Roubaix Capital LLC Purchases 143,444 Shares of Cantaloupe, Inc. $CTLP

Key Points

• Roubaix Capital LLC increased its stake in Cantaloupe, Inc. by 54.5% in the first quarter, acquiring an additional 143,444 shares, bringing its total holdings to 406,405 shares.
• Institutional investors now own 75.75% of Cantaloupe's stock, indicating significant confidence in the company from larger investment firms.
• Recent analyst ratings have downgraded Cantaloupe, with several firms shifting their ratings from "buy" or "strong-buy" to "hold," reflecting a more cautious outlook for the stock.

Roubaix Capital LLC grew its position in shares of Cantaloupe, Inc. (NASDAQ:CTLP - Free Report) by 54.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 406,405 shares of the technology company's stock after acquiring an additional 143,444 shares during the quarter. Cantaloupe accounts for approximately 1.7% of Roubaix Capital LLC's portfolio, making the stock its 28th largest holding. Roubaix Capital LLC owned about 0.56% of Cantaloupe worth $3,198,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Cantaloupe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 3,553,862 shares of the technology company's stock worth $27,969,000 after acquiring an additional 14,747 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Cantaloupe by 0.7% in the 4th quarter. Deutsche Bank AG now owns 2,966,050 shares of the technology company's stock worth $28,207,000 after buying an additional 20,314 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Cantaloupe by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,231,728 shares of the technology company's stock worth $11,714,000 after buying an additional 68,546 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Cantaloupe by 600.1% in the 4th quarter. Janus Henderson Group PLC now owns 1,085,046 shares of the technology company's stock worth $10,303,000 after buying an additional 930,061 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Cantaloupe by 102.7% in the 4th quarter. Nuveen Asset Management LLC now owns 900,201 shares of the technology company's stock worth $8,561,000 after buying an additional 456,199 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Cantaloupe from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. B. Riley downgraded shares of Cantaloupe from a "buy" rating to a "neutral" rating and cut their price target for the stock from $11.50 to $11.20 in a report on Tuesday, June 17th. William Blair downgraded shares of Cantaloupe from an "outperform" rating to a "market perform" rating in a report on Monday, June 16th. Benchmark downgraded shares of Cantaloupe from a "buy" rating to a "hold" rating in a report on Tuesday, June 17th. Finally, Barrington Research downgraded shares of Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a report on Monday, June 16th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Cantaloupe currently has a consensus rating of "Hold" and an average price target of $12.24.

Cantaloupe Stock Performance

Cantaloupe stock traded up $0.0050 during midday trading on Friday, reaching $10.8850. The stock had a trading volume of 420,786 shares, compared to its average volume of 1,138,645. Cantaloupe, Inc. has a 12 month low of $5.82 and a 12 month high of $11.36. The firm's 50-day moving average price is $10.99 and its 200 day moving average price is $9.41. The firm has a market capitalization of $797.75 million, a PE ratio of 13.78 and a beta of 1.18. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 0.15.

Cantaloupe 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.