Ravi Venkatesan Acquires 8,000 Shares of Cantaloupe, Inc. (NASDAQ:CTLP) Stock

Cantaloupe, Inc. (NASDAQ:CTLP) CEO Ravi Venkatesan bought 8,000 shares of the stock in a transaction on Friday, September 13th. The stock was purchased at an average cost of $6.30 per share, for a total transaction of $50,400.00. Following the acquisition, the chief executive officer now directly owns 136,658 shares of the company’s stock, valued at approximately $860,945.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cantaloupe Stock Performance

Shares of NASDAQ CTLP opened at $6.39 on Wednesday. The company has a 50-day simple moving average of $6.88 and a 200-day simple moving average of $6.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 1.17. The company has a market cap of $465.26 million, a PE ratio of 39.94 and a beta of 1.70. Cantaloupe, Inc. has a 12 month low of $5.74 and a 12 month high of $7.91.

Cantaloupe (NASDAQ:CTLP) last released its earnings results on Tuesday, September 10th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $72.66 million during the quarter, compared to analysts’ expectations of $76.14 million. Cantaloupe had a return on equity of 6.83% and a net margin of 4.47%. During the same period in the previous year, the firm posted $0.04 earnings per share. On average, equities analysts anticipate that Cantaloupe, Inc. will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On Cantaloupe

Several institutional investors have recently added to or reduced their stakes in CTLP. Jump Financial LLC boosted its stake in Cantaloupe by 29.9% in the 4th quarter. Jump Financial LLC now owns 46,698 shares of the technology company’s stock worth $346,000 after buying an additional 10,757 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Cantaloupe by 52.6% in the fourth quarter. Corient Private Wealth LLC now owns 165,400 shares of the technology company’s stock valued at $1,226,000 after purchasing an additional 57,034 shares during the period. Advisory Services Network LLC acquired a new position in Cantaloupe during the fourth quarter worth approximately $461,000. North Star Investment Management Corp. purchased a new position in Cantaloupe during the first quarter worth approximately $1,093,000. Finally, Susquehanna Fundamental Investments LLC boosted its holdings in shares of Cantaloupe by 53.2% in the 1st quarter. Susquehanna Fundamental Investments LLC now owns 50,333 shares of the technology company’s stock valued at $324,000 after purchasing an additional 17,479 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTLP has been the topic of a number of research reports. Benchmark reissued a “buy” rating and issued a $10.00 price objective on shares of Cantaloupe in a research note on Wednesday, September 11th. Barrington Research reiterated an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a research report on Friday, September 13th. Northland Securities reissued an “outperform” rating and set a $10.00 price objective on shares of Cantaloupe in a research note on Friday, July 12th. Finally, Craig Hallum reduced their target price on Cantaloupe from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $10.00.

About Cantaloupe

Cantaloupe, Inc, a digital payments and software services company, provides technology solutions for the unattended retail market. The company offers integrated solutions for payments processing, logistics, and back-office management. It also provides ePort, an integrated payment device that is deployed in self-service, unattended market applications, such as vending, micro-markets, amusement, arcade, commercial laundry, air/vacuum, car wash, and others, which facilitates digital payments; and integrated software services for payment or asset tracking devices.