CalAmp (NASDAQ:CAMP) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

CalAmp (NASDAQ:CAMPGet Rating) posted its quarterly earnings results on Thursday. The Wireless communications provider reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02, Briefing.com reports. The firm had revenue of $72.80 million for the quarter, compared to analyst estimates of $69.27 million. CalAmp had a negative net margin of 13.60% and a negative return on equity of 20.41%. CalAmp’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share.

CalAmp Trading Down 1.8 %

CAMP opened at $4.87 on Friday. The firm has a market capitalization of $176.10 million, a P/E ratio of -4.51 and a beta of 2.24. The firm’s 50 day moving average is $5.19 and its 200-day moving average is $5.79. The company has a quick ratio of 1.74, a current ratio of 1.97 and a debt-to-equity ratio of 7.94. CalAmp has a 52-week low of $3.90 and a 52-week high of $10.68.

Wall Street Analyst Weigh In

CAMP has been the subject of several recent research reports. StockNews.com lowered shares of CalAmp from a “hold” rating to a “sell” rating in a research report on Monday, June 27th. Craig Hallum raised CalAmp from a “hold” rating to a “buy” rating and raised their price objective for the company from $8.00 to $10.00 in a research report on Tuesday, August 16th.

Insider Activity at CalAmp

In other news, CEO Jeffery R. Gardner acquired 20,000 shares of the business’s stock in a transaction on Tuesday, June 28th. The shares were purchased at an average price of $4.83 per share, for a total transaction of $96,600.00. Following the acquisition, the chief executive officer now directly owns 313,683 shares of the company’s stock, valued at approximately $1,515,088.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other CalAmp news, CEO Jeffery R. Gardner acquired 20,000 shares of the company’s stock in a transaction on Tuesday, June 28th. The shares were bought at an average cost of $4.83 per share, for a total transaction of $96,600.00. Following the acquisition, the chief executive officer now directly owns 313,683 shares of the company’s stock, valued at $1,515,088.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director B. Riley Asset Management, Llc bought 106,900 shares of the business’s stock in a transaction on Thursday, June 30th. The stock was acquired at an average cost of $4.14 per share, for a total transaction of $442,566.00. Following the completion of the transaction, the director now owns 1,707,365 shares in the company, valued at $7,068,491.10. The disclosure for this purchase can be found here. In the last three months, insiders bought 467,487 shares of company stock valued at $2,002,521. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On CalAmp

Several large investors have recently modified their holdings of the stock. Worth Venture Partners LLC acquired a new stake in CalAmp during the first quarter valued at approximately $3,221,000. Bank of New York Mellon Corp raised its position in shares of CalAmp by 3.4% during the 1st 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 acquiring an additional 11,828 shares in the last quarter. Sei Investments Co. lifted its stake in CalAmp by 7.6% during the second quarter. Sei Investments Co. now owns 488,706 shares of the Wireless communications provider’s stock worth $2,038,000 after purchasing an additional 34,386 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in CalAmp in the first quarter worth $1,994,000. Finally, Invesco Ltd. increased its stake in CalAmp by 13.4% during the first quarter. Invesco Ltd. now owns 265,321 shares of the Wireless communications provider’s stock valued at $1,940,000 after purchasing an additional 31,314 shares during the last quarter. Institutional investors own 88.58% of the company’s stock.

CalAmp Company Profile

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CalAmp Corp., a connected intelligence company, provides leverages a data-driven solutions ecosystem to people and organizations in the United States, Europe, the Middle East, Africa, Latin America, the Asia-Pacific, and internationally. The company operates in two segments, Software & Subscription Services and Telematics Products.

Further Reading

Earnings History for CalAmp (NASDAQ:CAMP)

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