Cantaloupe, Inc. (NASDAQ:CTLP) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Cantaloupe, Inc. (NASDAQ:CTLP) have been given a consensus recommendation of “Reduce” by the eight brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $12.7333.

CTLP has been the topic of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Cantaloupe in a research note on Monday. Zacks Research raised Cantaloupe from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th.

Cantaloupe Stock Performance

Shares of CTLP opened at $10.64 on Wednesday. Cantaloupe has a one year low of $7.01 and a one year high of $11.36. The company has a market cap of $784.17 million, a PE ratio of 50.67 and a beta of 1.14. The stock has a 50-day moving average of $10.60 and a 200-day moving average of $10.67. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.81 and a quick ratio of 1.28.

Insider Transactions at Cantaloupe

In other Cantaloupe news, CFO Scott Matthew Stewart sold 62,830 shares of Cantaloupe stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $10.63, for a total value of $667,882.90. Following the sale, the chief financial officer owned 53,009 shares of the company’s stock, valued at approximately $563,485.67. The trade was a 54.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Gaurav Singal sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $10.63, for a total value of $2,126,000.00. Following the completion of the transaction, the chief technology officer owned 40,533 shares in the company, valued at approximately $430,865.79. The trade was a 83.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 277,374 shares of company stock worth $2,948,195 over the last three months. 7.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Cantaloupe

Several hedge funds have recently made changes to their positions in the stock. Magnetar Financial LLC raised its stake in shares of Cantaloupe by 11.8% during the 3rd quarter. Magnetar Financial LLC now owns 3,642,669 shares of the technology company’s stock valued at $38,503,000 after purchasing an additional 385,074 shares during the period. Vanguard Group Inc. increased its position in shares of Cantaloupe by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,553,862 shares of the technology company’s stock valued at $27,969,000 after buying an additional 14,747 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Cantaloupe by 60.1% in the second quarter. Disciplined Growth Investors Inc. MN now owns 3,173,351 shares of the technology company’s stock worth $34,875,000 after buying an additional 1,191,748 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Cantaloupe by 69.1% in the third quarter. Alliancebernstein L.P. now owns 2,942,067 shares of the technology company’s stock valued at $31,098,000 after acquiring an additional 1,201,841 shares during the period. Finally, Beryl Capital Management LLC purchased a new position in Cantaloupe during the second quarter valued at approximately $27,709,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

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.