CSP (NASDAQ:CSPI) Director Buys $21,405.16 in Stock

CSP Inc. (NASDAQ:CSPI) Director Ismail Azeri bought 2,282 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $9.38 per share, for a total transaction of $21,405.16. Following the transaction, the director owned 108,272 shares in the company, valued at approximately $1,015,591.36. This represents a 2.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ismail Azeri also recently made the following trade(s):

• On Wednesday, May 13th, Ismail Azeri bought 218 shares of CSP stock. The shares were purchased at an average cost of $9.41 per share, for a total transaction of $2,051.38.

CSP Stock Down 3.6%

CSP stock opened at $9.30 on Friday. CSP Inc. has a 52 week low of $7.55 and a 52 week high of $15.94. The company’s 50 day moving average price is $8.91 and its two-hundred day moving average price is $10.64. The stock has a market cap of $93.67 million, a P/E ratio of -930.00 and a beta of 0.80.

CSP (NASDAQ:CSPI) last posted its earnings results on Thursday, May 7th. The information technology services provider reported $0.03 EPS for the quarter. CSP had a negative net margin of 0.20% and a negative return on equity of 0.25%. The firm had revenue of $16.01 million for the quarter.

CSP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, May 21st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.12 annualized dividend and a dividend yield of 1.3%. CSP’s dividend payout ratio (DPR) is currently -1,200.00%.

Wall Street Analyst Weigh In

Several research firms have commented on CSPI. Weiss Ratings raised shares of CSP from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Wall Street Zen cut shares of CSP from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Investors Weigh In On CSP

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in shares of CSP by 3,943.3% in the 2nd quarter. Bank of America Corp DE now owns 2,426 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 2,366 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of CSP in the 2nd quarter worth approximately $49,000. Raymond James Financial Inc. bought a new stake in shares of CSP in the 2nd quarter worth approximately $91,000. Wells Fargo & Company MN raised its holdings in shares of CSP by 72.6% in the 4th quarter. Wells Fargo & Company MN now owns 7,618 shares of the information technology services provider’s stock worth $95,000 after purchasing an additional 3,204 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in shares of CSP in the 2nd quarter worth approximately $122,000. 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.