TIAA CREF Investment Management LLC cut its stake in shares of CalAmp Corp. (NASDAQ:CAMP) by 6.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,856 shares of the Wireless communications provider’s stock after selling 6,246 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.27% of CalAmp Corp. worth $1,609,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the stock. Mason Street Advisors LLC raised its stake in shares of 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 valued at $139,000 after buying an additional 341 shares during the period. Stifel Financial Corp purchased a new stake in shares of CalAmp Corp. during the first quarter valued at $171,000. Karp Capital Management Corp purchased a new stake in shares of CalAmp Corp. during the first quarter valued at $176,000. Dubuque Bank & Trust Co. purchased a new stake in shares of CalAmp Corp. during the first quarter valued at $183,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in shares of CalAmp Corp. during the first quarter valued at $193,000. Institutional investors and hedge funds own 73.80% of the company’s stock.
Shares of CalAmp Corp. (NASDAQ:CAMP) traded up 0.28% during midday trading on Friday, hitting $18.14. The stock had a trading volume of 31,743 shares. The firm’s 50-day moving average price is $19.42 and its 200-day moving average price is $17.75. The firm’s market capitalization is $642.08 million. CalAmp Corp. has a one year low of $12.13 and a one year high of $20.89.
CalAmp Corp. (NASDAQ:CAMP) last posted its quarterly earnings results on Tuesday, June 27th. 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. CalAmp Corp. had a positive return on equity of 18.84% and a negative net margin of 2.05%. The business had revenue of $88.10 million for the quarter, compared to analyst estimates of $86.85 million. During the same period last year, the company earned $0.30 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. On average, equities analysts predict that CalAmp Corp. will post $1.17 EPS for the current year.
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Several brokerages have recently weighed in on CAMP. B. Riley restated a “buy” rating and issued a $28.00 price objective on shares of CalAmp Corp. in a report on Saturday, July 1st. BidaskClub lowered CalAmp Corp. from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Northland Securities restated a “buy” rating and issued a $20.00 price objective on shares of CalAmp Corp. in a report on Monday, June 26th. Craig Hallum upped their price objective on CalAmp Corp. from $19.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, June 28th. Finally, Benchmark Co. began coverage on CalAmp Corp. in a report on Tuesday, April 25th. They issued a “buy” rating and a $23.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. CalAmp Corp. has a consensus rating of “Hold” and a consensus target price of $20.88.
In other CalAmp Corp. news, CEO Michael J. Burdiek sold 10,000 shares of CalAmp Corp. stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the chief executive officer now directly owns 479,093 shares in the company, valued at $9,581,860. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Garo Sarkis Sarkissian sold 15,000 shares of CalAmp Corp. stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $18.83, for a total value of $282,450.00. Following the transaction, the senior vice president now owns 200,680 shares in the company, valued at $3,778,804.40. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.
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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