CSP Inc. (NASDAQ:CSPI) Short Interest Down 7.2% in June

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

CSP Stock Performance

NASDAQ:CSPI traded down $0.43 during trading hours on Wednesday, reaching $15.17. The stock had a trading volume of 17,478 shares, compared to its average volume of 122,325. The stock has a market capitalization of $147.91 million, a PE ratio of 27.09 and a beta of 1.38. CSP has a 52 week low of $4.91 and a 52 week high of $29.92. The company has a 50 day moving average price of $14.12 and a two-hundred day moving average price of $14.98.

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

CSP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were issued a $0.03 dividend. This is an increase from CSP’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.79%. CSP’s dividend payout ratio (DPR) is presently 21.43%.

Insiders Place Their Bets

In related news, major shareholder Joseph R. Nerges acquired 2,200 shares of the stock in a transaction dated Friday, May 31st. The shares were purchased at an average cost of $14.21 per share, with a total value of $31,262.00. Following the transaction, the insider now directly owns 1,352,602 shares in the company, valued at $19,220,474.42. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Joseph R. Nerges bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was purchased at an average price of $14.30 per share, for a total transaction of $35,750.00. Following the completion of the transaction, the insider now owns 1,355,102 shares in the company, valued at $19,377,958.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Joseph R. Nerges acquired 2,200 shares of the company’s stock in a transaction on Friday, May 31st. The shares were bought at an average cost of $14.21 per share, with a total value of $31,262.00. Following the acquisition, the insider now directly owns 1,352,602 shares in the company, valued at $19,220,474.42. The disclosure for this purchase can be found here. Insiders purchased a total of 14,652 shares of company stock worth $206,757 over the last quarter. 16.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CSP

Large investors have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC bought a new stake in shares of CSP in the 1st quarter valued at approximately $276,000. Navellier & Associates Inc. lifted its position in CSP by 53.4% in the fourth quarter. Navellier & Associates Inc. now owns 32,204 shares of the information technology services provider’s stock worth $628,000 after buying an additional 11,215 shares during the last quarter. Visionary Wealth Advisors lifted its position in CSP by 3.3% in the fourth quarter. Visionary Wealth Advisors now owns 293,403 shares of the information technology services provider’s stock worth $5,868,000 after buying an additional 9,363 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in CSP by 102.4% during the first quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock worth $7,561,000 after buying an additional 207,253 shares during the period. 26.74% of the stock is owned by institutional investors.

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.