Cantaloupe (NASDAQ:CTLP) Receives Hold (C+) Rating from Weiss Ratings

Key Points

• Cantaloupe (NASDAQ:CTLP) received a "hold (C+)" rating from Weiss Ratings after several downgrades from various analysts, impacting its market perception.
• The stock is currently trading at $10.66, with a consensus price target of $12.55 and a market capitalization of $782.12 million.
• Significant insider activity is noted, with CTO Gaurav Singal selling 200,000 shares, reducing their ownership by 83.15%, while institutional investors have been increasing their stakes in the company.

Cantaloupe (NASDAQ:CTLP - Get Free Report)'s stock had its "hold (c+)" rating reissued by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research firms also recently commented on CTLP. Benchmark downgraded shares of Cantaloupe from a "buy" rating to a "hold" rating in a research report on Tuesday, June 17th. William Blair downgraded shares of Cantaloupe from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Craig Hallum downgraded shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. B. Riley downgraded shares of Cantaloupe from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $11.50 to $11.20 in a research report on Tuesday, June 17th. Finally, Barrington Research downgraded shares of Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, June 16th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $12.55.

Cantaloupe Stock Performance

NASDAQ:CTLP traded up $0.04 during mid-day trading on Wednesday, hitting $10.66. The stock had a trading volume of 872,516 shares, compared to its average volume of 1,251,472. The stock has a market capitalization of $782.12 million, a price-to-earnings ratio of 13.49 and a beta of 1.07. The company has a 50 day simple moving average of $10.82 and a 200-day simple moving average of $9.71. Cantaloupe has a 52 week low of $7.01 and a 52 week high of $11.36. The company has a current ratio of 1.86, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15.

Insider Buying and Selling at Cantaloupe

In other news, CTO Gaurav Singal sold 200,000 shares of Cantaloupe 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 transaction, the chief technology officer directly owned 40,533 shares of the company's stock, valued at $430,865.79. This trade represents a 83.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in 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 purchasing an additional 14,747 shares in the last quarter. Magnetar Financial LLC grew its position in Cantaloupe by 10,162.7% in the second quarter. Magnetar Financial LLC now owns 3,257,595 shares of the technology company's stock worth $35,801,000 after acquiring an additional 3,225,853 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in 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 acquiring an additional 1,191,748 shares in the last quarter. Beryl Capital Management LLC bought a new stake in Cantaloupe in the second quarter worth approximately $27,709,000. Finally, Alliancebernstein L.P. grew its position in Cantaloupe by 3,808.0% in the second quarter. Alliancebernstein L.P. now owns 1,740,226 shares of the technology company's stock worth $19,125,000 after acquiring an additional 1,695,696 shares in the last quarter. 75.75% of the stock is 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.

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