Credit Suisse AG Has $989,000 Position in CalAmp Corp. (CAMP)
Credit Suisse AG lowered its stake in shares of CalAmp Corp. (NASDAQ:CAMP) by 15.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,923 shares of the Wireless communications provider’s stock after selling 10,639 shares during the period. Credit Suisse AG owned 0.17% of CalAmp Corp. worth $989,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of CAMP. Thrivent Financial For Lutherans increased its position in shares of CalAmp Corp. by 0.8% in the first quarter. Thrivent Financial For Lutherans now owns 19,970 shares of the Wireless communications provider’s stock valued at $335,000 after buying an additional 160 shares during the last quarter. Mason Street Advisors LLC increased its stake in CalAmp Corp. by 4.3% in the first quarter. Mason Street Advisors LLC now owns 8,280 shares of the Wireless communications provider’s stock valued at $139,000 after buying an additional 341 shares during the last quarter. Comerica Bank increased its stake in CalAmp Corp. by 2.5% in the first quarter. Comerica Bank now owns 39,553 shares of the Wireless communications provider’s stock valued at $711,000 after buying an additional 946 shares during the last quarter. OppenheimerFunds Inc. increased its stake in CalAmp Corp. by 17.1% in the first quarter. OppenheimerFunds Inc. now owns 15,409 shares of the Wireless communications provider’s stock valued at $258,000 after buying an additional 2,250 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. increased its stake in CalAmp Corp. by 12.0% in the first quarter. Bbva Compass Bancshares Inc. now owns 22,937 shares of the Wireless communications provider’s stock valued at $385,000 after buying an additional 2,465 shares during the last quarter. Hedge funds and other institutional investors own 72.65% of the company’s stock.
Shares of CalAmp Corp. (NASDAQ:CAMP) traded up 0.73% on Tuesday, reaching $17.97. The company’s stock had a trading volume of 29,970 shares. The firm has a 50 day moving average price of $19.05 and a 200-day moving average price of $17.94. CalAmp Corp. has a 12-month low of $12.13 and a 12-month high of $20.89. The stock’s market cap is $636.07 million.
CalAmp Corp. (NASDAQ:CAMP) last issued its quarterly earnings results on Tuesday, June 27th. The Wireless communications provider reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. CalAmp Corp. had a positive return on equity of 18.84% and a negative net margin of 2.05%. The company had revenue of $88.10 million for the quarter, compared to analyst estimates of $86.85 million. During the same quarter in the prior year, the company posted $0.30 EPS. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities research analysts expect that CalAmp Corp. will post $1.17 EPS for the current year.
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Several equities research analysts recently commented on the company. B. Riley reiterated a “buy” rating and issued a $28.00 price objective on shares of CalAmp Corp. in a report on Saturday, July 1st. Craig Hallum lifted their price objective on CalAmp Corp. from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, June 28th. BidaskClub downgraded CalAmp Corp. from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Benchmark Co. assumed coverage on CalAmp Corp. in a report on Tuesday, April 25th. They issued a “buy” rating and a $23.00 price objective for the company. Finally, Northland Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of CalAmp Corp. in a report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.88.
In other CalAmp Corp. news, CEO Michael J. Burdiek sold 10,000 shares of the stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the chief executive officer now owns 479,093 shares of the company’s stock, valued at approximately $9,581,860. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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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