Connors Investor Services Inc. increased its position in shares of CalAmp Corp. (NASDAQ:CAMP) by 102.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 271,616 shares of the Wireless communications provider’s stock after buying an additional 137,570 shares during the period. Connors Investor Services Inc. owned about 0.81% of CalAmp worth $3,172,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CAMP. Atria Investments LLC purchased a new stake in shares of CalAmp during the second quarter worth approximately $9,248,000. Invesco Ltd. boosted its holdings in CalAmp by 166.4% in the second quarter. Invesco Ltd. now owns 394,859 shares of the Wireless communications provider’s stock valued at $4,612,000 after purchasing an additional 246,612 shares in the last quarter. California Public Employees Retirement System boosted its holdings in CalAmp by 79.9% in the first quarter. California Public Employees Retirement System now owns 386,647 shares of the Wireless communications provider’s stock valued at $4,864,000 after purchasing an additional 171,713 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in CalAmp in the second quarter valued at approximately $1,819,000. Finally, Roumell Asset Management LLC acquired a new position in CalAmp in the second quarter valued at approximately $1,605,000. Hedge funds and other institutional investors own 78.15% of the company’s stock.
Shares of CAMP stock traded up $0.06 during trading hours on Thursday, hitting $11.26. The stock had a trading volume of 18,661 shares, compared to its average volume of 245,082. The firm has a market capitalization of $320.66 million, a PE ratio of 16.46, a PEG ratio of 3.55 and a beta of 1.97. CalAmp Corp. has a twelve month low of $9.35 and a twelve month high of $24.37. The stock’s 50 day moving average is $10.27 and its 200 day moving average is $11.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.60 and a quick ratio of 1.40.
In other news, Director Larry J. Wolfe acquired 50,000 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was acquired at an average cost of $11.33 per share, with a total value of $566,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.90% of the stock is currently owned by corporate insiders.
A number of equities analysts recently issued reports on CAMP shares. Northland Securities reaffirmed a “buy” rating on shares of CalAmp in a report on Tuesday, September 3rd. TheStreet downgraded CalAmp from a “c” rating to a “d+” rating in a report on Thursday, June 27th. ValuEngine downgraded CalAmp from a “buy” rating to a “hold” rating in a report on Thursday. BidaskClub raised CalAmp from a “hold” rating to a “buy” rating in a report on Monday. Finally, Goldman Sachs Group downgraded CalAmp from a “neutral” rating to a “sell” rating and lowered their price target for the company from $13.00 to $11.00 in a report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. CalAmp has an average rating of “Hold” and an average target price of $19.38.
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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