Stephen Webber Acquires 2,500 Shares of CSP (NASDAQ:CSPI) Stock

Key Points

  • Director Stephen Webber bought 2,500 shares of CSP Inc. at $9.48 each, a $23,700 transaction that boosted his direct holdings to 12,500 shares, or a 25% increase in ownership.
  • CSP stock rose 1.3% and opened at $9.28, with the company carrying a market cap of about $93.5 million and trading below its 200-day moving average.
  • The company recently reported Q1 EPS of $0.03 on revenue of $16.01 million and also announced a quarterly dividend of $0.03 per share, equal to a 1.3% annualized yield.

CSP Inc. (NASDAQ:CSPI - Get Free Report) Director Stephen Webber bought 2,500 shares of CSP stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $9.48 per share, for a total transaction of $23,700.00. Following the transaction, the director directly owned 12,500 shares of the company's stock, valued at approximately $118,500. This trade represents a 25.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

CSP Stock Up 1.3%

NASDAQ:CSPI opened at $9.28 on Thursday. CSP Inc. has a 52 week low of $7.55 and a 52 week high of $16.98. The company has a market capitalization of $93.47 million, a P/E ratio of -928.00 and a beta of 0.80. The stock's fifty day moving average is $8.89 and its two-hundred day moving average is $10.67.

CSP (NASDAQ:CSPI - Get Free Report) last posted its earnings results on Thursday, May 7th. The information technology services provider reported $0.03 EPS for the quarter. CSP had a negative return on equity of 0.25% and a negative net margin of 0.20%.The company had revenue of $16.01 million for the quarter.

CSP Dividend Announcement




The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, May 21st will be given a $0.03 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.12 dividend on an annualized basis and a yield of 1.3%. CSP's payout ratio is currently -1,200.00%.

Institutional Investors Weigh In On CSP

Several institutional investors and hedge funds have recently modified their holdings of the company. Visionary Wealth Advisors grew its stake in CSP by 2.4% during the 4th quarter. Visionary Wealth Advisors now owns 764,888 shares of the information technology services provider's stock worth $9,561,000 after purchasing an additional 17,728 shares in the last quarter. Geode Capital Management LLC grew its stake in CSP by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 163,385 shares of the information technology services provider's stock worth $2,043,000 after purchasing an additional 2,739 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in CSP by 100.2% during the 4th quarter. Segall Bryant & Hamill LLC now owns 38,448 shares of the information technology services provider's stock worth $481,000 after purchasing an additional 19,244 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in CSP by 66.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 29,800 shares of the information technology services provider's stock worth $457,000 after purchasing an additional 11,850 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in CSP by 73.4% during the 1st quarter. Jane Street Group LLC now owns 27,640 shares of the information technology services provider's stock worth $424,000 after purchasing an additional 11,703 shares in the last quarter. Hedge funds and other institutional investors own 26.74% of the company's stock.

Analysts Set New Price Targets

CSPI has been the topic of a number of research analyst reports. Weiss Ratings upgraded CSP from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday. Wall Street Zen downgraded CSP from a "hold" rating to a "sell" rating in a report on Saturday, February 14th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of "Sell".

View Our Latest Report on CSPI

CSP Company Profile

(Get Free Report)

CSP Inc develops and markets IT integration solutions, security products, managed IT services, cloud services, purpose-built network adapters, and cluster computer systems for commercial and defense customers worldwide. It operates in two segments, Technology Solutions and High Performance Products. The Technology Solutions segment provides third-party computer hardware and software as a value-added reseller to various customers in web and infrastructure hosting, education, telecommunications, healthcare services, distribution, financial and professional services, and manufacturing industries.

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