Cambium Networks Co. (NASDAQ:CMBM) Director Alexander R. Slusky Sells 2,000,000 Shares

Cambium Networks Co. (NASDAQ:CMBM) Director Alexander R. Slusky sold 2,000,000 shares of the business’s stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $46.08, for a total value of $92,160,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

NASDAQ CMBM opened at $46.94 on Friday. The business has a 50 day simple moving average of $55.03. The company has a current ratio of 1.73, a quick ratio of 1.40 and a debt-to-equity ratio of 0.27. Cambium Networks Co. has a 12 month low of $5.20 and a 12 month high of $66.40. The stock has a market cap of $1.24 billion, a PE ratio of 33.06, a PEG ratio of 1.95 and a beta of 0.56.

Cambium Networks (NASDAQ:CMBM) last posted its quarterly earnings results on Thursday, May 6th. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.08. Cambium Networks had a return on equity of 64.87% and a net margin of 12.81%. The company had revenue of $88.52 million for the quarter, compared to analysts’ expectations of $83.07 million. During the same period in the previous year, the firm earned $0.05 EPS. The firm’s revenue was up 46.5% compared to the same quarter last year. As a group, sell-side analysts predict that Cambium Networks Co. will post 1.27 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on Cambium Networks from $52.00 to $66.00 in a research report on Wednesday, April 7th. Zacks Investment Research raised Cambium Networks from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Monday, February 22nd. The Goldman Sachs Group lifted their price objective on Cambium Networks from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, May 7th. Northland Securities lifted their price objective on Cambium Networks from $31.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 19th. Finally, JMP Securities lifted their price objective on Cambium Networks from $47.00 to $70.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 28th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $45.67.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kornitzer Capital Management Inc. KS raised its holdings in shares of Cambium Networks by 10.4% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 504,997 shares of the company’s stock worth $23,593,000 after acquiring an additional 47,772 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new stake in shares of Cambium Networks during the 4th quarter worth approximately $619,000. Koshinski Asset Management Inc. purchased a new stake in shares of Cambium Networks during the 4th quarter worth approximately $1,608,000. Commonwealth Equity Services LLC purchased a new stake in shares of Cambium Networks during the 1st quarter worth approximately $341,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Cambium Networks during the 4th quarter worth approximately $323,000. 87.12% of the stock is currently owned by institutional investors.

About Cambium Networks

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

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