CSP Inc. (NASDAQ:CSPI) Short Interest Up 9.9% in August

CSP Inc. (NASDAQ:CSPI) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 283,900 shares, a growth of 9.9% from the July 31st total of 258,300 shares. Based on an average daily volume of 44,600 shares, the short-interest ratio is currently 6.4 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut CSP from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th.

Insider Transactions at CSP

In other news, major shareholder Joseph R. Nerges acquired 2,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $14.02 per share, for a total transaction of $28,040.00. Following the completion of the transaction, the insider now owns 1,360,402 shares of the company’s stock, valued at $19,072,836.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have bought 9,742 shares of company stock worth $135,279. Insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Navellier & Associates Inc. lifted its stake in shares of CSP by 53.4% in the 4th quarter. Navellier & Associates Inc. now owns 32,204 shares of the information technology services provider’s stock valued at $628,000 after purchasing an additional 11,215 shares during the period. Visionary Wealth Advisors lifted its position 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 valued at $5,868,000 after buying an additional 9,363 shares during the period. Vanguard Group Inc. boosted its holdings in shares of CSP by 102.4% during the 1st quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock valued at $7,561,000 after buying an additional 207,253 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of CSP in the 1st quarter worth about $276,000. Finally, American Century Companies Inc. bought a new position in shares of CSP in the 2nd quarter worth about $503,000. Hedge funds and other institutional investors own 26.74% of the company’s stock.

CSP Stock Down 2.4 %

Shares of NASDAQ:CSPI traded down $0.34 on Tuesday, hitting $13.56. The company had a trading volume of 24,894 shares, compared to its average volume of 103,139. The firm’s 50-day simple moving average is $14.74 and its two-hundred day simple moving average is $16.11. The firm has a market capitalization of $132.26 million, a price-to-earnings ratio of 24.21 and a beta of 1.38. CSP has a 1 year low of $7.70 and a 1 year high of $29.92.

CSP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 23rd will be issued a $0.03 dividend. The ex-dividend date is Friday, August 23rd. This represents a $0.12 annualized dividend and a yield of 0.88%. CSP’s dividend payout ratio (DPR) is presently 21.43%.

CSP Company Profile

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.