CalAmp (NASDAQ:CAMP) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

CalAmp (NASDAQ:CAMPGet Rating) posted its quarterly earnings results on Thursday. The Wireless communications provider reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02, Briefing.com reports. The company had revenue of $72.80 million during the quarter, compared to analysts’ expectations of $69.27 million. CalAmp had a negative net margin of 13.60% and a negative return on equity of 20.41%. The firm’s revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 EPS.

CalAmp Price Performance

Shares of NASDAQ CAMP opened at $4.87 on Friday. The business has a 50-day moving average price of $5.19 and a 200 day moving average price of $5.79. The company has a debt-to-equity ratio of 7.94, a current ratio of 1.97 and a quick ratio of 1.74. CalAmp has a 52-week low of $3.90 and a 52-week high of $10.68.

Insiders Place Their Bets

In other news, Director B. Riley Asset Management, Llc acquired 107,587 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The stock was acquired at an average cost of $4.08 per share, with a total value of $438,954.96. Following the completion of the acquisition, the director now owns 2,189,159 shares of the company’s stock, valued at $8,931,768.72. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Jeffery R. Gardner bought 23,000 shares of the stock in a transaction on Friday, July 8th. The shares were bought at an average cost of $4.30 per share, for a total transaction of $98,900.00. Following the purchase, the chief executive officer now owns 346,683 shares of the company’s stock, valued at approximately $1,490,736.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director B. Riley Asset Management, Llc bought 107,587 shares of the company’s stock in a transaction dated Wednesday, July 13th. The stock was bought at an average cost of $4.08 per share, for a total transaction of $438,954.96. Following the acquisition, the director now owns 2,189,159 shares of the company’s stock, valued at approximately $8,931,768.72. The disclosure for this purchase can be found here. Insiders have bought a total of 467,487 shares of company stock valued at $2,002,521 over the last quarter. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On CalAmp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MetLife Investment Management LLC lifted its stake in shares of CalAmp by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 19,506 shares of the Wireless communications provider’s stock worth $143,000 after acquiring an additional 6,955 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in CalAmp by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,953 shares of the Wireless communications provider’s stock valued at $226,000 after purchasing an additional 3,833 shares during the period. Thrivent Financial for Lutherans boosted its holdings in CalAmp by 21.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 35,425 shares of the Wireless communications provider’s stock valued at $148,000 after purchasing an additional 6,196 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in CalAmp by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 93,494 shares of the Wireless communications provider’s stock worth $684,000 after purchasing an additional 2,546 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of CalAmp during the 2nd quarter worth approximately $406,000. 88.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAMP has been the topic of several recent analyst reports. Craig Hallum raised CalAmp from a “hold” rating to a “buy” rating and increased their target price for the company from $8.00 to $10.00 in a report on Tuesday, August 16th. StockNews.com cut CalAmp from a “hold” rating to a “sell” rating in a research note on Monday, June 27th.

About CalAmp

(Get Rating)

CalAmp Corp., a connected intelligence company, provides leverages a data-driven solutions ecosystem to people and organizations in the United States, Europe, the Middle East, Africa, Latin America, the Asia-Pacific, and internationally. The company operates in two segments, Software & Subscription Services and Telematics Products.

Further Reading

Earnings History for CalAmp (NASDAQ:CAMP)

Receive News & Ratings for CalAmp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CalAmp and related companies with MarketBeat.com's FREE daily email newsletter.