CalAmp Corp. (NASDAQ:CAMP) CEO Michael J. Burdiek sold 4,000 shares of CalAmp stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $24.35, for a total value of $97,400.00. Following the completion of the transaction, the chief executive officer now owns 487,434 shares of the company’s stock, valued at $11,869,017.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of CalAmp Corp. (CAMP) opened at $24.76 on Friday. The firm has a market capitalization of $882.08, a P/E ratio of 50.53 and a beta of 1.73. The company has a current ratio of 2.76, a quick ratio of 2.36 and a debt-to-equity ratio of 0.76. CalAmp Corp. has a twelve month low of $14.79 and a twelve month high of $25.45.
CalAmp (NASDAQ:CAMP) last released its quarterly earnings results on Thursday, December 21st. The Wireless communications provider reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.07. The company had revenue of $93.67 million for the quarter, compared to analysts’ expectations of $91.10 million. CalAmp had a return on equity of 19.20% and a net margin of 5.00%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share. sell-side analysts forecast that CalAmp Corp. will post 0.91 EPS for the current year.
A number of brokerages have commented on CAMP. Roth Capital began coverage on CalAmp in a research note on Friday. They issued a “buy” rating and a $28.00 target price for the company. ValuEngine upgraded CalAmp from a “hold” rating to a “buy” rating in a research note on Friday. Canaccord Genuity restated a “buy” rating and issued a $27.00 target price on shares of CalAmp in a research note on Thursday, December 21st. B. Riley restated a “buy” rating and issued a $28.00 target price on shares of CalAmp in a research note on Tuesday, December 19th. Finally, JPMorgan Chase & Co. upgraded CalAmp from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $22.76 to $25.00 in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. CalAmp has a consensus rating of “Buy” and an average target price of $26.00.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of CalAmp by 7.9% during the third quarter. JPMorgan Chase & Co. now owns 332,078 shares of the Wireless communications provider’s stock valued at $7,014,000 after buying an additional 24,215 shares during the last quarter. B. Riley Financial Inc. raised its holdings in shares of CalAmp by 112.5% during the third quarter. B. Riley Financial Inc. now owns 68,286 shares of the Wireless communications provider’s stock valued at $1,458,000 after buying an additional 36,153 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of CalAmp by 3.3% during the second quarter. Vanguard Group Inc. now owns 2,012,399 shares of the Wireless communications provider’s stock valued at $40,911,000 after buying an additional 63,759 shares during the last quarter. State Street Corp raised its holdings in shares of CalAmp by 4.4% during the second quarter. State Street Corp now owns 891,016 shares of the Wireless communications provider’s stock valued at $18,114,000 after buying an additional 37,172 shares during the last quarter. Finally, Nomura Holdings Inc. raised its holdings in shares of CalAmp by 11.8% during the second quarter. Nomura Holdings Inc. now owns 326,846 shares of the Wireless communications provider’s stock valued at $6,611,000 after buying an additional 34,422 shares during the last quarter. 72.65% of the stock is currently owned by institutional investors.
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CalAmp Company 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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