Arizona State Retirement System Has $375,000 Stake in CalAmp Corp. (CAMP)
Arizona State Retirement System continued to hold its position in shares of CalAmp Corp. (NASDAQ:CAMP) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 18,443 shares of the Wireless communications provider’s stock at the close of the 2nd quarter. Arizona State Retirement System owned approximately 0.05% of CalAmp Corp. worth $375,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in CAMP. US Bancorp DE grew its position in CalAmp Corp. by 101.3% during the second quarter. US Bancorp DE now owns 5,284 shares of the Wireless communications provider’s stock valued at $108,000 after buying an additional 2,659 shares during the period. Mason Street Advisors LLC grew its position in shares of 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 purchasing an additional 341 shares during the period. State of Alaska Department of Revenue grew its position in shares of CalAmp Corp. by 77.1% in the second quarter. State of Alaska Department of Revenue now owns 6,941 shares of the Wireless communications provider’s stock valued at $141,000 after purchasing an additional 3,021 shares during the period. Stifel Financial Corp acquired a new stake in shares of CalAmp Corp. in the first quarter valued at about $171,000. Finally, Karp Capital Management Corp acquired a new stake in shares of CalAmp Corp. in the first quarter valued at about $176,000. Institutional investors own 72.88% of the company’s stock.
Several analysts have recently issued reports on CAMP shares. B. Riley reiterated a “buy” rating and issued a $28.00 target price on shares of CalAmp Corp. in a research report on Saturday, July 1st. BidaskClub lowered shares of CalAmp Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. J P Morgan Chase & Co began coverage on shares of CalAmp Corp. in a research report on Monday, August 28th. They issued a “neutral” rating and a $20.00 target price on the stock. Northland Securities restated a “buy” rating and set a $22.00 price target on shares of CalAmp Corp. in a research report on Tuesday, September 5th. Finally, Craig Hallum boosted their price target on shares of CalAmp Corp. from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, June 28th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $21.00.
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In other CalAmp Corp. news, CEO Michael J. Burdiek sold 10,000 shares of CalAmp Corp. stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the transaction, the chief executive officer now owns 479,093 shares of the company’s stock, valued at $9,581,860. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.30% of the company’s stock.
Shares of CalAmp Corp. (NASDAQ CAMP) opened at 18.89 on Friday. The company has a 50-day moving average of $18.71 and a 200 day moving average of $18.21. The stock’s market cap is $668.63 million. CalAmp Corp. has a 52-week low of $12.13 and a 52-week high of $20.89.
CalAmp Corp. (NASDAQ:CAMP) last released its quarterly earnings data 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 firm had revenue of $88.10 million during 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 was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 earnings per share. Equities research analysts forecast that CalAmp Corp. will post $1.17 EPS for the current fiscal year.
CalAmp Corp. 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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