MetLife Investment Management LLC Sells 6,700 Shares of Cantaloupe, Inc. (NASDAQ:CTLP)

MetLife Investment Management LLC lowered its holdings in Cantaloupe, Inc. (NASDAQ:CTLP) by 20.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,831 shares of the technology company’s stock after selling 6,700 shares during the period. MetLife Investment Management LLC’s holdings in Cantaloupe were worth $199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTLP. Price T Rowe Associates Inc. MD grew its holdings in shares of Cantaloupe by 23.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company’s stock valued at $111,000 after acquiring an additional 3,197 shares in the last quarter. ARS Investment Partners LLC increased its position in shares of Cantaloupe by 3.4% during the 2nd quarter. ARS Investment Partners LLC now owns 50,059 shares of the technology company’s stock worth $330,000 after purchasing an additional 1,650 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Cantaloupe during the 2nd quarter worth approximately $89,000. Bank of New York Mellon Corp raised its stake in shares of Cantaloupe by 10.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 212,891 shares of the technology company’s stock worth $1,405,000 after purchasing an additional 20,835 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cantaloupe by 68.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,075 shares of the technology company’s stock valued at $152,000 after buying an additional 9,374 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Cantaloupe Stock Down 0.9 %

Cantaloupe stock opened at $9.05 on Monday. The company’s 50-day moving average price is $8.91 and its two-hundred day moving average price is $7.57. The company has a quick ratio of 1.03, a current ratio of 1.60 and a debt-to-equity ratio of 0.19. The stock has a market cap of $660.52 million, a P/E ratio of 53.24 and a beta of 1.66. Cantaloupe, Inc. has a twelve month low of $5.74 and a twelve month high of $9.67.

Cantaloupe (NASDAQ:CTLP) last announced its earnings results on Thursday, November 7th. The technology company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $70.84 million for the quarter, compared to analyst estimates of $70.54 million. Cantaloupe had a return on equity of 7.53% and a net margin of 4.90%. During the same quarter last year, the company earned $0.02 earnings per share. As a group, analysts expect that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Insider Transactions at Cantaloupe

In related news, CEO Ravi Venkatesan acquired 8,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was purchased at an average cost of $6.30 per share, with a total value 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 trade was a 6.22 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas Bergeron bought 36,000 shares of Cantaloupe stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of $7.41 per share, for a total transaction of $266,760.00. Following the completion of the acquisition, the director now owns 462,319 shares in the company, valued at $3,425,783.79. This represents a 8.44 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 57,866 shares of company stock valued at $416,302. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barrington Research reaffirmed an “outperform” rating and set a $10.00 price target on shares of Cantaloupe in a research report on Monday, November 4th. Benchmark raised their target price on shares of Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Craig Hallum lowered their price target on Cantaloupe from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Northland Securities raised their price objective on Cantaloupe from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Monday, November 11th.

Cantaloupe Company Profile

Cantaloupe, Inc, a digital payments and software services company, provides technology solutions for self-service commerce market. The company offers integrated solutions for payments processing, logistics, and back-office management. It also provides G11 cashless and pulse kits that are 4G LTE digital payment devices for payment and consumer engagement applications; G11 chip kit, a digital reader that accepts contact EMV and contactless EMV payment methods; Engage series comprising Engage and Engage Combo, which are digital touchscreen devices that offers networking, security, and interactivity payment methods; and card touchscreen card readers, including P66, P100, P100Pro, and P30.