Invesco Ltd. Decreases Position in Cantaloupe, Inc. $CTLP

Key Points

• Invesco Ltd. significantly reduced its stake in Cantaloupe, Inc. by 91.9%, owning only 32,033 shares after selling 365,266 shares in the first quarter, resulting in a valuation of $252,000.
• Several other institutional investors have modified their positions, with Farther Finance Advisors LLC increasing its stake by an astonishing 8,886.0% during the same period.
• Analysts are bearish on Cantaloupe, with multiple research firms downgrading the stock to a "hold" or "strong sell" rating, leading to a consensus target price of $12.24.

Invesco Ltd. lowered its stake in shares of Cantaloupe, Inc. (NASDAQ:CTLP - Free Report) by 91.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,033 shares of the technology company's stock after selling 365,266 shares during the period. Invesco Ltd.'s holdings in Cantaloupe were worth $252,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Farther Finance Advisors LLC increased its stake in shares of 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 purchasing an additional 4,443 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Cantaloupe in the fourth quarter worth about $77,000. Bailard Inc. purchased a new position in Cantaloupe in the 1st quarter valued at approximately $87,000. New York State Common Retirement Fund grew its stake in Cantaloupe by 57.1% in the 1st 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 in the last quarter. Finally, ProShare Advisors LLC grew its stake in Cantaloupe by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 16,449 shares of the technology company's stock valued at $156,000 after buying an additional 5,412 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company's stock.

Cantaloupe Stock Down 0.4%

CTLP opened at $10.81 on Monday. The company has a fifty day moving average price of $10.99 and a 200-day moving average price of $9.45. The firm has a market capitalization of $792.26 million, a P/E ratio of 13.68 and a beta of 1.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.79 and a quick ratio of 1.22. Cantaloupe, Inc. has a one year low of $5.82 and a one year high of $11.36.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CTLP shares. Craig Hallum lowered shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Benchmark lowered shares of Cantaloupe from a "buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Barrington Research lowered shares of Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research note 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. Finally, William Blair lowered shares of Cantaloupe from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price 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.

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