CoreCard (NYSE:CCRD) Stock Price Down 2.5% - Here's Why

CoreCard Corporation (NYSE:CCRD - Get Free Report)'s share price traded down 2.5% during mid-day trading on Friday . The stock traded as low as $27.74 and last traded at $28.11. 761,585 shares changed hands during trading, an increase of 1,778% from the average session volume of 40,563 shares. The stock had previously closed at $28.83.

CoreCard Stock Down 0.1%

The company has a debt-to-equity ratio of 0.03, a current ratio of 4.96 and a quick ratio of 4.96. The company has a market capitalization of $225.45 million, a PE ratio of 33.65 and a beta of 0.70. The business's 50 day simple moving average is $25.22 and its 200 day simple moving average is $22.57.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Two Sigma Investments LP increased its stake in CoreCard by 18.5% during the fourth quarter. Two Sigma Investments LP now owns 48,638 shares of the company's stock worth $1,104,000 after acquiring an additional 7,599 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of CoreCard during the 4th quarter worth about $349,000. Two Sigma Advisers LP increased its position in shares of CoreCard by 52.9% during the 4th quarter. Two Sigma Advisers LP now owns 50,000 shares of the company's stock worth $1,135,000 after purchasing an additional 17,300 shares during the last quarter. Citadel Advisors LLC raised its holdings in CoreCard by 349.4% in the 4th quarter. Citadel Advisors LLC now owns 61,123 shares of the company's stock valued at $1,387,000 after buying an additional 47,523 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in CoreCard in the fourth quarter valued at about $416,000. 43.90% of the stock is currently owned by hedge funds and other institutional investors.

About CoreCard

CoreCard Corporation, together with its subsidiaries, offers technology solutions and processing services to the financial technology and services market in the United States, Europe, and the Middle East. It designs, develops, and markets a suite of software solutions to program managers, accounts receivable businesses, financial institutions, retailers, and processors to manage their credit and debit cards, prepaid cards, private label cards, fleet cards, buy now pay later programs, loyalty programs, and accounts receivable and loan transactions.