Columbus Circle Investors Takes Position in CalAmp Corp. (CAMP)
Columbus Circle Investors bought a new stake in CalAmp Corp. (NASDAQ:CAMP) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 197,804 shares of the Wireless communications provider’s stock, valued at approximately $4,021,000. Columbus Circle Investors owned about 0.56% of CalAmp Corp. at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC raised its position in CalAmp Corp. by 66.9% in the first quarter. Lazard Asset Management LLC now owns 16,270 shares of the Wireless communications provider’s stock valued at $273,000 after buying an additional 6,519 shares in the last quarter. Russell Investments Group Ltd. raised its position in CalAmp Corp. by 8.9% in the first quarter. Russell Investments Group Ltd. now owns 555,156 shares of the Wireless communications provider’s stock valued at $9,321,000 after buying an additional 45,294 shares in the last quarter. Principal Financial Group Inc. raised its position in CalAmp Corp. by 1.0% in the first quarter. Principal Financial Group Inc. now owns 269,158 shares of the Wireless communications provider’s stock valued at $4,519,000 after buying an additional 2,714 shares in the last quarter. Karp Capital Management Corp acquired a new position in CalAmp Corp. during the first quarter valued at $176,000. Finally, AQR Capital Management LLC acquired a new position in CalAmp Corp. during the fourth quarter valued at $185,000. Hedge funds and other institutional investors own 72.65% of the company’s stock.
Shares of CalAmp Corp. (NASDAQ CAMP) opened at 18.26 on Thursday. The company has a 50 day moving average price of $18.98 and a 200-day moving average price of $17.97. The firm’s market cap is $646.33 million. CalAmp Corp. has a 52-week low of $12.13 and a 52-week high of $20.89.
CalAmp Corp. (NASDAQ:CAMP) last issued its quarterly earnings data on Tuesday, June 27th. The Wireless communications provider reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The company had revenue of $88.10 million for the quarter, compared to the consensus estimate of $86.85 million. CalAmp Corp. had a negative net margin of 2.05% and a positive return on equity of 18.84%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. On average, analysts expect that CalAmp Corp. will post $1.17 earnings per share for the current fiscal year.
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CAMP has been the topic of several recent analyst reports. Northland Securities reiterated a “buy” rating and set a $20.00 target price on shares of CalAmp Corp. in a report on Monday, June 26th. BidaskClub downgraded CalAmp Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. B. Riley reissued a “buy” rating and issued a $28.00 price target on shares of CalAmp Corp. in a research note on Saturday, July 1st. Finally, Craig Hallum lifted their price target on CalAmp Corp. from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.88.
In related news, CEO Michael J. Burdiek sold 10,000 shares of the 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 transaction, the chief executive officer now owns 479,093 shares in the company, valued at $9,581,860. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.30% of the stock is owned by corporate insiders.
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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