Stephen Webber Acquires 2,500 Shares of CSP (NASDAQ:CSPI) Stock

CSP Inc. (NASDAQ:CSPI) Director Stephen Webber bought 2,500 shares of CSP stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $9.48 per share, with a total value of $23,700.00. Following the purchase, the director owned 12,500 shares in the company, valued at approximately $118,500. This represents a 25.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

CSP Price Performance

Shares of NASDAQ CSPI traded up $0.12 during trading on Wednesday, hitting $9.28. The stock had a trading volume of 2,078 shares, compared to its average volume of 19,929. CSP Inc. has a 12 month low of $7.55 and a 12 month high of $16.98. The company has a market capitalization of $93.41 million, a PE ratio of -927.60 and a beta of 0.80. The firm has a fifty day moving average of $8.88 and a two-hundred day moving average of $10.70.

CSP (NASDAQ:CSPI) last posted its quarterly earnings results on Thursday, May 7th. The information technology services provider reported $0.03 earnings per share for the quarter. The company had revenue of $16.01 million during the quarter. CSP had a negative net margin of 0.20% and a negative return on equity of 0.25%.

CSP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Thursday, May 21st will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.12 annualized dividend and a yield of 1.3%. CSP’s dividend payout ratio is presently -1,200.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of CSP from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Weiss Ratings upgraded shares of CSP from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On CSP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC boosted its position in CSP by 100.2% during the fourth quarter. Segall Bryant & Hamill LLC now owns 38,448 shares of the information technology services provider’s stock worth $481,000 after purchasing an additional 19,244 shares during the period. Visionary Wealth Advisors boosted its position in CSP by 2.4% during the fourth quarter. Visionary Wealth Advisors now owns 764,888 shares of the information technology services provider’s stock worth $9,561,000 after purchasing an additional 17,728 shares during the period. Wells Fargo & Company MN boosted its position in CSP by 72.6% during the fourth quarter. Wells Fargo & Company MN now owns 7,618 shares of the information technology services provider’s stock worth $95,000 after purchasing an additional 3,204 shares during the period. Geode Capital Management LLC boosted its position in CSP by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 163,385 shares of the information technology services provider’s stock worth $2,043,000 after purchasing an additional 2,739 shares during the period. Finally, Squarepoint Ops LLC bought a new position in CSP during the third quarter worth about $157,000. Institutional investors own 26.74% of the company’s stock.

About CSP

CSP Inc develops and markets IT integration solutions, security products, managed IT services, cloud services, purpose-built network adapters, and cluster computer systems for commercial and defense customers worldwide. It operates in two segments, Technology Solutions and High Performance Products. The Technology Solutions segment provides third-party computer hardware and software as a value-added reseller to various customers in web and infrastructure hosting, education, telecommunications, healthcare services, distribution, financial and professional services, and manufacturing industries.