Panagora Asset Management Inc. reduced its stake in CalAmp Corp. (NASDAQ:CAMP) by 62.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 47,440 shares of the Wireless communications provider’s stock after selling 80,599 shares during the quarter. Panagora Asset Management Inc. owned 0.14% of CalAmp worth $554,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of CAMP. Royce & Associates LP acquired a new stake in CalAmp during the 1st quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in CalAmp during the 2nd quarter worth $62,000. Meeder Asset Management Inc. purchased a new position in CalAmp during the 2nd quarter worth $69,000. Quantamental Technologies LLC purchased a new position in CalAmp during the 1st quarter worth $70,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in CalAmp during the 2nd quarter worth $128,000. Hedge funds and other institutional investors own 77.62% of the company’s stock.
Several research analysts have issued reports on CAMP shares. Northland Securities raised shares of CalAmp from a “market perform” rating to an “outperform” rating in a research report on Friday, June 28th. BidaskClub cut shares of CalAmp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Goldman Sachs Group cut shares of CalAmp from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $13.00 to $11.00 in a research note on Wednesday, May 29th. TheStreet cut shares of CalAmp from a “c” rating to a “d+” rating in a research note on Thursday, June 27th. Finally, Craig Hallum restated a “buy” rating and issued a $16.00 target price (down previously from $17.00) on shares of CalAmp in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.38.
CAMP traded down $0.49 during midday trading on Friday, reaching $9.42. 9,351 shares of the company’s stock were exchanged, compared to its average volume of 307,238. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.60 and a quick ratio of 1.40. The stock has a market capitalization of $329.24 million, a PE ratio of 13.99, a P/E/G ratio of 2.77 and a beta of 1.98. The business’s 50-day moving average price is $10.75 and its 200 day moving average price is $12.24. CalAmp Corp. has a 1-year low of $9.48 and a 1-year high of $24.37.
CalAmp (NASDAQ:CAMP) last announced its earnings results on Thursday, June 27th. The Wireless communications provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.18). The business had revenue of $89.10 million for the quarter, compared to analyst estimates of $86.91 million. CalAmp had a return on equity of 11.85% and a net margin of 0.33%. The business’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. As a group, analysts expect that CalAmp Corp. will post 0.36 EPS for the current fiscal year.
CalAmp Corp. provides in telematics systems, and software and subscription services in the United States, Latin America, Western Europe, Asia Pacific, the Middle East, Africa, and internationally. The company offers 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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