First Eagle Investment Management LLC Invests $2.28 Million in Cantaloupe, Inc. (NASDAQ:CTLP)

First Eagle Investment Management LLC purchased a new stake in shares of Cantaloupe, Inc. (NASDAQ:CTLP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 344,795 shares of the technology company’s stock, valued at approximately $2,276,000. First Eagle Investment Management LLC owned 0.47% of Cantaloupe as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Archon Capital Management LLC increased its stake in Cantaloupe by 8.2% during the 1st quarter. Archon Capital Management LLC now owns 1,434,125 shares of the technology company’s stock valued at $9,221,000 after buying an additional 108,423 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Cantaloupe by 10.8% in the second quarter. Bank of New York Mellon Corp now owns 212,891 shares of the technology company’s stock valued at $1,405,000 after acquiring an additional 20,835 shares in the last quarter. North Star Investment Management Corp. acquired a new position in shares of Cantaloupe during the first quarter valued at approximately $1,093,000. Corient Private Wealth LLC raised its holdings in Cantaloupe by 52.6% during the fourth quarter. Corient Private Wealth LLC now owns 165,400 shares of the technology company’s stock worth $1,226,000 after purchasing an additional 57,034 shares in the last quarter. Finally, ClariVest Asset Management LLC lifted its position in Cantaloupe by 2.8% in the second quarter. ClariVest Asset Management LLC now owns 112,469 shares of the technology company’s stock worth $742,000 after purchasing an additional 3,011 shares during the period. 75.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at Cantaloupe

In other news, CEO Ravi Venkatesan purchased 8,000 shares of Cantaloupe stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $6.30 per share, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now owns 136,658 shares in the company, valued at $860,945.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.30% of the stock is currently owned by insiders.

Cantaloupe Stock Performance

CTLP opened at $6.74 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. The firm has a market cap of $491.95 million, a PE ratio of 42.13 and a beta of 1.70. The business has a fifty day simple moving average of $6.88 and a 200-day simple moving average of $6.60. Cantaloupe, Inc. has a fifty-two week low of $5.74 and a fifty-two week high of $7.91.

Cantaloupe (NASDAQ:CTLP) last issued its quarterly earnings results on Tuesday, September 10th. The technology company reported $0.03 earnings per share 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 company had revenue of $72.66 million during the quarter, compared to analysts’ expectations of $76.14 million. During the same period in the prior year, the business posted $0.04 EPS. As a group, equities analysts predict that Cantaloupe, Inc. will post 0.31 EPS for the current fiscal year.

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.