CalAmp Corp. (NASDAQ:CAMP) Sees Large Growth in Short Interest
CalAmp Corp. (NASDAQ:CAMP) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 2,358,100 shares, an increase of 7.7% from the June 15th total of 2,190,100 shares. Based on an average daily trading volume, of 417,600 shares, the days-to-cover ratio is presently 5.6 days. Approximately 7.2% of the company’s shares are short sold.
CAMP stock traded up $0.38 during midday trading on Friday, reaching $11.47. The company had a trading volume of 237,399 shares, compared to its average volume of 539,936. The company has a quick ratio of 1.40, a current ratio of 1.60 and a debt-to-equity ratio of 1.01. CalAmp has a 1 year low of $9.95 and a 1 year high of $24.37. The company has a market cap of $385.74 million, a P/E ratio of 16.39, a P/E/G ratio of 3.25 and a beta of 2.03. The company’s 50-day moving average is $10.83.
CalAmp (NASDAQ:CAMP) last released its quarterly earnings results on Thursday, June 27th. The Wireless communications provider reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.18). The company had revenue of $89.10 million during the quarter, compared to analysts’ expectations of $86.91 million. CalAmp had a return on equity of 11.85% and a net margin of 0.33%. CalAmp’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 EPS. As a group, analysts anticipate that CalAmp will post 0.36 EPS for the current fiscal year.
In other news, Director Larry J. Wolfe acquired 50,000 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was bought at an average cost of $11.33 per share, for a total transaction of $566,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Royce & Associates LP bought a new stake in CalAmp during the 1st quarter valued at $26,000. Quantamental Technologies LLC bought a new stake in CalAmp during the 1st quarter valued at $70,000. Metropolitan Life Insurance Co. NY raised its holdings in CalAmp by 423.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,925 shares of the Wireless communications provider’s stock valued at $155,000 after buying an additional 9,648 shares during the last quarter. Bbva Compass Bancshares Inc. raised its holdings in CalAmp by 9.3% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 14,769 shares of the Wireless communications provider’s stock valued at $186,000 after buying an additional 1,260 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new position in CalAmp in the 4th quarter worth $449,000. Hedge funds and other institutional investors own 79.27% of the company’s stock.
CalAmp Company Profile
CalAmp Corp. provides in telematics systems, and software and subscription services in the United States, Latin America, Western Europe, Asia Pacific, the Middle East, Africa, and internationally. The company offers mobile resource management telematics devices for the Internet of Things market, which enable customers to optimize their operations by collecting, monitoring, and reporting business-critical information and desired intelligence from remote and mobile assets.
See Also: Book Value Per Share – BVPS
Receive News & Ratings for CalAmp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CalAmp and related companies with MarketBeat.com's FREE daily email newsletter.