Crescent Grove Advisors LLC Acquires New Holdings in CareCloud, Inc. (NASDAQ:CCLD)

Crescent Grove Advisors LLC acquired a new stake in CareCloud, Inc. (NASDAQ:CCLD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 179,936 shares of the company's stock, valued at approximately $250,000. Crescent Grove Advisors LLC owned approximately 0.43% of CareCloud at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CCLD. Johnson Investment Counsel Inc. acquired a new position in CareCloud during the 1st quarter worth approximately $70,000. Renaissance Technologies LLC raised its stake in shares of CareCloud by 7.0% during the fourth quarter. Renaissance Technologies LLC now owns 124,100 shares of the company's stock valued at $454,000 after purchasing an additional 8,100 shares during the period. Two Sigma Advisers LP purchased a new stake in shares of CareCloud during the fourth quarter valued at approximately $81,000. Heron Bay Capital Management lifted its position in shares of CareCloud by 48.5% during the fourth quarter. Heron Bay Capital Management now owns 101,119 shares of the company's stock worth $370,000 after purchasing an additional 33,033 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of CareCloud in the fourth quarter valued at $252,000. Hedge funds and other institutional investors own 10.16% of the company's stock.

CareCloud Stock Up 7.9%

Shares of CCLD traded up $0.18 during midday trading on Wednesday, hitting $2.45. The company had a trading volume of 244,753 shares, compared to its average volume of 399,948. The stock has a market cap of $103.68 million, a price-to-earnings ratio of -11.14 and a beta of 2.06. The company's 50 day moving average price is $2.09 and its 200 day moving average price is $2.52. CareCloud, Inc. has a 52 week low of $1.14 and a 52 week high of $4.84.

CareCloud (NASDAQ:CCLD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.04). CareCloud had a net margin of 8.92% and a return on equity of 24.08%. The firm had revenue of $27.60 million during the quarter, compared to the consensus estimate of $25.94 million. Equities analysts anticipate that CareCloud, Inc. will post 0.58 EPS for the current fiscal year.

Insider Transactions at CareCloud

In other CareCloud news, Director John N. Daly sold 15,000 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $2.11, for a total transaction of $31,650.00. Following the completion of the sale, the director owned 61,750 shares in the company, valued at $130,292.50. The trade was a 19.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 14.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CCLD. Roth Mkm reaffirmed a "neutral" rating and set a $1.50 price target (down previously from $3.50) on shares of CareCloud in a research note on Friday, March 14th. Roth Capital reaffirmed a "neutral" rating on shares of CareCloud in a research report on Tuesday, May 6th.

CareCloud Profile

CareCloud, Inc, a healthcare information technology (IT) company, provides a suite of cloud-based solutions and related business services to healthcare providers and hospitals primarily in the United States. It operates in two segments, Healthcare IT and Medical Practice Management. The company's portfolio of proprietary software and business services includes technology-enabled business solutions; cloud-based software; digital health services; healthcare IT professional services and staffing; and medical practice management services.