CSP (NASDAQ:CSPI) Announces Quarterly Earnings Results

Key Points

• CSP reported a quarterly earnings loss of ($0.03) per share, with revenues of $15.45 million and negative margins and return on equity.
• The company announced a quarterly dividend of $0.03, with an annualized yield of 1.0% and a negative dividend payout ratio.
• Institutional trading saw significant increases, with Bank of America boosting its position in CSP by 3,943.3% during the second quarter.

CSP (NASDAQ:CSPI - Get Free Report) announced its quarterly earnings data on Thursday. The information technology services provider reported ($0.03) earnings per share (EPS) for the quarter, Zacks reports. CSP had a negative net margin of 2.78% and a negative return on equity of 3.35%. The company had revenue of $15.45 million for the quarter.

CSP Trading Up 2.5%

NASDAQ:CSPI traded up $0.28 on Wednesday, reaching $11.50. 4,644 shares of the stock traded hands, compared to its average volume of 32,376. The company has a market capitalization of $113.39 million, a price-to-earnings ratio of -67.64 and a beta of 0.88. CSP has a 12 month low of $9.65 and a 12 month high of $21.95. The company's fifty day simple moving average is $11.50 and its 200 day simple moving average is $14.47.

CSP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 29th. CSP's dividend payout ratio is -70.59%.

Hedge Funds Weigh In On CSP

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Visionary Wealth Advisors grew its position in CSP by 5.7% in the 2nd quarter. Visionary Wealth Advisors now owns 740,187 shares of the information technology services provider's stock worth $9,578,000 after purchasing an additional 39,738 shares during the period. Geode Capital Management LLC lifted its position in shares of CSP by 113.0% in the second quarter. Geode Capital Management LLC now owns 158,355 shares of the information technology services provider's stock valued at $2,049,000 after acquiring an additional 83,999 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in CSP by 66.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 29,800 shares of the information technology services provider's stock worth $457,000 after purchasing an additional 11,850 shares during the period. Jane Street Group LLC grew 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 valued at $424,000 after acquiring an additional 11,703 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of CSP by 14.4% during the second quarter. JPMorgan Chase & Co. now owns 26,079 shares of the information technology services provider's stock valued at $337,000 after purchasing an additional 3,279 shares in the last quarter. Institutional investors 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.