Capital Fund Management S.A. bought a new position in shares of CalAmp Corp. (NASDAQ:CAMP) during the second quarter, Holdings Channel reports. The firm bought 45,500 shares of the company’s stock, valued at approximately $674,000.
Other hedge funds have also added to or reduced their stakes in the company. Quotient Investors LLC acquired a new stake in CalAmp Corp. during the second quarter worth about $333,000. Fox Run Management L.L.C. bought a new position in CalAmp Corp. during the second quarter worth $347,000. Independent Portfolio Consultants Inc. increased its position in CalAmp Corp. by 58.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 28,810 shares of the company’s stock worth $427,000 after buying an additional 10,650 shares during the period. Aristotle Capital Boston LLC bought a new position in CalAmp Corp. during the first quarter worth $770,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in CalAmp Corp. by 23.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 63,967 shares of the company’s stock worth $1,147,000 after buying an additional 12,210 shares during the period. Institutional investors own 65.97% of the company’s stock.
CalAmp Corp. (NASDAQ:CAMP) traded down 0.50% during midday trading on Tuesday, reaching $14.04. 599,101 shares of the company’s stock were exchanged. The company has a market cap of $510.10 million, a price-to-earnings ratio of 72.75 and a beta of 1.27. CalAmp Corp. has a 52 week low of $13.01 and a 52 week high of $21.35. The firm has a 50-day moving average price of $15.02 and a 200 day moving average price of $15.11.
CalAmp Corp. (NASDAQ:CAMP) last announced its quarterly earnings results on Thursday, September 29th. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $90.50 million for the quarter. CalAmp Corp. had a net margin of 2.21% and a return on equity of 21.17%. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. Analysts anticipate that CalAmp Corp. will post $1.11 EPS for the current year.
A number of equities analysts have recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and issued a $22.00 price target on shares of CalAmp Corp. in a research note on Thursday, October 6th. Zacks Investment Research downgraded shares of CalAmp Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 5th. Aegis downgraded shares of CalAmp Corp. from a “buy” rating to a “hold” rating in a research note on Monday, October 3rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $25.00 price target on shares of CalAmp Corp. in a research note on Sunday, October 2nd. Finally, First Analysis downgraded shares of CalAmp Corp. from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $19.00 to $16.00 in a research note on Friday, September 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $21.56.
In related news, VP Richard K. Vitelle sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $15.00, for a total value of $225,000.00. Following the sale, the vice president now directly owns 304,409 shares of the company’s stock, valued at approximately $4,566,135. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.00% of the stock is currently owned by corporate insiders.
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.
Want to see what other hedge funds are holding CAMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CalAmp Corp. (NASDAQ:CAMP).
Receive News & Ratings for CalAmp Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CalAmp Corp. and related companies with MarketBeat.com's FREE daily email newsletter.