Cantaloupe, Inc. (NASDAQ:CTLP) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Cantaloupe, Inc. has received an average recommendation of "Hold" from seven covering research firms, with one sell recommendation, five holds, and one buy.
• The average 1-year price target for the stock is $12.24 based on analyst coverage over the past year.
• Significant institutional investment changes include Magnetar Financial LLC boosting its position by over 10,162% and various firms increasing their stakes during the 2nd quarter.

Shares of Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) have earned an average rating of "Hold" from the seven research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $12.24.

CTLP has been the topic of a number of analyst reports. William Blair lowered shares of Cantaloupe from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Barrington Research lowered shares of Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, June 16th. Northland Capmk lowered shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Benchmark lowered shares of Cantaloupe from a "buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Finally, B. Riley lowered shares of Cantaloupe from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $11.50 to $11.20 in a research report on Tuesday, June 17th.

Cantaloupe Stock Performance

NASDAQ:CTLP opened at $10.87 on Friday. The firm's fifty day moving average price is $11.00 and its 200 day moving average price is $9.47. Cantaloupe has a 1-year low of $5.82 and a 1-year high of $11.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.79 and a quick ratio of 1.22. The firm has a market cap of $796.66 million, a price-to-earnings ratio of 13.76 and a beta of 1.18.

Institutional Investors Weigh In On Cantaloupe

Several institutional investors have recently made changes to their positions in CTLP. Magnetar Financial LLC boosted its position in shares of Cantaloupe by 10,162.7% during the 2nd quarter. Magnetar Financial LLC now owns 3,257,595 shares of the technology company's stock worth $35,801,000 after purchasing an additional 3,225,853 shares in the last quarter. Beryl Capital Management LLC purchased a new stake in shares of Cantaloupe during the 2nd quarter worth $27,709,000. Alliancebernstein L.P. boosted its position in shares of Cantaloupe by 3,808.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,740,226 shares of the technology company's stock worth $19,125,000 after purchasing an additional 1,695,696 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its position in shares of Cantaloupe by 60.1% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 3,173,351 shares of the technology company's stock worth $34,875,000 after purchasing an additional 1,191,748 shares in the last quarter. Finally, Alpine Associates Management Inc. purchased a new stake in shares of Cantaloupe during the 2nd quarter worth $12,053,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

About Cantaloupe

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.

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