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

CSP Inc. (NASDAQ:CSPI) Director Stephen Webber purchased 2,500 shares of the stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average cost of $9.48 per share, for a total transaction of $23,700.00. Following the completion of the purchase, the director directly owned 12,500 shares of the company’s stock, valued at approximately $118,500. The trade was a 25.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

CSP Price Performance

Shares of NASDAQ:CSPI opened at $9.28 on Thursday. The business’s 50 day moving average price is $8.89 and its 200-day moving average price is $10.67. The firm has a market capitalization of $93.47 million, a PE ratio of -928.00 and a beta of 0.80. CSP Inc. has a 1 year low of $7.55 and a 1 year high of $16.98.

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

CSP Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CSPI. Weiss Ratings raised CSP from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday. Wall Street Zen lowered CSP from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On CSP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Visionary Wealth Advisors boosted its stake in CSP by 2.4% during the fourth quarter. Visionary Wealth Advisors now owns 764,888 shares of the information technology services provider’s stock worth $9,561,000 after buying an additional 17,728 shares during the last quarter. Geode Capital Management LLC boosted its stake in CSP by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 163,385 shares of the information technology services provider’s stock worth $2,043,000 after buying an additional 2,739 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake 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 worth $481,000 after buying an additional 19,244 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake 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 worth $457,000 after buying an additional 11,850 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake 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 worth $424,000 after buying an additional 11,703 shares during the last quarter. Institutional investors and hedge funds own 26.74% of the company’s stock.

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.