CenterBook Partners LP Increases Position in Cantaloupe, Inc. (NASDAQ:CTLP)

Key Points

• CenterBook Partners LP significantly increased its position in Cantaloupe, Inc. by 528.1% during the first quarter, acquiring a total of 315,015 shares valued at approximately $2.48 million.
• Several institutional investors also increased their stakes in Cantaloupe, with Janus Henderson Group PLC reporting a rise of 600.1% in the fourth quarter, among other notable increases.
• Recent analyst ratings have downgraded Cantaloupe from "strong-buy" to "hold" or "sell," impacting its consensus rating, which now stands at "Hold" with an average price target of $12.24.

CenterBook Partners LP lifted its position in shares of Cantaloupe, Inc. (NASDAQ:CTLP - Free Report) by 528.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 315,015 shares of the technology company's stock after purchasing an additional 264,859 shares during the period. CenterBook Partners LP owned about 0.43% of Cantaloupe worth $2,479,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC grew its holdings in shares of Cantaloupe by 600.1% during the fourth quarter. Janus Henderson Group PLC now owns 1,085,046 shares of the technology company's stock worth $10,303,000 after purchasing an additional 930,061 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Cantaloupe by 102.7% in the 4th quarter. Nuveen Asset Management LLC now owns 900,201 shares of the technology company's stock valued at $8,561,000 after buying an additional 456,199 shares during the period. Invesco Ltd. raised its holdings in Cantaloupe by 1,768.2% during the fourth quarter. Invesco Ltd. now owns 397,299 shares of the technology company's stock worth $3,778,000 after purchasing an additional 376,033 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Cantaloupe by 220.5% in the 4th quarter. JPMorgan Chase & Co. now owns 356,973 shares of the technology company's stock valued at $3,395,000 after buying an additional 245,579 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Cantaloupe by 6.4% during the 4th quarter. Vanguard Group Inc. now owns 3,539,115 shares of the technology company's stock valued at $33,657,000 after acquiring an additional 212,456 shares during the period. Institutional investors and hedge funds own 75.75% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CTLP. Barrington Research lowered shares of Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, June 16th. Craig Hallum lowered Cantaloupe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Northland Capmk lowered shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th. B. Riley downgraded Cantaloupe from a "buy" rating to a "neutral" rating and lowered their target price for the company from $11.50 to $11.20 in a research note on Tuesday, June 17th. Finally, Benchmark cut Cantaloupe from a "buy" rating to a "hold" rating in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Cantaloupe has a consensus rating of "Hold" and an average price target of $12.24.

Cantaloupe Stock Performance

CTLP stock opened at $11.09 on Thursday. The stock's 50 day simple moving average is $10.56 and its 200 day simple moving average is $9.20. Cantaloupe, Inc. has a 12-month low of $5.82 and a 12-month high of $11.36. The firm has a market cap of $812.78 million, a P/E ratio of 14.04 and a beta of 1.18. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 0.15.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). Cantaloupe had a return on equity of 9.02% and a net margin of 20.47%. The company had revenue of $75.43 million for the quarter, compared to the consensus estimate of $79.83 million. As a group, equities research analysts predict that Cantaloupe, Inc. will post 0.32 EPS for the current year.

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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