Cantaloupe (NASDAQ:CTLP) Sets New 12-Month High After Insider Buying Activity

Cantaloupe, Inc. (NASDAQ:CTLP)’s share price reached a new 52-week high on Tuesday following insider buying activity. The company traded as high as $8.21 and last traded at $7.86, with a volume of 50317 shares trading hands. The stock had previously closed at $7.40.

Specifically, Director Douglas Bergeron acquired 36,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was bought at an average cost of $7.41 per share, with a total value of $266,760.00. Following the transaction, the director now directly owns 462,319 shares in the company, valued at approximately $3,425,783.79. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas Bergeron bought 13,866 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were acquired at an average cost of $7.15 per share, for a total transaction of $99,141.90. Following the completion of the transaction, the director now owns 192,185 shares of the company’s stock, valued at approximately $1,374,122.75. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

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

Cantaloupe Trading Up 6.1 %

The company has a current ratio of 1.49, a quick ratio of 1.10 and a debt-to-equity ratio of 0.20. The company has a market cap of $571.56 million, a price-to-earnings ratio of 49.13 and a beta of 1.70. The firm has a 50-day moving average price of $6.90 and a 200 day moving average price of $6.65.

Cantaloupe (NASDAQ:CTLP) last released its quarterly earnings data on Tuesday, September 10th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Cantaloupe had a return on equity of 6.83% and a net margin of 4.47%. The business had revenue of $72.66 million during the quarter, compared to analyst estimates of $76.14 million. During the same period in the prior year, the firm earned $0.04 EPS. As a group, sell-side analysts forecast that Cantaloupe, Inc. will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new stake in Cantaloupe during the second quarter worth about $89,000. Price T Rowe Associates Inc. MD boosted its stake in Cantaloupe by 23.0% in the first 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cantaloupe by 68.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,075 shares of the technology company’s stock valued at $152,000 after purchasing an additional 9,374 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Cantaloupe by 15.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company’s stock worth $159,000 after purchasing an additional 3,210 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in shares of Cantaloupe by 163.2% in the 2nd quarter. Squarepoint Ops LLC now owns 31,228 shares of the technology company’s stock worth $206,000 after purchasing an additional 19,365 shares during the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

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.