Kornitzer Capital Management Inc. KS decreased its position in CalAmp Corp. (NASDAQ:CAMP) by 5.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,500 shares of the company’s stock after selling 6,700 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in CalAmp Corp. were worth $1,873,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Falcon Point Capital LLC raised its position in shares of CalAmp Corp. by 12.2% in the second quarter. Falcon Point Capital LLC now owns 1,112,201 shares of the company’s stock worth $16,472,000 after buying an additional 121,331 shares in the last quarter. Independent Portfolio Consultants Inc. raised its position in shares of CalAmp Corp. by 58.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 28,810 shares of the company’s stock worth $427,000 after buying an additional 10,650 shares in the last quarter. Prudential Financial Inc. raised its position in shares of CalAmp Corp. by 13.4% in the first quarter. Prudential Financial Inc. now owns 127,077 shares of the company’s stock worth $2,278,000 after buying an additional 15,017 shares in the last quarter. Aristotle Capital Boston LLC bought a new position in shares of CalAmp Corp. during the first quarter worth $770,000. Finally, Rice Hall James & Associates LLC raised its position in shares of CalAmp Corp. by 1.4% in the second quarter. Rice Hall James & Associates LLC now owns 384,891 shares of the company’s stock worth $5,700,000 after buying an additional 5,426 shares in the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.
CalAmp Corp. (NASDAQ:CAMP) traded up 0.68% on Wednesday, hitting $13.32. 481,571 shares of the stock were exchanged. CalAmp Corp. has a 52-week low of $13.01 and a 52-week high of $21.35. The stock’s 50 day moving average price is $14.84 and its 200 day moving average price is $14.98. The firm has a market cap of $483.94 million, a PE ratio of 69.02 and a beta of 1.27.
CalAmp Corp. (NASDAQ:CAMP) last released its quarterly earnings results on Thursday, September 29th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. CalAmp Corp. had a net margin of 2.21% and a return on equity of 21.17%. The firm had revenue of $90.50 million for the quarter. During the same period in the prior year, the business posted $0.27 EPS. CalAmp Corp.’s revenue was up 29.6% compared to the same quarter last year. Equities research analysts forecast that CalAmp Corp. will post $1.11 earnings per share for the current year.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of CalAmp Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 5th. Canaccord Genuity reaffirmed a “buy” rating and set a $25.00 price target on shares of CalAmp Corp. in a research note on Sunday, October 2nd. Aegis downgraded shares of CalAmp Corp. from a “buy” rating to a “hold” rating in a research note on Monday, October 3rd. Craig Hallum reaffirmed a “buy” rating and set a $20.00 price target (down previously from $21.00) on shares of CalAmp Corp. in a research note on Wednesday, June 29th. Finally, First Analysis downgraded shares of CalAmp Corp. from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $19.00 to $16.00 in a research note on Friday, September 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. CalAmp Corp. currently has an average rating of “Buy” and a consensus price target of $21.56.
In related news, VP Richard K. Vitelle sold 15,000 shares of CalAmp Corp. stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $15.00, for a total value of $225,000.00. Following the sale, the vice president now owns 304,409 shares of the company’s stock, valued at approximately $4,566,135. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.00% of the stock is currently owned by corporate insiders.
CalAmp Corp. Company Profile
CalAmp Corp. (CalAmp) is a provider of wireless communications solutions for a range of applications to customers globally. The Company operates through two business segments: Wireless DataCom and Satellite. The Company’s Wireless DataCom segment offers solutions for mobile resource management (MRM) applications, the machine-to-machine (M2M) communications space and other markets that require connectivity anytime and anywhere.
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