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

CSP Inc. (NASDAQ:CSPI) was the target 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 daily volume of 76,800 shares, the days-to-cover ratio is presently 4.9 days.

CSP Trading Down 2.8 %

Shares of NASDAQ CSPI opened at $15.17 on Thursday. The company has a market cap of $147.91 million, a price-to-earnings ratio of 27.09 and a beta of 1.37. CSP has a 12 month low of $4.91 and a 12 month high of $29.92. The stock 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 issued its earnings results on Wednesday, May 8th. The information technology services provider reported $0.16 EPS for the quarter. The firm had revenue of $13.71 million during the quarter. CSP had a return on equity of 10.99% and a net margin of 8.18%.

CSP Increases Dividend

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC acquired a new position in shares of CSP in the first quarter valued at approximately $276,000. Navellier & Associates Inc. increased its stake 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 buying an additional 11,215 shares during the period. Visionary Wealth Advisors increased its stake 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 buying an additional 9,363 shares during the period. Finally, Vanguard Group Inc. increased its stake 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 buying an additional 207,253 shares during the period. 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.