Lazard Asset Management LLC Makes New Investment in Cambium Networks Co. (NASDAQ:CMBM)

Lazard Asset Management LLC acquired a new position in shares of Cambium Networks Co. (NASDAQ:CMBMGet Rating) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,157 shares of the company’s stock, valued at approximately $75,000.

Other large investors have also recently bought and sold shares of the company. Sageworth Trust Co acquired a new position in Cambium Networks during the 2nd quarter worth $57,000. US Bancorp DE lifted its holdings in Cambium Networks by 30.0% during the 1st quarter. US Bancorp DE now owns 7,068 shares of the company’s stock worth $167,000 after buying an additional 1,629 shares in the last quarter. Rhumbline Advisers lifted its holdings in Cambium Networks by 31.6% during the 1st quarter. Rhumbline Advisers now owns 10,553 shares of the company’s stock worth $249,000 after buying an additional 2,532 shares in the last quarter. IndexIQ Advisors LLC lifted its holdings in Cambium Networks by 87.9% during the 1st quarter. IndexIQ Advisors LLC now owns 16,983 shares of the company’s stock worth $401,000 after buying an additional 7,944 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Cambium Networks by 10.0% during the 1st quarter. Swiss National Bank now owns 22,100 shares of the company’s stock worth $522,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 90.68% of the company’s stock.

Cambium Networks Price Performance

CMBM stock opened at $20.37 on Friday. The stock has a 50-day moving average price of $18.93 and a two-hundred day moving average price of $17.35. Cambium Networks Co. has a 1 year low of $12.40 and a 1 year high of $29.38. The company has a current ratio of 2.42, a quick ratio of 1.79 and a debt-to-equity ratio of 0.19. The stock has a market cap of $550.60 million, a PE ratio of 49.68, a price-to-earnings-growth ratio of 2.56 and a beta of 0.88.

Cambium Networks (NASDAQ:CMBMGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.20. Cambium Networks had a net margin of 3.99% and a return on equity of 10.73%. The company had revenue of $81.20 million during the quarter, compared to the consensus estimate of $74.17 million. Equities analysts forecast that Cambium Networks Co. will post 0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Raymond James downgraded Cambium Networks from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $29.00 to $26.00 in a research note on Tuesday, November 15th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.86.

Insider Activity at Cambium Networks

In related news, General Counsel Sally Rau sold 5,625 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $18.27, for a total value of $102,768.75. Following the completion of the sale, the general counsel now directly owns 1,134 shares in the company, valued at approximately $20,718.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cambium Networks news, VP Ronald G. Ryan sold 9,222 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $20.97, for a total transaction of $193,385.34. Following the completion of the sale, the vice president now directly owns 35,315 shares in the company, valued at $740,555.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Sally Rau sold 5,625 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $18.27, for a total transaction of $102,768.75. Following the sale, the general counsel now owns 1,134 shares of the company’s stock, valued at $20,718.18. The disclosure for this sale can be found here. 58.50% of the stock is currently owned by company insiders.

About Cambium Networks

(Get Rating)

Cambium Networks Corporation, through its subsidiaries, provides wireless broadband networking infrastructure products and solutions for commercial and government network operators. Its wireless fabric includes intelligent radios, smart antennas, radio frequency (RF) algorithms, wireless-aware switches, and cloud-based network management software.

See Also

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Institutional Ownership by Quarter for Cambium Networks (NASDAQ:CMBM)

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