CalAmp Corp. (NASDAQ:CAMP) posted its quarterly earnings results on Tuesday. The Wireless communications provider reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02, Briefing.com reports. The business had revenue of $88.10 million for the quarter, compared to analyst estimates of $86.85 million. CalAmp Corp. had a negative net margin of 2.04% and a positive return on equity of 18.76%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. CalAmp Corp. updated its Q2 guidance to $0.23-0.29 EPS.
Shares of CalAmp Corp. (CAMP) opened at 19.25 on Wednesday. The firm’s market cap is $675.02 million. CalAmp Corp. has a 12 month low of $12.13 and a 12 month high of $19.90. The firm has a 50-day moving average of $18.97 and a 200-day moving average of $16.69.
Several research firms recently issued reports on CAMP. B. Riley reiterated a “buy” rating and set a $22.00 price target on shares of CalAmp Corp. in a research report on Monday, April 17th. Benchmark Co. began coverage on shares of CalAmp Corp. in a research report on Tuesday, April 25th. They set a “buy” rating and a $23.00 price target on the stock. Zacks Investment Research lowered shares of CalAmp Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, April 20th. Northland Securities reiterated a “buy” rating and set a $20.00 price target on shares of CalAmp Corp. in a research report on Monday. Finally, Sidoti lowered shares of CalAmp Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 22nd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $19.75.
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In other CalAmp Corp. news, CEO Michael J. Burdiek sold 10,000 shares of the business’s stock in a transaction that occurred 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 approximately $9,581,860. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Garo Sarkis Sarkissian sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $18.83, for a total transaction of $282,450.00. Following the completion of the transaction, the senior vice president now directly owns 200,680 shares of the company’s stock, valued at approximately $3,778,804.40. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in CAMP. Russell Investments Group Ltd. bought a new position in CalAmp Corp. during the fourth quarter worth approximately $7,506,000. Comerica Bank boosted its stake in shares of CalAmp Corp. by 5.7% in the fourth quarter. Comerica Bank now owns 38,607 shares of the Wireless communications provider’s stock worth $579,000 after buying an additional 2,080 shares during the period. State Street Corp boosted its stake in shares of CalAmp Corp. by 10.1% in the fourth quarter. State Street Corp now owns 815,754 shares of the Wireless communications provider’s stock worth $11,830,000 after buying an additional 75,118 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of CalAmp Corp. by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,497,513 shares of the Wireless communications provider’s stock worth $21,714,000 after buying an additional 111,643 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of CalAmp Corp. during the fourth quarter worth about $368,000. 74.20% of the stock is owned by institutional investors and hedge funds.
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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