Martingale Asset Management L P reduced its stake in shares of CalAmp Corp. (NASDAQ:CAMP) by 36.2% in the 4th quarter, Holdings Channel reports. The firm owned 10,918 shares of the Wireless communications provider’s stock after selling 6,200 shares during the quarter. Martingale Asset Management L P’s holdings in CalAmp were worth $143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its stake in CalAmp by 4.6% during the 4th quarter. Arizona State Retirement System now owns 53,532 shares of the Wireless communications provider’s stock valued at $696,000 after purchasing an additional 2,352 shares during the last quarter. Group One Trading L.P. acquired a new position in CalAmp during the 4th quarter valued at $34,000. Legal & General Group Plc raised its stake in CalAmp by 5.8% during the 3rd quarter. Legal & General Group Plc now owns 75,019 shares of the Wireless communications provider’s stock valued at $1,755,000 after purchasing an additional 4,081 shares during the last quarter. Bessemer Group Inc. acquired a new position in CalAmp during the 3rd quarter valued at $101,000. Finally, Pacer Advisors Inc. raised its stake in CalAmp by 242.0% during the 3rd quarter. Pacer Advisors Inc. now owns 7,990 shares of the Wireless communications provider’s stock valued at $191,000 after purchasing an additional 5,654 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.
CAMP has been the subject of several research analyst reports. B. Riley reiterated a “buy” rating and set a $28.00 target price (down from $32.00) on shares of CalAmp in a research note on Friday, December 14th. Canaccord Genuity dropped their price objective on shares of CalAmp from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, December 21st. Craig Hallum upgraded shares of CalAmp from a “hold” rating to a “buy” rating and dropped their price objective for the company from $25.00 to $17.00 in a research note on Friday, December 21st. Zacks Investment Research upgraded shares of CalAmp from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Wednesday, February 20th. Finally, TheStreet cut shares of CalAmp from a “c” rating to a “d+” rating in a research note on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. CalAmp presently has an average rating of “Hold” and a consensus target price of $21.44.
CalAmp (NASDAQ:CAMP) last announced its quarterly earnings data on Thursday, December 20th. The Wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. CalAmp had a net margin of 0.63% and a return on equity of 15.40%. The company had revenue of $88.50 million during the quarter, compared to analysts’ expectations of $88.26 million. During the same quarter in the prior year, the company posted $0.31 EPS. The business’s revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts forecast that CalAmp Corp. will post 0.8 earnings per share for the current year.
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CalAmp Corp. provides in telematics systems, and software and subscription services worldwide. The company provides 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.
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