Visionary Wealth Advisors Acquires New Position in CSP Inc. $CSPI

Visionary Wealth Advisors acquired a new stake in shares of CSP Inc. (NASDAQ:CSPI) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 801,088 shares of the information technology services provider’s stock, valued at approximately $6,361,000. Visionary Wealth Advisors owned 0.08% of CSP at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in shares of CSP by 3,943.3% in the second quarter. Bank of America Corp DE now owns 2,426 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 2,366 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of CSP in the second quarter valued at approximately $49,000. Raymond James Financial Inc. purchased a new stake in shares of CSP during the 2nd quarter valued at approximately $91,000. Wells Fargo & Company MN lifted its stake in shares of CSP by 72.6% during the 4th quarter. Wells Fargo & Company MN now owns 7,618 shares of the information technology services provider’s stock valued at $95,000 after buying an additional 3,204 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new position in CSP in the 2nd quarter worth approximately $122,000. Institutional investors own 26.74% of the company’s stock.

CSP Trading Down 0.4%

Shares of NASDAQ CSPI opened at $7.53 on Tuesday. CSP Inc. has a 12 month low of $7.11 and a 12 month high of $15.00. The firm has a market capitalization of $75.90 million, a price-to-earnings ratio of -107.56 and a beta of 0.85. The business has a 50-day moving average of $8.18 and a 200-day moving average of $8.81.

CSP (NASDAQ:CSPI) last posted its quarterly earnings data on Friday, August 14th. The information technology services provider reported ($0.09) earnings per share for the quarter. The company had revenue of $14.40 million during the quarter. CSP had a negative return on equity of 1.56% and a negative net margin of 1.22%.

CSP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 28th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.6%. CSP’s dividend payout ratio is presently -171.43%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of CSP in a research note on Friday, August 7th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

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.