Csquare (NYSE:CSQR) CEO Spencer Edward Mullee Buys 13,573 Shares of Stock

Key Points

• CEO Spencer Edward Mullee bought 13,573 shares at an average of $18.20, investing about $247,000; he now owns 3.585 million shares.
• Csquare reported quarterly revenue of $302.3 million, up 25.6% year over year, but its loss of $0.58 per share was worse than analysts’ $0.49 estimate.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $28.78; shares were down 3.0% in the article’s trading update.

Csquare, Inc. (NYSE:CSQR - Get Free Report) CEO Spencer Edward Mullee bought 13,573 shares of Csquare stock in a transaction that occurred on Wednesday, November 11th. The stock was bought at an average cost of $18.20 per share, for a total transaction of $247,028.60. Following the purchase, the chief executive officer owned 3,585,000 shares in the company, valued at $65,247,000. This represents a 0.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Csquare Stock Down 3.0%

Shares of NYSE:CSQR opened at $17.00 on Thursday. Csquare, Inc. has a 52 week low of $12.30 and a 52 week high of $23.50. The firm has a fifty day simple moving average of $16.61.

Csquare (NYSE:CSQR - Get Free Report) last issued its quarterly earnings results on Monday, November 9th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.09). The company had revenue of $302.33 million for the quarter. During the same quarter last year, the business earned ($0.29) earnings per share. The firm's revenue for the quarter was up 25.6% on a year-over-year basis. On average, research analysts anticipate that Csquare, Inc. will post -1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Csquare

A hedge fund recently bought a new position in Csquare stock. Voya Investment Management LLC purchased a new position in shares of Csquare, Inc. (NYSE:CSQR - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 10,394 shares of the company's stock, valued at approximately $164,000.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada began coverage on shares of Csquare in a research report on Monday, August 10th. They issued an "outperform" rating and a $24.00 price target on the stock. TD Cowen boosted their price target on shares of Csquare from $28.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. began coverage on shares of Csquare in a research note on Monday, August 10th. They issued a "neutral" rating and a $24.00 price target for the company. Zacks Research upgraded shares of Csquare to a "hold" rating in a report on Thursday, August 20th. Finally, Weiss Ratings started coverage on shares of Csquare in a research note on Monday, October 12th. They set a "sell (d)" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $28.78.

Latest Csquare News

Here's some of the latest news about CSQR:

• Positive Sentiment: Third-quarter revenue rose 25.6% year over year to $302.3 million and surpassed estimates, with data-center demand cited as a growth driver. Q3 revenue and demand
• Neutral Sentiment: Csquare is seeking acquisitions, which could support expansion but may also bring execution and financing considerations. Acquisition plans
• Negative Sentiment: Short interest rose 69.9% from mid-October to October 30, reaching about 5.6% of shares outstanding. The increase suggests more investors are betting against CSQR and could add pressure to the stock.

About Csquare

Csquare Inc. is a provider of carrier-neutral data center solutions. The company's digital infrastructure platform offers carrier-neutral colocation and interconnection services which support the applications. Csquare Inc. is based in COPPELL, Texas.

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