Visionary Wealth Advisors Invests $6.36 Million in CSP Inc. $CSPI

Visionary Wealth Advisors bought a new stake in CSP Inc. (NASDAQ:CSPI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 801,088 shares of the information technology services provider’s stock, valued at approximately $6,361,000. Visionary Wealth Advisors owned about 7.96% of CSP at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Bank of America Corp DE grew its position in CSP by 3,943.3% in the 2nd quarter. Bank of America Corp DE now owns 2,426 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 2,366 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in CSP in the 2nd quarter valued at about $49,000. Raymond James Financial Inc. bought a new position in shares of CSP during the 2nd quarter worth approximately $91,000. Wells Fargo & Company MN lifted its position in shares of CSP by 72.6% during the 4th quarter. Wells Fargo & Company MN now owns 7,618 shares of the information technology services provider’s stock worth $95,000 after buying an additional 3,204 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position in shares of CSP in the 2nd quarter worth approximately $122,000. 26.74% of the stock is owned by institutional investors.

CSP Stock Down 0.4%

CSP stock opened at $7.53 on Tuesday. CSP Inc. has a twelve month low of $7.11 and a twelve month high of $15.00. The firm has a 50 day moving average price of $8.18 and a 200-day moving average price of $8.81. The company has a market capitalization of $75.90 million, a P/E ratio of -107.56 and a beta of 0.85.

CSP (NASDAQ:CSPI) last posted its quarterly earnings results on Friday, August 14th. The information technology services provider reported ($0.09) EPS for the quarter. CSP had a negative return on equity of 1.56% and a negative net margin of 1.22%.The company had revenue of $14.40 million during the quarter.

CSP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 28th. CSP’s dividend payout ratio (DPR) is currently -171.43%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of CSP in a report on Friday, August 7th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company 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.