Citigroup Inc. Reduces Stock Position in Cambium Networks Co. (NASDAQ:CMBM)

Citigroup Inc. lowered its holdings in Cambium Networks Co. (NASDAQ:CMBMFree Report) by 47.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,603 shares of the company’s stock after selling 4,118 shares during the quarter. Citigroup Inc.’s holdings in Cambium Networks were worth $34,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CMBM. State of Wyoming purchased a new stake in Cambium Networks in the second quarter valued at $27,000. Tower Research Capital LLC TRC raised its position in Cambium Networks by 303.7% in the third quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the company’s stock worth $44,000 after acquiring an additional 1,956 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Cambium Networks during the second quarter worth about $38,000. UBS Group AG boosted its stake in shares of Cambium Networks by 493.9% during the 4th quarter. UBS Group AG now owns 2,910 shares of the company’s stock worth $63,000 after acquiring an additional 2,420 shares in the last quarter. Finally, Barclays PLC boosted its position in Cambium Networks by 533.5% during the fourth quarter. Barclays PLC now owns 3,085 shares of the company’s stock worth $67,000 after purchasing an additional 2,598 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James boosted their price target on Cambium Networks from $5.25 to $5.50 and gave the stock an “outperform” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.04.

View Our Latest Stock Report on CMBM

Cambium Networks Stock Performance

Shares of Cambium Networks stock opened at $4.34 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 1.69. Cambium Networks Co. has a 1 year low of $3.53 and a 1 year high of $18.09. The firm’s 50-day simple moving average is $4.34 and its 200-day simple moving average is $4.89. The firm has a market cap of $120.91 million, a PE ratio of -1.88 and a beta of 0.94.

Cambium Networks (NASDAQ:CMBMGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.59). The firm had revenue of $40.21 million during the quarter, compared to the consensus estimate of $41.82 million. Cambium Networks had a negative net margin of 28.87% and a negative return on equity of 30.83%. Equities analysts forecast that Cambium Networks Co. will post -0.66 earnings per share for the current fiscal year.

Cambium Networks Profile

(Free Report)

Cambium Networks Corporation, together with its subsidiaries, engages in the design, development, and manufacture of wireless broadband and Wi-Fi networking infrastructure solutions. The company offers point-to-point fixed wireless backhaul and point-to-multipoint fixed wireless solutions; and enterprise solutions comprising cnMatrix cloud-managed wireless-aware switching solution, Xirrus Wi-Fi solutions, and Wi-Fi 6/6E access points which support cnMaestro and Xirrus XMS management.

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

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