Cantaloupe (NASDAQ:CTLP) Sets New 52-Week High After Insider Buying Activity

Cantaloupe, Inc. (NASDAQ:CTLP) hit a new 52-week high during mid-day trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $8.21 and last traded at $7.86, with a volume of 50317 shares. The stock had previously closed at $7.40.

Specifically, Director Douglas Bergeron acquired 36,000 shares of Cantaloupe stock in a transaction on Monday, September 30th. The stock was bought at an average price of $7.41 per share, for a total transaction of $266,760.00. Following the completion of the purchase, the director now owns 462,319 shares in the company, valued at $3,425,783.79. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas Bergeron bought 13,866 shares of the stock in a transaction dated Thursday, September 26th. The shares were acquired at an average price 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.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CTLP. Craig Hallum decreased their price target on shares of Cantaloupe from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Barrington Research reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Cantaloupe in a research note on Friday, September 13th. Benchmark reissued a “buy” rating and issued a $10.00 target price on shares of Cantaloupe in a report on Wednesday, September 11th. Finally, Northland Securities reiterated an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a research report on Friday, July 12th.

Cantaloupe Price Performance

The firm has a market cap of $570.10 million, a PE ratio of 48.94 and a beta of 1.70. The company has a 50 day moving average price of $6.92 and a 200 day moving average price of $6.67. The company has a current ratio of 1.49, a quick ratio of 1.10 and a debt-to-equity ratio of 0.20.

Cantaloupe (NASDAQ:CTLP) last released its quarterly earnings data on Tuesday, September 10th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $76.14 million. During the same quarter in the prior year, the firm earned $0.04 earnings per share. On average, sell-side analysts expect that Cantaloupe, Inc. will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. North Star Investment Management Corp. acquired a new position in shares of Cantaloupe in the first quarter worth $1,093,000. Susquehanna Fundamental Investments LLC grew its holdings in shares of Cantaloupe by 53.2% during the first quarter. Susquehanna Fundamental Investments LLC now owns 50,333 shares of the technology company’s stock worth $324,000 after buying an additional 17,479 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of Cantaloupe by 11.4% during the first quarter. Jupiter Asset Management Ltd. now owns 34,558 shares of the technology company’s stock worth $222,000 after buying an additional 3,536 shares in the last quarter. Archon Capital Management LLC lifted its stake in shares of Cantaloupe by 8.2% during the first 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. Finally, Price T Rowe Associates Inc. MD boosted its position in Cantaloupe by 23.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company’s stock worth $111,000 after acquiring an additional 3,197 shares during the last quarter. 75.75% of the stock is currently 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.