CSP Inc. (NASDAQ:CSPI) Short Interest Update

CSP Inc. (NASDAQ:CSPI) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 463,500 shares, a growth of 15.0% from the March 15th total of 402,900 shares. Based on an average daily volume of 174,300 shares, the short-interest ratio is presently 2.7 days.

Insiders Place Their Bets

In related news, insider Joseph R. Nerges acquired 1,940 shares of CSP stock in a transaction dated Monday, March 11th. The stock was acquired at an average cost of $17.97 per share, with a total value of $34,852.10. Following the purchase, the insider now directly owns 1,335,366 shares in the company, valued at approximately $23,989,850.19. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders bought 3,140 shares of company stock worth $57,400 over the last ninety days. Company insiders own 15.30% of the company’s stock.

Institutional Investors Weigh In On CSP

Hedge funds and other institutional investors have recently made changes to their positions in the business. Visionary Wealth Advisors grew its position in CSP by 0.6% during the third quarter. Visionary Wealth Advisors now owns 284,040 shares of the information technology services provider’s stock worth $4,971,000 after buying an additional 1,722 shares in the last quarter. JPMorgan Chase & Co. grew its position in CSP by 100.0% during the first quarter. JPMorgan Chase & Co. now owns 4,000 shares of the information technology services provider’s stock worth $31,000 after buying an additional 2,000 shares in the last quarter. UBS Group AG acquired a new stake in CSP during the third quarter worth about $38,000. Dimensional Fund Advisors LP grew its position in CSP by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 268,958 shares of the information technology services provider’s stock worth $3,650,000 after buying an additional 3,374 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in CSP by 2.5% during the first quarter. Renaissance Technologies LLC now owns 162,963 shares of the information technology services provider’s stock worth $2,215,000 after buying an additional 3,900 shares in the last quarter. 26.74% of the stock is owned by institutional investors and hedge funds.

CSP Trading Up 5.5 %

CSP stock traded up $0.89 during mid-day trading on Tuesday, hitting $17.10. 77,542 shares of the company’s stock were exchanged, compared to its average volume of 163,716. The stock has a market cap of $166.04 million, a P/E ratio of 39.31 and a beta of 1.24. CSP has a 1-year low of $4.91 and a 1-year high of $29.92. The stock has a 50 day moving average of $19.13 and a two-hundred day moving average of $13.59.

CSP (NASDAQ:CSPI) last posted its earnings results on Wednesday, February 14th. The information technology services provider reported ($0.01) EPS for the quarter. The business had revenue of $15.38 million for the quarter. CSP had a return on equity of 8.76% and a net margin of 6.33%.

CSP Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 26th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, February 23rd. CSP’s dividend payout ratio is currently 22.99%.

Analysts Set New Price Targets

CSPI has been the subject of a number of research analyst reports. StockNews.com lowered CSP from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. TheStreet lowered CSP from a “b-” rating to a “c” rating in a report on Thursday, February 15th.

About CSP

CSP Inc develops and markets IT integration solutions, security products, managed IT services, cloud services, purpose-built network adapters, and cluster computer systems for commercial and defense customers worldwide. It operates in two segments, Technology Solutions and High Performance Products. The Technology Solutions segment provides third-party computer hardware and software as a value-added reseller to various customers in web and infrastructure hosting, education, telecommunications, healthcare services, distribution, financial and professional services, and manufacturing industries.