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Should You Exit CalAmp Corp. (CAMP)?

Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund delivered a return of -5.77% net of fees (-5.57% gross of fees), trailing the Russell 2000 Index’s -5.13% total return. Both security selection and allocation effects drove the underperformance of the strategy in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Aristotle Capital Small Cap Equity Strategy highlighted stocks like CalAmp Corp. (NASDAQ:CAMP) in the third quarter 2023 investor letter. Headquartered in Irvine, California, CalAmp Corp. (NASDAQ:CAMP) is a connected intelligence company. On October 16, 2023, CalAmp Corp. (NASDAQ:CAMP) stock closed at $0.2435 per share. One-month return of CalAmp Corp. (NASDAQ:CAMP) was -46.06%, and its shares lost 93.22% of their value over the last 52 weeks. CalAmp Corp. (NASDAQ:CAMP) has a market capitalization of $9.23 million.

Aristotle Capital Small Cap Equity Strategy made the following comment about CalAmp Corp. (NASDAQ:CAMP) in its Q3 2023 investor letter:

"CalAmp Corp. (NASDAQ:CAMP), a supplier of Mobile Resource Management solutions that allow for the remote collection of data from vehicles and other assets was removed from the portfolio during the quarter. In spite of the company’s efforts to convert its customer base from a hardware to a subscription model, redesign its customer support systems, and introduce new products in recent years, a variety of factors contributed to the harvesting of these efforts being pushed out, unfavorably impacting the risk-reward profile of the business. Therefore, we decided to eliminate the position."

A group of engineers in a data center, ensuring IT resiliency. Editorial photo for a financial news article. 8k. --ar 16:9

CalAmp Corp. (NASDAQ:CAMP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 13 hedge fund portfolios held CalAmp Corp. (NASDAQ:CAMP) at the end of second quarter which was 14 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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