Short Interest in CSP Inc. (NASDAQ:CSPI) Decreases By 7.2%

CSP Inc. (NASDAQ:CSPI) was the recipient of a significant decrease in short interest in the month of 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 trading volume of 76,800 shares, the days-to-cover ratio is currently 4.9 days.

CSP Trading Down 2.8 %

Shares of NASDAQ:CSPI opened at $15.17 on Thursday. The firm’s 50 day moving average is $14.12 and its two-hundred day moving average is $14.98. CSP has a 52 week low of $4.91 and a 52 week high of $29.92. The firm has a market capitalization of $147.91 million, a P/E ratio of 27.09 and a beta of 1.37.

CSP (NASDAQ:CSPI) last announced its quarterly earnings results on Wednesday, May 8th. The information technology services provider reported $0.16 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 company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were paid a $0.03 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $0.12 annualized dividend and a dividend yield of 0.79%. This is a positive change from CSP’s previous quarterly dividend of $0.03. CSP’s dividend payout ratio (DPR) is presently 21.43%.

Insider Buying and Selling

In other CSP news, major shareholder Joseph R. Nerges acquired 2,810 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average price of $14.20 per share, for a total transaction of $39,902.00. Following the completion of the purchase, the insider now directly owns 1,350,402 shares in the company, valued at $19,175,708.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other CSP news, major shareholder Joseph R. Nerges acquired 2,810 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average price of $14.20 per share, for a total transaction of $39,902.00. Following the completion of the purchase, the insider now directly owns 1,350,402 shares in the company, valued at $19,175,708.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Joseph R. Nerges acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were acquired at an average price of $14.30 per share, for a total transaction of $35,750.00. Following the purchase, the insider now owns 1,355,102 shares of the company’s stock, valued at $19,377,958.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 14,652 shares of company stock worth $206,757 over the last quarter. 16.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On CSP

Large investors have recently made changes to their positions in the company. Visionary Wealth Advisors boosted its holdings in shares of CSP by 3.3% in the fourth quarter. Visionary Wealth Advisors now owns 293,403 shares of the information technology services provider’s stock valued at $5,868,000 after acquiring an additional 9,363 shares in the last quarter. Navellier & Associates Inc. boosted its holdings in shares of CSP by 53.4% in the fourth quarter. Navellier & Associates Inc. now owns 32,204 shares of the information technology services provider’s stock valued at $628,000 after acquiring an additional 11,215 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of CSP in the first quarter valued at approximately $276,000. Finally, Vanguard Group Inc. boosted its holdings in shares of CSP by 102.4% in the first quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock valued at $7,561,000 after acquiring an additional 207,253 shares in the last quarter. Institutional investors and hedge funds own 26.74% of the company’s stock.

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.