Cambium Learning Group, Inc. (NASDAQ:ABCD) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 228,465 shares, a drop of 62.9% from the August 15th total of 616,627 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average trading volume of 156,063 shares, the short-interest ratio is currently 1.5 days.
NASDAQ ABCD opened at $12.49 on Tuesday. The stock has a market cap of $599.69 million, a price-to-earnings ratio of 29.05 and a beta of -0.78. Cambium Learning Group has a fifty-two week low of $5.19 and a fifty-two week high of $13.98. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of -5.94.
Cambium Learning Group (NASDAQ:ABCD) last released its quarterly earnings data on Monday, August 13th. The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). The company had revenue of $41.00 million for the quarter, compared to analysts’ expectations of $39.97 million. Cambium Learning Group had a net margin of 27.45% and a negative return on equity of 70.40%. analysts forecast that Cambium Learning Group will post 0.39 EPS for the current year.
In related news, insider Paul Fonte sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $13.22, for a total value of $66,100.00. Following the completion of the transaction, the insider now owns 5,000 shares in the company, valued at approximately $66,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 72.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its stake in shares of Cambium Learning Group by 32.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,510,400 shares of the company’s stock valued at $16,841,000 after buying an additional 372,600 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Cambium Learning Group by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,510,221 shares of the company’s stock worth $16,839,000 after purchasing an additional 94,393 shares during the period. Janus Henderson Group PLC purchased a new position in Cambium Learning Group during the second quarter worth approximately $2,691,000. BlackRock Inc. raised its stake in Cambium Learning Group by 25.3% during the second quarter. BlackRock Inc. now owns 748,945 shares of the company’s stock worth $8,351,000 after purchasing an additional 151,128 shares during the period. Finally, GSA Capital Partners LLP raised its stake in Cambium Learning Group by 437.6% during the second quarter. GSA Capital Partners LLP now owns 70,190 shares of the company’s stock worth $783,000 after purchasing an additional 57,135 shares during the period. Institutional investors and hedge funds own 21.94% of the company’s stock.
A number of equities analysts have weighed in on ABCD shares. Zacks Investment Research upgraded Cambium Learning Group from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Thursday, August 16th. BidaskClub lowered Cambium Learning Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st.
Cambium Learning Group Company Profile
Cambium Learning Group, Inc provides educational technology solutions in the United States and internationally. It operates in three segments: Learning A-Z, ExploreLearning, and Voyager Sopris Learning. The Learning A-Z segment offers PreK-6 technology-enabled learning resources. It operates subscription-based Websites, including Reading A-Z, Raz-Kids, Headsprout, Science A-Z, Writing A-Z, Vocabulary A-Z, and ReadyTest A-Z that provide online supplemental books, lessons, assessments, and other instructional resources for individual classrooms, schools, and districts.
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