StockNews.com Downgrades CSP (NASDAQ:CSPI) to Hold

CSP (NASDAQ:CSPI) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

CSP Stock Down 1.1 %

NASDAQ CSPI opened at $14.20 on Tuesday. CSP has a 52 week low of $6.80 and a 52 week high of $29.92. The firm has a 50 day moving average of $14.76 and a two-hundred day moving average of $16.04. The stock has a market capitalization of $138.51 million, a PE ratio of 25.36 and a beta of 1.38.

Insider Buying and Selling

In related news, major shareholder Joseph R. Nerges purchased 2,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were bought at an average cost of $14.38 per share, for a total transaction of $28,760.00. Following the completion of the purchase, the insider now directly owns 1,371,326 shares of the company’s stock, valued at approximately $19,719,667.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Joseph R. Nerges bought 2,200 shares of the stock in a transaction on Friday, May 31st. The shares were bought at an average cost of $14.21 per share, for a total transaction of $31,262.00. Following the purchase, the insider now owns 1,352,602 shares of the company’s stock, valued at approximately $19,220,474.42. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Joseph R. Nerges acquired 2,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was purchased at an average price of $14.38 per share, for a total transaction of $28,760.00. Following the completion of the transaction, the insider now owns 1,371,326 shares in the company, valued at $19,719,667.88. The disclosure for this purchase can be found here. Insiders acquired a total of 17,252 shares of company stock worth $242,193 over the last 90 days. 16.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in CSP by 3.7% in the 2nd quarter. Renaissance Technologies LLC now owns 442,226 shares of the information technology services provider’s stock valued at $6,589,000 after purchasing an additional 15,800 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 acquiring an additional 207,253 shares during the period. Visionary Wealth Advisors grew its holdings in CSP by 3.3% during the fourth quarter. Visionary Wealth Advisors now owns 293,403 shares of the information technology services provider’s stock worth $5,868,000 after acquiring an additional 9,363 shares during the period. Mercer Global Advisors Inc. ADV raised its position in CSP by 122.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 197,556 shares of the information technology services provider’s stock worth $2,944,000 after acquiring an additional 108,778 shares in the last quarter. Finally, Apis Capital Advisors LLC lifted its holdings in CSP by 50.0% in the second quarter. Apis Capital Advisors LLC now owns 36,000 shares of the information technology services provider’s stock valued at $536,000 after acquiring an additional 12,000 shares during the period. 26.74% of the stock is owned by hedge funds and other institutional investors.

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.