Cadence Capital Management LLC cut its stake in CalAmp Corp. (NASDAQ:CAMP) by 29.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,326 shares of the Wireless communications provider’s stock after selling 20,134 shares during the quarter. Cadence Capital Management LLC owned about 0.13% of CalAmp worth $1,109,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Stevens Capital Management LP acquired a new stake in shares of CalAmp during the second quarter worth about $260,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of CalAmp by 3.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 320,997 shares of the Wireless communications provider’s stock worth $7,521,000 after purchasing an additional 10,649 shares during the period. Trexquant Investment LP lifted its holdings in shares of CalAmp by 431.5% during the second quarter. Trexquant Investment LP now owns 56,607 shares of the Wireless communications provider’s stock worth $1,326,000 after purchasing an additional 45,957 shares during the period. Convergence Investment Partners LLC acquired a new stake in shares of CalAmp during the second quarter worth about $985,000. Finally, Eagle Boston Investment Management Inc. lifted its holdings in shares of CalAmp by 4.4% during the second quarter. Eagle Boston Investment Management Inc. now owns 580,085 shares of the Wireless communications provider’s stock worth $13,591,000 after purchasing an additional 24,469 shares during the period. Institutional investors own 77.23% of the company’s stock.

In other CalAmp news, SVP Garo Sarkis Sarkissian sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 3rd. The stock was sold at an average price of $24.10, for a total value of $120,500.00. Following the completion of the transaction, the senior vice president now directly owns 197,289 shares of the company’s stock, valued at $4,754,664.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Burdiek sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $21.35, for a total value of $266,875.00. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

CAMP has been the subject of a number of research reports. ValuEngine downgraded CalAmp from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research downgraded CalAmp from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Roth Capital set a $28.00 target price on CalAmp and gave the stock a “buy” rating in a report on Sunday, May 20th. TheStreet raised CalAmp from a “c+” rating to a “b” rating in a report on Wednesday, June 27th. Finally, B. Riley reaffirmed a “buy” rating on shares of CalAmp in a report on Thursday, June 28th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. CalAmp has a consensus rating of “Buy” and a consensus price target of $26.75.

Shares of NASDAQ:CAMP opened at $23.52 on Wednesday. CalAmp Corp. has a 12-month low of $18.16 and a 12-month high of $25.45. The company has a market capitalization of $814.65 million, a price-to-earnings ratio of 25.57, a P/E/G ratio of 1.98 and a beta of 1.75. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.91 and a quick ratio of 2.59.

CalAmp (NASDAQ:CAMP) last announced its quarterly earnings results on Wednesday, June 27th. The Wireless communications provider reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. CalAmp had a return on equity of 17.26% and a net margin of 7.45%. The company had revenue of $94.90 million during the quarter, compared to the consensus estimate of $93.05 million. During the same period in the previous year, the company posted $0.29 earnings per share. CalAmp’s revenue for the quarter was up 7.7% on a year-over-year basis. sell-side analysts anticipate that CalAmp Corp. will post 0.97 EPS for the current year.

CalAmp Profile

CalAmp Corp. provides in telematics systems, and software and subscription services worldwide. The company provides mobile resource management telematics devices for the Internet of Things market, which enable customers to optimize their operations by collecting, monitoring, and reporting business-critical information and desired intelligence from remote and mobile assets.

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Institutional Ownership by Quarter for CalAmp (NASDAQ:CAMP)

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