CSP Inc. (NASDAQ:CSPI) Sees Significant Decrease in Short Interest

CSP Inc. (NASDAQ:CSPIGet Free Report) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 376,900 shares, a drop of 7.2% from the May 31st total of 406,000 shares. Based on an average trading volume of 76,800 shares, the short-interest ratio is presently 4.9 days.

Insider Activity

In related news, major shareholder Joseph R. Nerges purchased 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were bought at an average price of $14.02 per share, for a total transaction of $28,040.00. Following the acquisition, the insider now directly owns 1,360,402 shares in the company, valued at $19,072,836.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Joseph R. Nerges acquired 2,200 shares of CSP stock in a transaction dated Friday, May 31st. The shares were acquired at an average cost of $14.21 per share, for a total transaction of $31,262.00. Following the acquisition, the insider now owns 1,352,602 shares of the company’s stock, valued at $19,220,474.42. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Joseph R. Nerges bought 2,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average price of $14.02 per share, with a total value of $28,040.00. Following the purchase, the insider now owns 1,360,402 shares of the company’s stock, valued at approximately $19,072,836.04. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 14,652 shares of company stock worth $206,757. Corporate insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CSPI. Vanguard Group Inc. lifted its position in CSP by 102.4% in the first quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock valued at $7,561,000 after acquiring an additional 207,253 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of CSP during the first quarter worth about $276,000. Navellier & Associates Inc. lifted its holdings in shares of CSP by 53.4% in the 4th quarter. Navellier & Associates Inc. now owns 32,204 shares of the information technology services provider’s stock valued at $628,000 after purchasing an additional 11,215 shares during the last quarter. Finally, Visionary Wealth Advisors boosted its position in shares of CSP by 3.3% in the 4th quarter. Visionary Wealth Advisors now owns 293,403 shares of the information technology services provider’s stock valued at $5,868,000 after purchasing an additional 9,363 shares during the period. 26.74% of the stock is owned by hedge funds and other institutional investors.

CSP Stock Down 2.8 %

CSP stock traded down $0.43 during midday trading on Wednesday, reaching $15.17. The company’s stock had a trading volume of 17,478 shares, compared to its average volume of 122,325. The business has a 50-day simple moving average of $14.12 and a 200-day simple moving average of $14.98. The company has a market cap of $147.91 million, a P/E ratio of 27.09 and a beta of 1.38. CSP has a fifty-two week low of $4.91 and a fifty-two week high of $29.92.

CSP (NASDAQ:CSPIGet Free Report) last issued its earnings results on Wednesday, May 8th. The information technology services provider reported $0.16 earnings per share for the quarter. The business had revenue of $13.71 million for the quarter. CSP had a return on equity of 10.99% and a net margin of 8.18%.

CSP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Thursday, May 23rd. This is an increase from CSP’s previous quarterly dividend of $0.03. CSP’s payout ratio is currently 21.43%.

CSP Company Profile

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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.

Further Reading

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