Swiss National Bank purchased a new position in shares of Cambium Learning Group, Inc. (NASDAQ:ABCD) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 28,600 shares of the company’s stock, valued at approximately $319,000. Swiss National Bank owned about 0.06% of Cambium Learning Group as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new position in shares of Cambium Learning Group during the first quarter worth about $117,000. GSA Capital Partners LLP bought a new position in shares of Cambium Learning Group during the first quarter worth about $146,000. The Manufacturers Life Insurance Company grew its position in shares of Cambium Learning Group by 397.8% during the first quarter. The Manufacturers Life Insurance Company now owns 13,888 shares of the company’s stock worth $156,000 after acquiring an additional 11,098 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Cambium Learning Group by 53.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 27,600 shares of the company’s stock worth $310,000 after acquiring an additional 9,600 shares during the last quarter. Finally, EAM Global Investors LLC bought a new position in shares of Cambium Learning Group during the first quarter worth about $357,000. Institutional investors and hedge funds own 21.94% of the company’s stock.
Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Cambium Learning Group from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Thursday, August 16th. BidaskClub upgraded shares of Cambium Learning Group from a “hold” rating to a “buy” rating in a research report on Friday, August 17th.
ABCD traded up $0.32 on Friday, reaching $12.07. The company had a trading volume of 93,859 shares, compared to its average volume of 191,673. The firm has a market capitalization of $559.53 million, a PE ratio of 28.07 and a beta of -0.70. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of -5.94. Cambium Learning Group, Inc. has a one year low of $5.19 and a one year high of $13.98.
Cambium Learning Group (NASDAQ:ABCD) last announced its earnings results on Monday, August 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). The company had revenue of $41.00 million during the quarter, compared to the consensus estimate of $39.97 million. Cambium Learning Group had a net margin of 27.45% and a negative return on equity of 70.40%.
In related news, insider Paul Fonte sold 5,000 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $13.22, for a total value of $66,100.00. Following the completion of the transaction, the insider now owns 5,000 shares in the company, valued at approximately $66,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 71.00% of the company’s stock.
About Cambium Learning Group
Cambium Learning Group, Inc provides educational technology solutions in the United States and internationally. It operates in three segments: Learning A-Z, ExploreLearning, and Voyager Sopris Learning. The Learning A-Z segment offers PreK-6 technology-enabled learning resources. It operates subscription-based Websites, including Reading A-Z, Raz-Kids, Headsprout, Science A-Z, Writing A-Z, Vocabulary A-Z, and ReadyTest A-Z that provide online supplemental books, lessons, assessments, and other instructional resources for individual classrooms, schools, and districts.
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