Ismail Azeri Buys 2,282 Shares of CSP (NASDAQ:CSPI) Stock

CSP Inc. (NASDAQ:CSPI) Director Ismail Azeri bought 2,282 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average cost of $9.38 per share, with a total value of $21,405.16. Following the completion of the acquisition, the director owned 108,272 shares of the company’s stock, valued at $1,015,591.36. This represents a 2.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Ismail Azeri also recently made the following trade(s):

• On Wednesday, May 13th, Ismail Azeri acquired 218 shares of CSP stock. The shares were acquired at an average cost of $9.41 per share, with a total value of $2,051.38.

CSP Price Performance

Shares of CSPI opened at $9.30 on Friday. The firm has a 50 day simple moving average of $8.91 and a 200-day simple moving average of $10.64. CSP Inc. has a 1-year low of $7.55 and a 1-year high of $15.94. The stock has a market cap of $93.65 million, a price-to-earnings ratio of -930.00 and a beta of 0.80.

CSP (NASDAQ:CSPI) last issued its quarterly earnings data on Thursday, May 7th. The information technology services provider reported $0.03 earnings per share for the quarter. CSP had a negative net margin of 0.20% and a negative return on equity of 0.25%. The business had revenue of $16.01 million during the quarter.

CSP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, May 21st. CSP’s dividend payout ratio (DPR) is -1,200.00%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CSPI. Bank of America Corp DE lifted its stake in shares of CSP by 3,943.3% during the 2nd quarter. Bank of America Corp DE now owns 2,426 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 2,366 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of CSP during the 2nd quarter worth $49,000. Raymond James Financial Inc. purchased a new position in shares of CSP during the 2nd quarter worth $91,000. Wells Fargo & Company MN lifted its stake in shares of CSP by 72.6% during the 4th quarter. Wells Fargo & Company MN now owns 7,618 shares of the information technology services provider’s stock worth $95,000 after purchasing an additional 3,204 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in shares of CSP during the 2nd quarter worth $122,000. Hedge funds and other institutional investors own 26.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wall Street Zen cut shares of CSP from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Weiss Ratings raised shares of CSP from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

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.