CSP (NASDAQ:CSPI) Director Acquires $23,700.00 in Stock

CSP Inc. (NASDAQ:CSPI) Director Stephen Webber acquired 2,500 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

CSP Stock Down 3.6%

NASDAQ CSPI opened at $9.30 on Friday. The firm has a market cap of $93.65 million, a price-to-earnings ratio of -930.00 and a beta of 0.80. The business has a 50-day moving average price of $8.91 and a 200-day moving average price of $10.64. CSP Inc. has a twelve month low of $7.55 and a twelve month high of $15.94.

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

CSP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Thursday, May 21st will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.12 dividend on an annualized basis and a yield of 1.3%. CSP’s dividend payout ratio is presently -1,200.00%.

Institutional Investors Weigh In On CSP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in CSP by 113.0% during the second quarter. Geode Capital Management LLC now owns 158,355 shares of the information technology services provider’s stock valued at $2,049,000 after purchasing an additional 83,999 shares during the period. Segall Bryant & Hamill LLC raised its position in CSP by 100.2% during the fourth quarter. Segall Bryant & Hamill LLC now owns 38,448 shares of the information technology services provider’s stock valued at $481,000 after purchasing an additional 19,244 shares during the period. Goldman Sachs Group Inc. raised its position in CSP by 66.0% during the first quarter. Goldman Sachs Group Inc. now owns 29,800 shares of the information technology services provider’s stock valued at $457,000 after purchasing an additional 11,850 shares during the period. Jane Street Group LLC raised its position in CSP by 73.4% during the first quarter. Jane Street Group LLC now owns 27,640 shares of the information technology services provider’s stock valued at $424,000 after purchasing an additional 11,703 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of CSP by 14.4% in the second quarter. JPMorgan Chase & Co. now owns 26,079 shares of the information technology services provider’s stock worth $337,000 after buying an additional 3,279 shares during the period. 26.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSPI has been the subject of a number of research reports. Weiss Ratings raised CSP from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday. Wall Street Zen downgraded CSP from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

CSP Company Profile

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.