Geode Capital Management LLC Increases Stake in CalAmp Corp. (NASDAQ:CAMP)

Geode Capital Management LLC boosted its stake in CalAmp Corp. (NASDAQ:CAMP) by 12.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 298,168 shares of the Wireless communications provider’s stock after buying an additional 32,906 shares during the period. Geode Capital Management LLC owned about 0.85% of CalAmp Corp. worth $5,006,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Karp Capital Management Corp purchased a new stake in CalAmp Corp. during the first quarter valued at approximately $176,000. UBS Asset Management Americas Inc. purchased a new stake in CalAmp Corp. during the first quarter valued at approximately $193,000. Comerica Bank raised its stake in CalAmp Corp. by 2.5% in the first quarter. Comerica Bank now owns 39,553 shares of the Wireless communications provider’s stock valued at $711,000 after buying an additional 946 shares during the period. Bbva Compass Bancshares Inc. raised its stake in CalAmp Corp. by 12.0% in the first quarter. Bbva Compass Bancshares Inc. now owns 22,937 shares of the Wireless communications provider’s stock valued at $385,000 after buying an additional 2,465 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in CalAmp Corp. by 8.9% in the first quarter. Russell Investments Group Ltd. now owns 555,156 shares of the Wireless communications provider’s stock valued at $9,321,000 after buying an additional 45,294 shares during the period. Institutional investors own 73.80% of the company’s stock.

CalAmp Corp. (CAMP) traded down 0.55% during midday trading on Friday, hitting $17.99. The stock had a trading volume of 242,923 shares. CalAmp Corp. has a 12-month low of $12.13 and a 12-month high of $20.89. The firm’s market cap is $636.77 million. The stock has a 50-day moving average price of $19.37 and a 200 day moving average price of $17.77.

CalAmp Corp. (NASDAQ:CAMP) last issued its quarterly earnings data on Tuesday, June 27th. The Wireless communications provider reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. CalAmp Corp. had a negative net margin of 2.05% and a positive return on equity of 18.84%. The business had revenue of $88.10 million during the quarter, compared to analysts’ expectations of $86.85 million. During the same period last year, the company posted $0.30 EPS. The company’s revenue was down 3.3% on a year-over-year basis. On average, equities analysts anticipate that CalAmp Corp. will post $1.17 earnings per share for the current fiscal year.

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Several equities research analysts have commented on the company. B. Riley reiterated a “buy” rating and set a $28.00 price objective on shares of CalAmp Corp. in a research note on Saturday, July 1st. Northland Securities reiterated a “buy” rating and set a $20.00 price objective on shares of CalAmp Corp. in a research note on Monday, June 26th. Craig Hallum boosted their price objective on CalAmp Corp. from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, June 28th. BidaskClub lowered CalAmp Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Zacks Investment Research lowered CalAmp Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $20.88.

In other news, SVP Garo Sarkis Sarkissian sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $18.83, for a total transaction of $282,450.00. Following the completion of the transaction, the senior vice president now directly owns 200,680 shares of the company’s stock, valued at approximately $3,778,804.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Burdiek sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the chief executive officer now directly owns 479,093 shares of the company’s stock, valued at $9,581,860. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.

CalAmp Corp. Company Profile

CalAmp Corp. (CalAmp) is a provider of wireless communications solutions for a range of applications to customers globally. The Company operates through two business segments: Wireless DataCom and Satellite. The Company’s Wireless DataCom segment offers solutions for mobile resource management (MRM) applications, the machine-to-machine (M2M) communications space and other markets that require connectivity anytime and anywhere.

Institutional Ownership by Quarter for CalAmp Corp. (NASDAQ:CAMP)

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