Today’s Market Runner: Is Selling Stock Like CalAmp Corp. After Such Decline Winning Strategy?

Today's Market Runner: Is Selling Stock Like CalAmp Corp. After Such Decline Winning Strategy?

The stock of CalAmp Corp. (NASDAQ:CAMP) is a huge mover today! The stock decreased 14.99% or $2.46 during the last trading session, hitting $13.95. About 6.76 million shares traded hands or 1901.92% up from the average. CalAmp Corp. (NASDAQ:CAMP) has declined 7.34% since February 26, 2016 and is downtrending. It has underperformed by 17.77% the S&P500.
The move comes after 7 months negative chart setup for the $509.87 million company. It was reported on Oct, 1 by Barchart.com. We have $13.11 PT which if reached, will make NASDAQ:CAMP worth $30.59 million less.

Analysts await CalAmp Corp. (NASDAQ:CAMP) to report earnings on October, 6. They expect $0.21 earnings per share, down 16.00% or $0.04 from last year’s $0.25 per share. CAMP’s profit will be $7.68 million for 16.61 P/E if the $0.21 EPS becomes a reality. After $0.27 actual earnings per share reported by CalAmp Corp. for the previous quarter, Wall Street now forecasts -22.22% negative EPS growth.

CalAmp Corp. (NASDAQ:CAMP) Ratings Coverage

Out of 7 analysts covering CalAmp (NASDAQ:CAMP), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. CalAmp has been the topic of 9 analyst reports since December 7, 2015 according to StockzIntelligence Inc. As per Wednesday, June 29, the company rating was maintained by Craig Hallum. As per Monday, December 7, the company rating was initiated by Chardan Capital Markets. First Analysis maintained the stock with “Overweight” rating in Monday, August 15 report. Canaccord Genuity maintained it with “Buy” rating and $27.0 target price in Wednesday, December 23 report. The rating was downgraded by First Analysis to “Equal-Weight” on Friday, September 30. The firm has “Neutral” rating by Sidoti given on Tuesday, March 22. On Wednesday, April 20 the stock rating was downgraded by William Blair to “Market Perform”. On Monday, May 9 the stock rating was upgraded by Sidoti to “Buy”. The rating was maintained by Northland Capital on Tuesday, March 22 with “Outperform”.

According to Zacks Investment Research, “CalAmp Corp. is a leading provider of wireless communications products that enable anytime/anywhere access to critical information, data and entertainment content. With comprehensive capabilities ranging from product design and development through volume production, CalAmp delivers cost-effective high quality solutions to a broad array of customers and end markets. CalAmp is the leading supplier of Direct Broadcast Satellite outdoor customer premise equipment to the U.S. satellite television market. The Company also provides wireless data communication solutions for the telemetry and asset tracking markets, private wireless networks, public safety communications and critical infrastructure and process control applications.”

Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.31, from 1.31 in 2016Q1. The ratio is negative, as 23 funds sold all CalAmp Corp. shares owned while 46 reduced positions. 21 funds bought stakes while 48 increased positions. They now own 22.80 million shares or 12.80% less from 26.15 million shares in 2016Q1.
Pinebridge Investments L P owns 4,636 shares or 0% of their US portfolio. Kornitzer Mgmt Ks has invested 0.03% of its portfolio in CalAmp Corp. (NASDAQ:CAMP). American Int Gp Inc Inc holds 26,771 shares or 0% of its portfolio. Susquehanna Gp Llp reported 30,137 shares or 0% of all its holdings. Manufacturers Life Ins Com The last reported 0% of its portfolio in the stock. Ladenburg Thalmann Finance Ser holds 11,048 shares or 0% of its portfolio. Comerica Bank & Trust holds 0% of its portfolio in CalAmp Corp. (NASDAQ:CAMP) for 36,507 shares. Sector Pension Investment Board, a Quebec – Canada-based fund reported 25,062 shares. Creative Planning holds 0% of its portfolio in CalAmp Corp. (NASDAQ:CAMP) for 4,637 shares. Moreover, Dimensional Fund Advisors Lp has 0.01% invested in CalAmp Corp. (NASDAQ:CAMP) for 1.40 million shares. Swiss Fincl Bank, a Switzerland-based fund reported 59,500 shares. Mutual Of America Mgmt Ltd Liability owns 387,224 shares or 0.12% of their US portfolio. Baker Avenue Asset Management L P owns 21,120 shares or 0.05% of their US portfolio. Geode Mgmt Ltd Liability last reported 269,001 shares in the company. Citigroup last reported 18,430 shares in the company.

Insider Transactions: Since March 31, 2016, the stock had 1 buying transaction, and 5 selling transactions for $681,261 net activity. 7,500 shares were sold by VITELLE RICHARD K, worth $115,125. On Wednesday, July 6 the insider GARDNER JEFFERY R bought $14,110.

More notable recent CalAmp Corp. (NASDAQ:CAMP) news were published by: Fool.com which released: “Why CalAmp Corp. Stock Plunged Today” on September 30, 2016, also Investorplace.com with their article: “Why CalAmp Corp. (CAMP), Cognizant Technology Solutions Corp (CTSH) and Wynn …” published on September 30, 2016, Wsj.com published: “CalAmp Shares Fall as Profit Slips” on September 29, 2016. More interesting news about CalAmp Corp. (NASDAQ:CAMP) were released by: Benzinga.com and their article: “Must Watch Stocks for September 30, 2016” published on September 30, 2016 as well as Benzinga.com‘s news article titled: “4 After-Hours Movers: Earnings, Strategic Reviews & Offerings Shaking Stocks” with publication date: September 29, 2016.

CAMP Company Profile

CalAmp Corp. (CalAmp), incorporated on September 8, 1987, is a well-known provider of wireless communications solutions for a range of applications to clients globally. The Firm operates through two business divisions: Wireless DataCom and Satellite. The Firm has facilities in various locations, including Carlsbad, California; Torrance, California; Herndon, Virginia; Waseca, Minnesota; Eden Prairie, Minnesota, and Auckland, New Zealand.

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