Goldman Sachs Group Inc. reduced its position in shares of CalAmp Corp. (NASDAQ:CAMP) by 20.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,536 shares of the Wireless communications provider’s stock after selling 16,585 shares during the period. Goldman Sachs Group Inc. owned 0.19% of CalAmp Corp. worth $1,353,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Precept Management LLC purchased a new stake in shares of CalAmp Corp. during the second quarter worth about $1,260,000. Voya Investment Management LLC boosted its holdings in shares of CalAmp Corp. by 2.8% during the second quarter. Voya Investment Management LLC now owns 878,417 shares of the Wireless communications provider’s stock worth $17,858,000 after purchasing an additional 23,819 shares during the period. B. Riley Financial Inc. boosted its holdings in shares of CalAmp Corp. by 10.9% during the second quarter. B. Riley Financial Inc. now owns 32,133 shares of the Wireless communications provider’s stock worth $653,000 after purchasing an additional 3,156 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of CalAmp Corp. by 9.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,735,058 shares of the Wireless communications provider’s stock worth $35,274,000 after purchasing an additional 155,739 shares during the period. Finally, Virtu KCG Holdings LLC purchased a new stake in shares of CalAmp Corp. during the second quarter worth about $560,000. Institutional investors own 72.12% of the company’s stock.
A number of research firms have recently weighed in on CAMP. Canaccord Genuity increased their target price on shares of CalAmp Corp. from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Zacks Investment Research upgraded shares of CalAmp Corp. from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, October 3rd. BidaskClub upgraded shares of CalAmp Corp. from a “sell” rating to a “hold” rating in a report on Friday, August 25th. B. Riley reiterated a “buy” rating and set a $28.00 target price on shares of CalAmp Corp. in a report on Friday, September 29th. Finally, Northland Securities reiterated a “buy” rating and set a $25.00 target price on shares of CalAmp Corp. in a report on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.14.
CalAmp Corp. (CAMP) opened at $21.69 on Friday. The company has a market capitalization of $789.99 million, a PE ratio of 24.93 and a beta of 1.66. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.36 and a current ratio of 2.72.
CalAmp Corp. (NASDAQ:CAMP) last released its quarterly earnings results on Thursday, September 28th. The Wireless communications provider reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. CalAmp Corp. had a net margin of 1.31% and a return on equity of 18.18%. The company had revenue of $89.80 million during the quarter, compared to the consensus estimate of $88.72 million. During the same period in the prior year, the firm earned $0.27 earnings per share. CalAmp Corp.’s revenue was down .8% on a year-over-year basis. equities analysts anticipate that CalAmp Corp. will post 0.95 EPS for the current fiscal year.
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In related news, CEO Michael J. Burdiek sold 9,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $22.26, for a total value of $200,340.00. Following the completion of the transaction, the chief executive officer now directly owns 502,434 shares of the company’s stock, valued at $11,184,180.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kimberly Alexy sold 25,000 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $22.62, for a total transaction of $565,500.00. Following the completion of the transaction, the director now directly owns 64,729 shares of the company’s stock, valued at $1,464,169.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,833 shares of company stock valued at $1,216,660. 5.30% of the stock is owned by insiders.
CalAmp Corp. Profile
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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