CSP Inc. (NASDAQ:CSPI) Sees Significant Decrease in Short Interest

CSP Inc. (NASDAQ:CSPI) was the target of a large drop in short interest in June. As of June 15th, there was short interest totalling 376,900 shares, a drop of 7.2% from the May 31st total of 406,000 shares. Based on an average daily volume of 76,800 shares, the days-to-cover ratio is currently 4.9 days.

CSP Trading Up 2.6 %

CSP stock traded up $0.39 on Tuesday, reaching $15.60. 44,686 shares of the stock were exchanged, compared to its average volume of 123,158. CSP has a twelve month low of $4.91 and a twelve month high of $29.92. The firm has a fifty day moving average price of $14.10 and a two-hundred day moving average price of $14.98. The stock has a market cap of $152.10 million, a PE ratio of 27.86 and a beta of 1.38.

CSP (NASDAQ:CSPI) last posted its quarterly earnings data on Wednesday, May 8th. The information technology services provider reported $0.16 earnings per share for the quarter. CSP had a return on equity of 10.99% and a net margin of 8.18%. The business had revenue of $13.71 million during the quarter.

CSP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.77%. This is a boost from CSP’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, May 23rd. CSP’s dividend payout ratio is currently 21.43%.

Insider Activity

In other CSP news, major shareholder Joseph R. Nerges acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of $14.02 per share, for a total transaction of $28,040.00. Following the completion of the acquisition, the insider now owns 1,360,402 shares of the company’s stock, valued at approximately $19,072,836.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Joseph R. Nerges purchased 2,810 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were bought at an average price of $14.20 per share, with a total value of $39,902.00. Following the completion of the transaction, the insider now directly owns 1,350,402 shares in the company, valued at approximately $19,175,708.40. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Joseph R. Nerges acquired 2,000 shares of CSP stock in a transaction dated Friday, June 14th. The stock was purchased at an average price of $14.02 per share, with a total value of $28,040.00. Following the completion of the purchase, the insider now directly owns 1,360,402 shares of the company’s stock, valued at approximately $19,072,836.04. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 14,652 shares of company stock worth $206,757. 16.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CSP

Institutional investors and hedge funds have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC bought a new stake in CSP in the 1st quarter valued at $276,000. Navellier & Associates Inc. raised its position in shares of CSP by 53.4% during the fourth quarter. Navellier & Associates Inc. now owns 32,204 shares of the information technology services provider’s stock valued at $628,000 after buying an additional 11,215 shares during the last quarter. Visionary Wealth Advisors lifted its stake in shares of CSP by 3.3% in the fourth quarter. Visionary Wealth Advisors now owns 293,403 shares of the information technology services provider’s stock valued at $5,868,000 after buying an additional 9,363 shares during the period. Finally, Vanguard Group Inc. grew its position in CSP by 102.4% during the first quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock worth $7,561,000 after buying an additional 207,253 shares in the last quarter. Institutional investors own 26.74% of the company’s stock.

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.