Credit Industriel ET Commercial Takes $1.13 Million Position in Cantaloupe, Inc. $CTLP

Key Points

• Credit Industriel ET Commercial has acquired a new stake in Cantaloupe, Inc. (NASDAQ: CTLP), purchasing approximately $1.13 million worth of shares, constituting 0.14% of the company.
• Recent analysis shows a trend of analysts downgrading Cantaloupe’s stock ratings, with reports from William Blair and B. Riley suggesting a shift from "outperform" to "hold" ratings.
• Insider trading activity was noted, with CTO Gaurav Singal selling 200,000 shares valued at over $2.1 million, significantly reducing his ownership stake in the company.

Credit Industriel ET Commercial purchased a new stake in shares of Cantaloupe, Inc. (NASDAQ:CTLP - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 102,480 shares of the technology company's stock, valued at approximately $1,126,000. Credit Industriel ET Commercial owned 0.14% of Cantaloupe at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake 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 purchasing an additional 2,725 shares during the period. Farther Finance Advisors LLC raised its position in Cantaloupe by 62.4% during the second quarter. Farther Finance Advisors LLC now owns 7,296 shares of the technology company's stock valued at $80,000 after buying an additional 2,803 shares during the period. Roubaix Capital LLC raised its position in Cantaloupe by 54.5% during the first quarter. Roubaix Capital LLC now owns 406,405 shares of the technology company's stock valued at $3,198,000 after buying an additional 143,444 shares during the period. New York State Common Retirement Fund raised its position in Cantaloupe by 57.1% during the first quarter. New York State Common Retirement Fund now owns 12,384 shares of the technology company's stock valued at $97,000 after buying an additional 4,500 shares during the period. Finally, Magnetar Financial LLC acquired a new position in Cantaloupe during the first quarter valued at $250,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Cantaloupe Trading Up 0.2%

NASDAQ:CTLP opened at $10.59 on Tuesday. The stock's 50 day moving average price is $10.78 and its 200 day moving average price is $9.80. Cantaloupe, Inc. has a 52 week low of $7.01 and a 52 week high of $11.36. The company has a market capitalization of $776.99 million, a P/E ratio of 13.41 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 1.86.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CTLP shares. William Blair downgraded Cantaloupe from an "outperform" rating to a "market perform" rating in a report on Monday, June 16th. Northland Capmk lowered shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cantaloupe in a research note on Wednesday, October 8th. B. Riley lowered shares of Cantaloupe from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $11.50 to $11.20 in a research note on Tuesday, June 17th. Finally, Craig Hallum downgraded shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. One equities 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, the stock has an average rating of "Hold" and an average price target of $12.55.

Insider Activity at Cantaloupe

In other Cantaloupe news, CTO Gaurav Singal sold 200,000 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $10.63, for a total transaction 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 represents a 83.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.30% of the stock is currently owned by company insiders.

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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