Cubist Systematic Strategies LLC Invests $160,000 in CoreCard Co. (NYSE:CCRD)

Cubist Systematic Strategies LLC bought a new stake in CoreCard Co. (NYSE:CCRD) in the second quarter, HoldingsChannel reports. The fund bought 10,975 shares of the company’s stock, valued at approximately $160,000.

Several other hedge funds have also modified their holdings of the stock. Acadian Asset Management LLC grew its stake in shares of CoreCard by 31.3% during the first quarter. Acadian Asset Management LLC now owns 142,431 shares of the company’s stock valued at $1,573,000 after acquiring an additional 33,945 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in CoreCard in the second quarter valued at about $145,000. Vanguard Group Inc. grew its stake in CoreCard by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 455,943 shares of the company’s stock valued at $5,038,000 after purchasing an additional 3,675 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in CoreCard by 0.6% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 307,771 shares of the company’s stock worth $4,490,000 after purchasing an additional 1,890 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of CoreCard by 46.0% in the 2nd quarter. Victory Capital Management Inc. now owns 5,684 shares of the company’s stock valued at $83,000 after purchasing an additional 1,790 shares in the last quarter. 43.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley lowered shares of CoreCard from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $19.00 to $15.00 in a research note on Thursday, October 3rd.

CoreCard Stock Performance

Shares of CoreCard stock opened at $12.36 on Wednesday. The firm has a market cap of $100.87 million, a PE ratio of 41.20 and a beta of 0.41. CoreCard Co. has a 1 year low of $10.02 and a 1 year high of $21.75. The firm’s 50-day simple moving average is $13.89 and its 200-day simple moving average is $13.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.08 and a current ratio of 5.08.

CoreCard (NYSE:CCRD) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. CoreCard had a net margin of 3.03% and a return on equity of 4.87%. The firm had revenue of $13.80 million during the quarter, compared to the consensus estimate of $12.13 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. Equities analysts forecast that CoreCard Co. will post 0.48 earnings per share for the current fiscal year.

CoreCard Profile

CoreCard Corporation, together with its subsidiaries, offers technology solutions and processing services to the financial technology and services market in the United States, Europe, and the Middle East. It designs, develops, and markets a suite of software solutions to program managers, accounts receivable businesses, financial institutions, retailers, and processors to manage their credit and debit cards, prepaid cards, private label cards, fleet cards, buy now pay later programs, loyalty programs, and accounts receivable and loan transactions.