Intech Investment Management LLC Takes Position in Cantaloupe, Inc. (NASDAQ:CTLP)

Intech Investment Management LLC bought a new stake in Cantaloupe, Inc. (NASDAQ:CTLP) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 16,133 shares of the technology company’s stock, valued at approximately $119,000.

A number of other hedge funds have also modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in shares of Cantaloupe in the third quarter valued at about $153,000. Inspire Investing LLC acquired a new stake in shares of Cantaloupe in the third quarter valued at about $416,000. SG Americas Securities LLC acquired a new stake in shares of Cantaloupe in the third quarter valued at about $164,000. Disciplined Growth Investors Inc. MN raised its position in shares of Cantaloupe by 0.9% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,601,261 shares of the technology company’s stock valued at $10,568,000 after buying an additional 14,431 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its position in shares of Cantaloupe by 7.3% in the second quarter. Susquehanna Fundamental Investments LLC now owns 54,023 shares of the technology company’s stock valued at $357,000 after buying an additional 3,690 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CTLP. Craig Hallum reduced their target price on shares of Cantaloupe from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Barrington Research reissued an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a report on Monday, November 4th. Benchmark upped their price objective on shares of Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Northland Securities upped their price objective on shares of Cantaloupe from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Monday, November 11th.

Cantaloupe Trading Down 0.9 %

Shares of CTLP opened at $9.05 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. Cantaloupe, Inc. has a 12-month low of $5.74 and a 12-month high of $9.67. The firm has a 50-day moving average price of $8.91 and a 200 day moving average price of $7.56. The firm has a market capitalization of $660.56 million, a P/E ratio of 53.24 and a beta of 1.66.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Cantaloupe had a net margin of 4.90% and a return on equity of 7.53%. The company had revenue of $70.84 million during the quarter, compared to the consensus estimate of $70.54 million. During the same period last year, the firm earned $0.02 EPS. Sell-side analysts forecast that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling at Cantaloupe

In other Cantaloupe news, Director Douglas Bergeron acquired 36,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $7.41 per share, for a total transaction of $266,760.00. Following the transaction, the director now directly owns 462,319 shares of the company’s stock, valued at approximately $3,425,783.79. This represents a 8.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ravi Venkatesan bought 8,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $6.30 per share, with a total value of $50,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 136,658 shares in the company, valued at $860,945.40. This represents a 6.22 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 57,866 shares of company stock valued at $416,302. Insiders own 6.30% of the company’s stock.

Cantaloupe 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.