Meeder Asset Management Inc. purchased a new position in CalAmp Corp. (NASDAQ:CAMP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,822 shares of the Wireless communications provider’s stock, valued at approximately $69,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of CAMP. Royce & Associates LP bought a new position in CalAmp during the 1st quarter worth about $26,000. Quantamental Technologies LLC bought a new position in CalAmp during the 1st quarter worth about $70,000. Stevens Capital Management LP bought a new position in CalAmp during the 2nd quarter worth about $146,000. Bbva Compass Bancshares Inc. grew its holdings in CalAmp by 9.3% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 14,769 shares of the Wireless communications provider’s stock worth $186,000 after acquiring an additional 1,260 shares in the last quarter. Finally, Comerica Bank grew its holdings in CalAmp by 10.3% during the 1st quarter. Comerica Bank now owns 37,881 shares of the Wireless communications provider’s stock worth $494,000 after acquiring an additional 3,545 shares in the last quarter. Hedge funds and other institutional investors own 77.62% of the company’s stock.
CAMP has been the topic of several recent research reports. Zacks Investment Research upgraded shares of CalAmp from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Goldman Sachs Group cut shares of CalAmp from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $13.00 to $11.00 in a report on Wednesday, May 29th. ValuEngine upgraded shares of CalAmp from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. TheStreet cut shares of CalAmp from a “c” rating to a “d+” rating in a report on Thursday, June 27th. Finally, Northland Securities upgraded shares of CalAmp from a “market perform” rating to an “outperform” rating in a report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $19.38.
CalAmp (NASDAQ:CAMP) last released its quarterly earnings results on Thursday, June 27th. The Wireless communications provider reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.18). The firm had revenue of $89.10 million for the quarter, compared to analysts’ expectations of $86.91 million. CalAmp had a net margin of 0.33% and a return on equity of 11.85%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 earnings per share. As a group, equities analysts predict that CalAmp Corp. will post 0.36 earnings per share for the current fiscal year.
In other news, Director Larry J. Wolfe purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was acquired at an average cost of $11.33 per share, with a total value of $566,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.90% of the company’s stock.
CalAmp Company Profile
CalAmp Corp. provides in telematics systems, and software and subscription services in the United States, Latin America, Western Europe, Asia Pacific, the Middle East, Africa, and internationally. The company offers 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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