Short Interest in CSP Inc. (NASDAQ:CSPI) Increases By 15.0%

CSP Inc. (NASDAQ:CSPI) was the recipient of a large 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 trading volume, of 174,300 shares, the short-interest ratio is presently 2.7 days.

Insiders Place Their Bets

In other news, insider Joseph R. Nerges acquired 1,940 shares of the stock in a transaction on Monday, March 11th. The shares were purchased at an average price of $17.97 per share, for a total transaction of $34,852.10. Following the transaction, the insider now directly owns 1,335,366 shares of the company’s stock, valued at $23,989,850.19. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought 3,140 shares of company stock worth $57,400 in the last 90 days. Company insiders own 15.30% of the company’s stock.

Hedge Funds Weigh In On CSP

A number of hedge funds and other institutional investors have recently made changes to their positions in CSPI. UBS Group AG bought a new stake in CSP in the third quarter worth approximately $38,000. JPMorgan Chase & Co. increased its holdings in CSP by 100.0% in the first quarter. JPMorgan Chase & Co. now owns 4,000 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 2,000 shares in the last quarter. State Street Corp bought a new stake in CSP in the first quarter worth approximately $80,000. Northern Trust Corp bought a new stake in CSP in the fourth quarter worth approximately $305,000. Finally, BlackRock Inc. increased its holdings in CSP by 112.9% in the second quarter. BlackRock Inc. now owns 18,756 shares of the information technology services provider’s stock worth $223,000 after purchasing an additional 9,948 shares in the last quarter. 26.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. TheStreet cut CSP from a “b-” rating to a “c” rating in a research report on Thursday, February 15th. StockNews.com cut CSP from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th.

CSP Stock Up 5.5 %

Shares of CSPI stock traded up $0.89 during mid-day trading on Tuesday, reaching $17.10. 77,542 shares of the stock traded hands, compared to its average volume of 163,716. The stock’s fifty day simple moving average is $19.13 and its two-hundred day simple moving average is $13.59. The company has a market cap of $166.04 million, a price-to-earnings 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.

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

CSP Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Monday, February 26th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis 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%.

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.