Insider Selling: CareCloud, Inc. (NASDAQ:CCLD) Director Sells 15,000 Shares of Stock

CareCloud, Inc. (NASDAQ:CCLD - Get Free Report) Director John N. Daly sold 15,000 shares of CareCloud stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $2.11, for a total value of $31,650.00. Following the transaction, the director now owns 61,750 shares in the company, valued at $130,292.50. This represents a 19.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

CareCloud Stock Up 7.2%

Shares of NASDAQ:CCLD traded up $0.17 during trading on Wednesday, reaching $2.52. 1,481,573 shares of the company traded hands, compared to its average volume of 383,738. The firm has a fifty day simple moving average of $1.90 and a 200 day simple moving average of $2.62. CareCloud, Inc. has a 1-year low of $1.14 and a 1-year high of $4.84. The firm has a market cap of $106.65 million, a P/E ratio of -11.45 and a beta of 2.05.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CCLD. Roth Capital restated a "neutral" rating on shares of CareCloud in a research report on Tuesday, May 6th. Roth Mkm reissued a "neutral" rating and issued a $1.50 price target (down from $3.50) on shares of CareCloud in a research report on Friday, March 14th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CCLD. Empowered Funds LLC lifted its holdings in shares of CareCloud by 51.2% during the 4th quarter. Empowered Funds LLC now owns 61,240 shares of the company's stock valued at $224,000 after buying an additional 20,750 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in CareCloud in the fourth quarter worth approximately $252,000. Heron Bay Capital Management raised its position in CareCloud by 48.5% during the fourth quarter. Heron Bay Capital Management now owns 101,119 shares of the company's stock valued at $370,000 after acquiring an additional 33,033 shares in the last quarter. Renaissance Technologies LLC raised its position in 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 acquiring an additional 8,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in CareCloud by 31.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,096 shares of the company's stock valued at $55,000 after acquiring an additional 3,641 shares during the last quarter. 10.16% of the stock is owned by institutional investors and hedge funds.

About CareCloud

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.

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