP) last posted its earnings results on Thursday, September 29th. The company reported $0.27 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. CalAmp Corp. had a return on equity of 21.17% and a net margin of 2.21%. The company had revenue of $90.50 million for the quarter. During the same quarter last year, the business earned $0.27 earnings per share. CalAmp Corp.’s quarterly revenue was up 29.6% on a year-over-year basis. On average, equities research analysts anticipate that CalAmp Corp. will post $1.09 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. B. Riley Financial Inc. bought a new position in CalAmp Corp. during the third quarter valued at $211,000. Tributary Capital Management LLC raised its position in CalAmp Corp. by 7.3% in the third quarter. Tributary Capital Management LLC now owns 358,872 shares of the company’s stock valued at $5,006,000 after buying an additional 24,482 shares during the period. Baker Avenue Asset Management LP raised its position in CalAmp Corp. by 65.4% in the third quarter. Baker Avenue Asset Management LP now owns 34,925 shares of the company’s stock valued at $487,000 after buying an additional 13,805 shares during the period. The Manufacturers Life Insurance Company bought a new position in CalAmp Corp. during the third quarter valued at $344,000. Finally, Lazard Asset Management LLC raised its position in CalAmp Corp. by 66.5% in the third quarter. Lazard Asset Management LLC now owns 9,751 shares of the company’s stock valued at $136,000 after buying an additional 3,893 shares during the period. Institutional investors own 70.09% of the company’s stock.
CAMP has been the subject of several analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $25.00 target price on shares of CalAmp Corp. in a research report on Thursday, August 11th. B. Riley decreased their target price on CalAmp Corp. from $29.00 to $22.00 and set a “buy” rating for the company in a research report on Saturday, October 1st. First Analysis decreased their target price on CalAmp Corp. from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, August 15th. Macquarie initiated coverage on CalAmp Corp. in a research report on Monday, October 31st. They issued a “neutral” rating and a $14.00 target price for the company. Finally, Zacks Investment Research downgraded CalAmp Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. CalAmp Corp. currently has a consensus rating of “Hold” and a consensus target price of $20.80.
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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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