State Street Corp raised its position in shares of CalAmp Corp. (NASDAQ:CAMP) by 4.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 853,844 shares of the Wireless communications provider’s stock after buying an additional 38,090 shares during the period. State Street Corp owned approximately 2.43% of CalAmp Corp. worth $14,333,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in CAMP. Mason Street Advisors LLC increased its position in CalAmp Corp. by 4.3% in the first quarter. Mason Street Advisors LLC now owns 8,280 shares of the Wireless communications provider’s stock worth $139,000 after buying an additional 341 shares in the last quarter. Stifel Financial Corp purchased a new position in CalAmp Corp. during the first quarter worth $171,000. Karp Capital Management Corp purchased a new position in CalAmp Corp. during the first quarter worth $176,000. Dubuque Bank & Trust Co. purchased a new position in CalAmp Corp. during the first quarter worth $183,000. Finally, AQR Capital Management LLC purchased a new position in CalAmp Corp. during the fourth quarter worth $185,000. 72.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CalAmp Corp. (CAMP) traded down 0.61% during mid-day trading on Monday, reaching $17.78. The company’s stock had a trading volume of 29,901 shares. CalAmp Corp. has a 12-month low of $12.13 and a 12-month high of $20.89. The firm’s 50-day moving average price is $19.12 and its 200 day moving average price is $17.88. The firm’s market cap is $629.34 million.
CalAmp Corp. (NASDAQ:CAMP) last issued its quarterly earnings data on Tuesday, June 27th. The Wireless communications provider reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The business had revenue of $88.10 million during the quarter, compared to analysts’ expectations of $86.85 million. CalAmp Corp. had a positive return on equity of 18.84% and a negative net margin of 2.05%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. On average, analysts expect that CalAmp Corp. will post $1.17 EPS for the current year.
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A number of research analysts have weighed in on the company. B. Riley reissued a “buy” rating and issued a $28.00 target price on shares of CalAmp Corp. in a report on Saturday, July 1st. Craig Hallum increased their target price on CalAmp Corp. from $19.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, June 28th. BidaskClub downgraded CalAmp Corp. from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Benchmark Co. assumed coverage on CalAmp Corp. in a report on Tuesday, April 25th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Northland Securities reissued a “buy” rating and issued a $20.00 target price on shares of CalAmp Corp. in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.88.
In other news, CEO Michael J. Burdiek sold 10,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.30% of the company’s stock.
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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