Millrace Asset Group buys $2.3 Million stake in CalAmp Corp. (CAMP)

CalAmp Corp. (CAMP) : Millrace Asset Group scooped up 25,000 additional shares in CalAmp Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 157,944 shares of CalAmp Corp. which is valued at $2.3 Million.CalAmp Corp. makes up approximately 3.37% of Millrace Asset Group’s portfolio.

Other Hedge Funds, Including , Next Century Growth Investors reduced its stake in CAMP by selling 3,067 shares or 1.12% in the most recent quarter. The Hedge Fund company now holds 269,867 shares of CAMP which is valued at $3.9 Million. CalAmp Corp. makes up approx 0.19% of Next Century Growth Investors’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in CAMP in the latest quarter, The investment management firm added 3,643 additional shares and now holds a total of 935,991 shares of CalAmp Corp. which is valued at $13.6 Million.Tributary Capital Management boosted its stake in CAMP in the latest quarter, The investment management firm added 66,472 additional shares and now holds a total of 300,389 shares of CalAmp Corp. which is valued at $4.3 Million. CalAmp Corp. makes up approx 0.68% of Tributary Capital Management’s portfolio.

CalAmp Corp. opened for trading at $15.02 and hit $15.18 on the upside on Wednesday, eventually ending the session at $15.04, with a gain of 0.53% or 0.08 points. The heightened volatility saw the trading volume jump to 2,16,577 shares. Company has a market cap of $552 M.

On the company’s financial health, CalAmp Corp. reported $0.32 EPS for the quarter, based on the information available during the earnings call on Apr 19, 2016. Analyst had a consensus estimate of $0.32. The company had revenue of $70.80 million for the quarter, compared to analysts expectations of $71.05 million. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Many Wall Street Analysts have commented on CalAmp Corp.. CalAmp Corp. was Upgraded by Sidoti to ” Buy” on May 9, 2016. Shares were Reiterated by Craig Hallum on Apr 20, 2016 to “Buy” and Lowered the Price Target to $ 21 from a previous price target of $24 .CalAmp Corp. was Downgraded by Sidoti to ” Neutral” on Mar 22, 2016.

CalAmp Corp. (CalAmp) is a provider of wireless communications solutions for a range of applications to customers globally. The Company has 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. The Company’s MRM and M2M solutions collect monitor and report data and intelligence from remote and mobile assets. It delivers products software services and solutions for energy government transportation and automotive vertical markets. The Company’s Satellite segment develops manufactures and sells direct-broadcast satellite (DBS) outdoor customer premise equipment and whole home video networking devices providing the delivery of digital and high definition satellite television services.

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