CSP Inc. (NASDAQ:CSPI) Director Sells $28,500.00 in Stock

CSP Inc. (NASDAQ:CSPI) Director C Shelton James sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $14.25, for a total value of $28,500.00. Following the completion of the sale, the director now directly owns 109,606 shares of the company’s stock, valued at approximately $1,561,885.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

CSP Trading Down 2.7 %

CSPI stock opened at $13.91 on Friday. The firm has a 50 day moving average of $14.75 and a 200-day moving average of $16.05. The company has a market cap of $135.68 million, a price-to-earnings ratio of 24.84 and a beta of 1.38. CSP Inc. has a 12-month low of $6.80 and a 12-month high of $29.92.

CSP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 23rd will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.12 annualized dividend and a yield of 0.86%. CSP’s dividend payout ratio is presently 21.43%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of CSP from a “buy” rating to a “hold” rating in a report on Tuesday.

Institutional Trading of CSP

A number of institutional investors have recently bought and sold shares of CSPI. O Shaughnessy Asset Management LLC acquired a new position in shares of CSP during the 1st quarter worth $276,000. Navellier & Associates Inc. increased its holdings in CSP by 53.4% during the 4th 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. American Century Companies Inc. purchased a new stake in shares of CSP in the second quarter valued at about $503,000. Apis Capital Advisors LLC raised its position in shares of CSP by 50.0% during the 2nd quarter. Apis Capital Advisors LLC now owns 36,000 shares of the information technology services provider’s stock worth $536,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in CSP by 122.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 197,556 shares of the information technology services provider’s stock valued at $2,944,000 after buying an additional 108,778 shares in the last quarter. 26.74% of the stock is currently owned by hedge funds and other 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.