Heritage Wealth Management LLC acquired a new stake in shares of Cambium Networks Co. (NASDAQ:CMBM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,178 shares of the company’s stock, valued at approximately $79,000.
Other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Cambium Networks by 14,450.0% in the second quarter. PNC Financial Services Group Inc. now owns 873 shares of the company’s stock valued at $42,000 after acquiring an additional 867 shares during the period. Koshinski Asset Management Inc. purchased a new stake in shares of Cambium Networks in the third quarter valued at $60,000. Legal & General Group Plc raised its stake in shares of Cambium Networks by 50.9% in the second quarter. Legal & General Group Plc now owns 1,325 shares of the company’s stock valued at $64,000 after acquiring an additional 447 shares during the period. Belpointe Asset Management LLC purchased a new stake in shares of Cambium Networks in the second quarter valued at $107,000. Finally, SG Americas Securities LLC purchased a new position in Cambium Networks in the 3rd quarter worth about $141,000. Institutional investors and hedge funds own 85.49% of the company’s stock.
Several research analysts recently commented on CMBM shares. JMP Securities reduced their price target on shares of Cambium Networks from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, October 22nd. Vertical Research downgraded shares of Cambium Networks from a “neutral” rating to a “sell” rating in a research note on Tuesday, October 12th. Barrington Research reduced their price target on shares of Cambium Networks from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 9th. Zacks Investment Research raised shares of Cambium Networks from a “strong sell” rating to a “hold” rating and set a $25.00 price target on the stock in a research note on Tuesday, December 21st. Finally, Northland Securities reduced their price target on shares of Cambium Networks from $64.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, October 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $53.63.
Cambium Networks (NASDAQ:CMBM) last released its earnings results on Thursday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. Cambium Networks had a net margin of 13.68% and a return on equity of 52.65%. The company had revenue of $75.90 million during the quarter, compared to analysts’ expectations of $75.10 million. During the same period last year, the business earned $0.21 EPS. Cambium Networks’s revenue for the quarter was up 110.2% on a year-over-year basis. On average, equities analysts expect that Cambium Networks Co. will post 1.02 earnings per share for the current year.
In related news, VP Scott Imhoff sold 13,000 shares of the business’s stock in a transaction on Tuesday, December 7th. The shares were sold at an average price of $26.50, for a total value of $344,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Sally Rau sold 6,317 shares of the business’s stock in a transaction on Wednesday, December 1st. The stock was sold at an average price of $27.49, for a total transaction of $173,654.33. The disclosure for this sale can be found here. Company insiders own 66.80% of the company’s stock.
About Cambium Networks
Cambium Networks Corp. engages in the provision of wireless broadband networking infrastructure solutions for network operators. Its products include point-to-point, enterprise Wi-Fi and switching, CCTV,software, and point-to multipoint. The company was founded in 2011 and is headquartered in Rolling Meadows, IL.
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