StockNews.com Begins Coverage on CalAmp (NASDAQ:CAMP)

StockNews.com began coverage on shares of CalAmp (NASDAQ:CAMP – Get Rating) in a research report released on Thursday morning. The firm issued a hold rating on the Wireless communications provider’s stock.

CalAmp Trading Down 2.5 %

Shares of NASDAQ:CAMP opened at $3.09 on Thursday. CalAmp has a 12-month low of $2.91 and a 12-month high of $7.62. The business has a 50 day moving average of $4.44 and a 200-day moving average of $4.16. The company has a debt-to-equity ratio of 12.15, a quick ratio of 1.47 and a current ratio of 1.68.

CalAmp (NASDAQ:CAMP – Get Rating) last issued its quarterly earnings data on Tuesday, December 20th. The Wireless communications provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. CalAmp had a negative return on equity of 40.90% and a negative net margin of 11.79%. The company had revenue of $78.89 million during the quarter, compared to analysts’ expectations of $74.65 million. On average, equities analysts predict that CalAmp will post -0.39 earnings per share for the current year.

Insider Activity at CalAmp

In related news, Director Wes Cummins purchased 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 27th. The stock was acquired at an average cost of $4.00 per share, for a total transaction of $160,000.00. Following the completion of the purchase, the director now owns 3,299,059 shares in the company, valued at approximately $13,196,236. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders purchased 110,000 shares of company stock worth $465,850. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On CalAmp

Several institutional investors have recently made changes to their positions in CAMP. Bank of New York Mellon Corp boosted its stake in shares of CalAmp by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 357,534 shares of the Wireless communications provider’s stock valued at $2,614,000 after buying an additional 11,828 shares during the period. MetLife Investment Management LLC raised its position in CalAmp by 55.4% during the first quarter. MetLife Investment Management LLC now owns 19,506 shares of the Wireless communications provider’s stock valued at $143,000 after purchasing an additional 6,955 shares in the last quarter. Rhumbline Advisers raised its position in CalAmp by 8.2% during the first quarter. Rhumbline Advisers now owns 99,630 shares of the Wireless communications provider’s stock valued at $728,000 after purchasing an additional 7,546 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in CalAmp by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,953 shares of the Wireless communications provider’s stock valued at $226,000 after purchasing an additional 3,833 shares in the last quarter. Finally, BlackRock Inc. raised its position in CalAmp by 0.4% during the first quarter. BlackRock Inc. now owns 5,530,984 shares of the Wireless communications provider’s stock valued at $40,431,000 after purchasing an additional 20,623 shares in the last quarter. 75.52% of the stock is currently owned by institutional investors.

CalAmp Company Profile

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CalAmp Corp. engages in delivering of wireless access and computer technologies. It provides Internet of Things (IoT) enablement solutions for a broad array of mobile and fixed applications serving multiple vertical markets worldwide. It offers solutions for mobile resource management and applications for the broader IoT market, enabling customers to optimize their operations by collecting, monitoring and efficiently reporting business-critical data and desired intelligence from high-value remote and often mobile assets.