Cantaloupe (NASDAQ:CTLP) Sets New 12-Month High – Still a Buy?

Cantaloupe, Inc. (NASDAQ:CTLP) shares reached a new 52-week high on Wednesday . The stock traded as high as $8.36 and last traded at $8.36, with a volume of 82701 shares changing hands. The stock had previously closed at $8.03.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CTLP shares. Barrington Research restated an “outperform” rating and issued a $10.00 target price on shares of Cantaloupe in a report on Friday, September 13th. Northland Securities reissued an “outperform” rating and issued a $10.00 target price on shares of Cantaloupe in a report on Friday, July 12th. Craig Hallum lowered their price objective 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, Benchmark reissued a “buy” rating and issued a $10.00 target price on shares of Cantaloupe in a report on Wednesday, September 11th.

Cantaloupe Price Performance

The company has a market capitalization of $628.35 million, a PE ratio of 53.19 and a beta of 1.71. 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’s 50 day simple moving average is $6.94 and its 200 day simple moving average is $6.72.

Cantaloupe (NASDAQ:CTLP) last released its earnings results on Tuesday, September 10th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $72.66 million for the quarter, compared to the consensus estimate of $76.14 million. Cantaloupe had a return on equity of 6.83% and a net margin of 4.47%. During the same quarter last year, the business posted $0.04 earnings per share. As a group, research analysts anticipate that Cantaloupe, Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at Cantaloupe

In related news, Director Douglas Bergeron purchased 36,000 shares of Cantaloupe stock in a transaction dated Monday, September 30th. The stock was purchased at an average cost of $7.41 per share, with a total value of $266,760.00. Following the transaction, the director now owns 462,319 shares in the company, valued at approximately $3,425,783.79. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cantaloupe news, CEO Ravi Venkatesan purchased 8,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $6.30 per share, for a total transaction of $50,400.00. Following the completion of the purchase, the chief executive officer now owns 136,658 shares of the company’s stock, valued at approximately $860,945.40. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas Bergeron acquired 36,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 462,319 shares in the company, valued at $3,425,783.79. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 57,866 shares of company stock worth $416,302 over the last three months. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC acquired a new stake in shares of Cantaloupe during the second quarter worth about $2,276,000. Susquehanna Fundamental Investments LLC increased its stake in shares of Cantaloupe by 53.2% in the first quarter. Susquehanna Fundamental Investments LLC now owns 50,333 shares of the technology company’s stock worth $324,000 after acquiring an additional 17,479 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Cantaloupe in the second quarter worth $89,000. Harbor Capital Advisors Inc. raised its holdings in shares of Cantaloupe by 143.2% during the second quarter. Harbor Capital Advisors Inc. now owns 82,124 shares of the technology company’s stock worth $542,000 after purchasing an additional 48,356 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Cantaloupe by 152.7% in the first quarter. Janus Henderson Group PLC now owns 99,321 shares of the technology company’s stock valued at $638,000 after purchasing an additional 60,013 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

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.