Quantitative Investment Management LLC trimmed its position in CalAmp Corp. (NASDAQ:CAMP) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,400 shares of the Wireless communications provider’s stock after selling 4,500 shares during the quarter. Quantitative Investment Management LLC’s holdings in CalAmp were worth $1,080,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of CalAmp by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 332,078 shares of the Wireless communications provider’s stock worth $7,014,000 after buying an additional 24,215 shares in the last quarter. B. Riley Financial Inc. increased its position in shares of CalAmp by 112.5% in the third quarter. B. Riley Financial Inc. now owns 68,286 shares of the Wireless communications provider’s stock worth $1,458,000 after purchasing an additional 36,153 shares during the last quarter. Rice Hall James & Associates LLC increased its position in shares of CalAmp by 8.4% in the fourth quarter. Rice Hall James & Associates LLC now owns 698,206 shares of the Wireless communications provider’s stock worth $14,963,000 after purchasing an additional 53,900 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of CalAmp by 60.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 13,260 shares of the Wireless communications provider’s stock worth $308,000 after purchasing an additional 5,020 shares during the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of CalAmp by 380.1% in the fourth quarter. LS Investment Advisors LLC now owns 5,776 shares of the Wireless communications provider’s stock worth $124,000 after purchasing an additional 4,573 shares during the last quarter. 71.57% of the stock is currently owned by hedge funds and other institutional investors.
In other CalAmp news, CEO Michael J. Burdiek sold 9,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $21.68, for a total transaction of $195,120.00. Following the transaction, the chief executive officer now directly owns 492,434 shares in the company, valued at $10,675,969.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Garo Sarkis Sarkissian sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $25.00, for a total transaction of $50,000.00. Following the transaction, the senior vice president now owns 194,289 shares in the company, valued at $4,857,225. The disclosure for this sale can be found here. Insiders have sold 30,500 shares of company stock worth $699,645 over the last quarter. Company insiders own 5.30% of the company’s stock.
CalAmp (NASDAQ:CAMP) last issued its quarterly earnings results on Thursday, December 21st. The Wireless communications provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. CalAmp had a net margin of 5.00% and a return on equity of 19.20%. The business had revenue of $93.67 million for the quarter, compared to analysts’ expectations of $91.10 million. During the same period last year, the business earned $0.21 earnings per share. The business’s quarterly revenue was up 12.4% on a year-over-year basis. equities research analysts predict that CalAmp Corp. will post 0.92 EPS for the current fiscal year.
CAMP has been the topic of several research analyst reports. ValuEngine cut shares of CalAmp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. B. Riley restated a “buy” rating and issued a $28.00 price objective on shares of CalAmp in a research report on Tuesday, December 19th. Canaccord Genuity restated a “buy” rating and issued a $27.00 price objective on shares of CalAmp in a research report on Thursday, December 21st. Zacks Investment Research cut shares of CalAmp from a “hold” rating to a “sell” rating in a research report on Thursday, December 28th. Finally, BidaskClub upgraded shares of CalAmp from a “hold” rating to a “buy” rating in a research report on Saturday, January 6th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $26.44.
About CalAmp
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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