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

A number of other hedge funds have also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cantaloupe by 5.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,263 shares of the technology company's stock valued at $238,000 after purchasing an additional 1,622 shares during the last quarter. Rhumbline Advisers increased its position in Cantaloupe by 3.4% during the 1st quarter. Rhumbline Advisers now owns 83,698 shares of the technology company's stock valued at $659,000 after buying an additional 2,725 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cantaloupe by 3.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,719 shares of the technology company's stock valued at $844,000 after buying an additional 2,792 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Cantaloupe by 18.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,283 shares of the technology company's stock worth $212,000 after acquiring an additional 3,462 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Cantaloupe by 8,886.0% in the first quarter. Farther Finance Advisors LLC now owns 4,493 shares of the technology company's stock worth $35,000 after acquiring an additional 4,443 shares in the last quarter. Institutional investors own 75.75% of the company's stock.

Cantaloupe Stock Performance

NASDAQ:CTLP traded up $0.01 during trading hours on Monday, reaching $10.91. The company had a trading volume of 396,238 shares, compared to its average volume of 1,074,256. The firm has a market cap of $799.23 million, a price-to-earnings ratio of 13.80 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. The firm's 50 day moving average price is $10.66 and its 200-day moving average price is $9.26. Cantaloupe, Inc. has a 52 week low of $5.82 and a 52 week high of $11.36.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last posted 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). The firm had revenue of $75.43 million for the quarter, compared to analysts' expectations of $79.83 million. Cantaloupe had a net margin of 20.47% and a return on equity of 9.02%. On average, analysts forecast that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. William Blair lowered Cantaloupe from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Benchmark downgraded shares of Cantaloupe from a "buy" rating to a "hold" rating in a research note on Tuesday, June 17th. B. Riley cut shares of Cantaloupe from a "buy" rating to a "neutral" rating and cut their price target for the company from $11.50 to $11.20 in a report on Tuesday, June 17th. Wall Street Zen lowered shares of Cantaloupe from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Northland Capmk downgraded Cantaloupe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $12.24.

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.