Towerview LLC Lowers Stake in Cantaloupe, Inc. (NASDAQ:CTLP)

Key Points

• Towerview LLC has reduced its stake in Cantaloupe, Inc. (NASDAQ: CTLP) by 39%, now holding 62,500 shares valued at about $492,000.
• Several institutional investors have recently adjusted their holdings, with Farther Finance Advisors LLC significantly increasing its position by 8,886% in the first quarter.
• Cantaloupe, Inc. missed earnings estimates in its latest quarterly report, posting $0.08 earnings per share against a consensus of $0.10.

Towerview LLC lessened its holdings in Cantaloupe, Inc. (NASDAQ:CTLP - Free Report) by 39.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,500 shares of the technology company's stock after selling 40,000 shares during the period. Cantaloupe accounts for about 0.4% of Towerview LLC's investment portfolio, making the stock its 19th biggest holding. Towerview LLC owned approximately 0.09% of Cantaloupe worth $492,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CTLP. Rhumbline Advisers lifted its position in Cantaloupe by 3.4% during the 1st quarter. Rhumbline Advisers now owns 83,698 shares of the technology company's stock worth $659,000 after acquiring an additional 2,725 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Cantaloupe by 3.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,719 shares of the technology company's stock worth $844,000 after acquiring an additional 2,792 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Cantaloupe by 18.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,283 shares of the technology company's stock worth $212,000 after acquiring an additional 3,462 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Cantaloupe by 8,886.0% during the 1st quarter. Farther Finance Advisors LLC now owns 4,493 shares of the technology company's stock worth $35,000 after acquiring an additional 4,443 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in Cantaloupe by 57.1% during the 1st quarter. New York State Common Retirement Fund now owns 12,384 shares of the technology company's stock worth $97,000 after acquiring an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Northland Capmk lowered shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Barrington Research downgraded shares of Cantaloupe from a "strong-buy" rating to a "strong sell" 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. William Blair downgraded shares of Cantaloupe from an "outperform" rating to a "market perform" rating in a report on Monday, June 16th. Finally, B. Riley downgraded shares of Cantaloupe from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $11.50 to $11.20 in a report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.24.

Cantaloupe Trading Up 0.0%

Shares of CTLP stock traded up $0.01 during trading hours on Monday, hitting $11.09. 1,434,825 shares of the company's stock traded hands, compared to its average volume of 1,003,542. The stock's 50 day simple moving average is $10.15 and its 200 day simple moving average is $9.06. The stock has a market cap of $809.85 million, a PE ratio of 14.04 and a beta of 1.17. Cantaloupe, Inc. has a 12 month low of $5.82 and a 12 month high of $11.36. 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 (NASDAQ:CTLP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). Cantaloupe had a net margin of 20.47% and a return on equity of 9.02%. The business had revenue of $75.43 million during the quarter, compared to the consensus estimate of $79.83 million. On average, sell-side analysts anticipate that Cantaloupe, Inc. will post 0.32 EPS for the current year.

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.