Hudson Bay Capital Management LP Invests $16.43 Million in Cantaloupe, Inc. $CTLP

Key Points

• Hudson Bay Capital Management bought a new stake of 1,554,659 shares (~$16.43 million), representing about 2.11% of Cantaloupe during Q3 per its 13F filing.
• Cantaloupe recently missed quarterly estimates, reporting $0.04 EPS vs. $0.10 expected and $78.71M revenue vs. $84.92M, and holds a consensus "Hold" rating with an average target of $12.60 while shares trade near $10.47 (market cap ≈ $772M).
• Institutional ownership is high at about 75.75%, with multiple firms (Magnetar, Beryl, AllianceBernstein, Qube, Disciplined Growth) significantly increasing their positions in recent quarters.

Hudson Bay Capital Management LP bought a new stake in shares of Cantaloupe, Inc. (NASDAQ:CTLP - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,554,659 shares of the technology company's stock, valued at approximately $16,433,000. Hudson Bay Capital Management LP owned approximately 2.11% of Cantaloupe at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Magnetar Financial LLC increased its stake in Cantaloupe by 10,162.7% during the second quarter. Magnetar Financial LLC now owns 3,257,595 shares of the technology company's stock worth $35,801,000 after acquiring an additional 3,225,853 shares during the last quarter. Beryl Capital Management LLC purchased a new stake in Cantaloupe during the second quarter valued at approximately $27,709,000. Alliancebernstein L.P. lifted its stake in shares of Cantaloupe by 3,808.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,740,226 shares of the technology company's stock valued at $19,125,000 after purchasing an additional 1,695,696 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Cantaloupe by 346.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,936,945 shares of the technology company's stock valued at $20,474,000 after purchasing an additional 1,503,453 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in shares of Cantaloupe by 60.1% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 3,173,351 shares of the technology company's stock worth $34,875,000 after purchasing an additional 1,191,748 shares during the period. Institutional investors own 75.75% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wall Street Zen raised Cantaloupe to a "hold" rating in a research report on Saturday, February 21st. Weiss Ratings raised shares of Cantaloupe from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Cantaloupe presently has a consensus rating of "Hold" and an average target price of $12.60.

Cantaloupe Stock Down 0.8%

Shares of NASDAQ CTLP opened at $10.47 on Friday. Cantaloupe, Inc. has a 1 year low of $7.01 and a 1 year high of $11.16. The firm has a 50-day simple moving average of $10.54 and a two-hundred day simple moving average of $10.60. The company has a market cap of $771.85 million, a P/E ratio of 58.17 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.92 and a quick ratio of 1.31.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last released its earnings results on Friday, February 6th. The technology company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). Cantaloupe had a net margin of 17.32% and a return on equity of 8.76%. The business had revenue of $78.71 million for the quarter, compared to the consensus estimate of $84.92 million. Research analysts anticipate that Cantaloupe, Inc. will post 0.32 earnings per share for the current year.

Cantaloupe Company Profile

Cantaloupe, Inc NASDAQ: CTLP, formerly known as USA Technologies, is a provider of cashless payment and point-of-sale solutions for the unattended retail market. The company develops and distributes IoT-enabled hardware and software that enable vending machines, kiosks, micro markets, laundry machines and other self-service devices to accept credit and debit cards, mobile wallets and contactless payments. Its ePort® terminals integrate with back-end systems to process transactions securely and comply with the latest EMV and PCI standards.

At the core of Cantaloupe’s offering is its cloud-based ePort Connect® platform, which facilitates real-time remote monitoring, device management and data analytics.

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