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

CSP Inc. (NASDAQ:CSPI) Director Stephen Webber bought 2,500 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $9.48 per share, with a total value of $23,700.00. Following the completion of the purchase, the director owned 12,500 shares of the company’s stock, valued at approximately $118,500. This trade represents a 25.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

CSP Trading Up 4.0%

NASDAQ:CSPI opened at $9.65 on Friday. CSP Inc. has a 1 year low of $7.55 and a 1 year high of $16.59. The stock has a market cap of $97.18 million, a price-to-earnings ratio of -965.00 and a beta of 0.80. The stock has a 50-day moving average price of $8.91 and a two-hundred day moving average price of $10.65.

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

CSP Announces Dividend

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 paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 21st. CSP’s payout ratio is presently -1,200.00%.

Institutional Trading of CSP

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of CSP by 3,943.3% in the second quarter. Bank of America Corp DE now owns 2,426 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 2,366 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of CSP in the second quarter valued at about $49,000. Raymond James Financial Inc. bought a new stake in shares of CSP in the second quarter valued at about $91,000. Wells Fargo & Company MN raised its holdings in CSP by 72.6% during the fourth quarter. Wells Fargo & Company MN now owns 7,618 shares of the information technology services provider’s stock worth $95,000 after acquiring an additional 3,204 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in CSP during the second quarter worth about $122,000. 26.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wall Street Zen cut CSP from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Weiss Ratings upgraded CSP from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

About CSP

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.