Guggenheim Capital LLC purchased a new stake in CalAmp Corp. (NASDAQ:CAMP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 81,523 shares of the Wireless communications provider’s stock, valued at approximately $1,748,000. Guggenheim Capital LLC owned about 0.23% of CalAmp as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also modified their holdings of CAMP. LS Investment Advisors LLC boosted its holdings in CalAmp by 380.1% in the fourth quarter. LS Investment Advisors LLC now owns 5,776 shares of the Wireless communications provider’s stock valued at $124,000 after purchasing an additional 4,573 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in CalAmp in the fourth quarter valued at about $259,000. Crossmark Global Holdings Inc. purchased a new position in CalAmp in the fourth quarter valued at about $294,000. Koch Industries Inc. purchased a new position in CalAmp in the fourth quarter valued at about $322,000. Finally, Arizona State Retirement System boosted its holdings in CalAmp by 226.2% in the fourth quarter. Arizona State Retirement System now owns 59,836 shares of the Wireless communications provider’s stock valued at $1,282,000 after purchasing an additional 41,493 shares during the last quarter. 71.43% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ CAMP opened at $23.54 on Thursday. CalAmp Corp. has a 52-week low of $16.40 and a 52-week high of $25.45. The company has a market cap of $825.42, a price-to-earnings ratio of 27.06 and a beta of 1.72. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.36 and a current ratio of 2.76.
A number of brokerages recently commented on CAMP. Roth Capital began coverage on CalAmp in a report on Friday, February 2nd. They issued a “buy” rating and a $28.00 price target for the company. BidaskClub raised CalAmp from a “hold” rating to a “buy” rating in a report on Saturday, January 6th. ValuEngine raised CalAmp from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. First Analysis upgraded CalAmp from an “equal weight” rating to an “overweight” rating and set a $29.00 price objective on the stock in a research note on Friday, February 16th. Finally, Craig Hallum cut CalAmp from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research note on Thursday, March 8th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.44.
In other news, SVP Garo Sarkis Sarkissian sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the sale, the senior vice president now directly owns 194,289 shares in the company, valued at approximately $4,857,225. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Burdiek sold 4,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $24.35, for a total value of $97,400.00. Following the sale, the chief executive officer now owns 487,434 shares in the company, valued at $11,869,017.90. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock worth $720,150 in the last 90 days. 5.30% of the stock is currently owned by insiders.
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CalAmp Corp. provides Internet of Things (IoT) enablement solutions for various mobile and fixed applications worldwide. The company provides solutions for mobile resource management and applications for the IoT market, which enable customers in the transportation, government, construction, automotive, and energy markets to optimize their operations by collecting, monitoring, and reporting business-critical data and desired intelligence from remote and mobile assets.
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