Bank of America Corp DE decreased its holdings in CalAmp Corp. (NASDAQ:CAMP) by 20.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,430 shares of the Wireless communications provider’s stock after selling 25,309 shares during the period. Bank of America Corp DE owned about 0.28% of CalAmp worth $2,283,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of CAMP. Voya Investment Management LLC lifted its position in CalAmp by 50.9% during the second quarter. Voya Investment Management LLC now owns 1,070,035 shares of the Wireless communications provider’s stock valued at $25,071,000 after purchasing an additional 361,001 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of CalAmp in the second quarter valued at about $2,027,000. First Republic Investment Management Inc. purchased a new position in shares of CalAmp in the second quarter valued at about $217,000. Laurion Capital Management LP lifted its position in shares of CalAmp by 35.8% in the second quarter. Laurion Capital Management LP now owns 19,830 shares of the Wireless communications provider’s stock valued at $465,000 after acquiring an additional 5,230 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of CalAmp by 167.0% in the second quarter. Renaissance Technologies LLC now owns 433,300 shares of the Wireless communications provider’s stock valued at $10,152,000 after acquiring an additional 271,000 shares in the last quarter. 78.23% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Garo Sarkis Sarkissian sold 12,500 shares of CalAmp stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $20.43, for a total value of $255,375.00. Following the sale, the senior vice president now directly owns 183,876 shares of the company’s stock, valued at $3,756,586.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Burdiek sold 6,000 shares of CalAmp stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $21.69, for a total value of $130,140.00. Following the completion of the sale, the chief executive officer now directly owns 513,455 shares in the company, valued at $11,136,838.95. The disclosure for this sale can be found here. Insiders sold 21,000 shares of company stock worth $436,140 over the last ninety days. Insiders own 5.40% of the company’s stock.
Shares of CalAmp stock opened at $20.20 on Friday. CalAmp Corp. has a 52 week low of $18.97 and a 52 week high of $25.45. The stock has a market capitalization of $696.26 million, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.85 and a beta of 1.70. The company has a current ratio of 4.39, a quick ratio of 4.07 and a debt-to-equity ratio of 1.28.
CalAmp (NASDAQ:CAMP) last issued its earnings results on Thursday, September 27th. The Wireless communications provider reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.03. CalAmp had a return on equity of 16.87% and a net margin of 3.88%. The firm had revenue of $96.00 million for the quarter, compared to analysts’ expectations of $95.36 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that CalAmp Corp. will post 0.94 EPS for the current fiscal year.
Several brokerages have recently commented on CAMP. First Analysis set a $29.00 price objective on CalAmp and gave the company a “buy” rating in a research report on Sunday, October 28th. TheStreet downgraded CalAmp from a “b-” rating to a “c+” rating in a research report on Friday, October 19th. Jefferies Financial Group began coverage on CalAmp in a research report on Monday, October 15th. They issued a “hold” rating and a $22.00 price objective on the stock. BidaskClub downgraded CalAmp from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, ValuEngine downgraded CalAmp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $27.43.
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CalAmp Corp. provides in telematics systems, and software and subscription services worldwide. The company provides mobile resource management telematics devices for the Internet of Things market, which enable customers to optimize their operations by collecting, monitoring, and reporting business-critical information and desired intelligence from remote and mobile assets.
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