Weiss Ratings Reaffirms "Hold (C)" Rating for CoreCard (NYSE:CCRD)

Key Points

• Weiss Ratings has reaffirmed a "hold (C)" rating for CoreCard (NYSE:CCRD) as of Wednesday, indicating a cautious stance on the stock's performance.
• CoreCard's stock showed a modest increase of $0.10, closing at $26.69, with a 12-month trading range between $12.12 and $31.99.
• Significant increases in ownership stakes by institutional investors, including Osaic Holdings and Lazard Asset Management, reflect a growing interest in CoreCard as 43.90% of its shares are held by institutional entities.

CoreCard (NYSE:CCRD - Get Free Report)'s stock had its "hold (c)" rating reissued by investment analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

CoreCard Stock Performance

CCRD traded up $0.10 on Wednesday, reaching $26.69. The stock had a trading volume of 21,052 shares, compared to its average volume of 35,475. CoreCard has a 12-month low of $12.12 and a 12-month high of $31.99. The company has a current ratio of 4.96, a quick ratio of 4.96 and a debt-to-equity ratio of 0.03. The business's 50-day moving average price is $27.33 and its two-hundred day moving average price is $25.33. The company has a market cap of $207.92 million, a P/E ratio of 26.96 and a beta of 0.68.

Institutional Trading of CoreCard

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. increased its stake in shares of CoreCard by 191.6% during the second quarter. Osaic Holdings Inc. now owns 1,560 shares of the company's stock worth $45,000 after purchasing an additional 1,025 shares in the last quarter. Monarch Capital Management Inc. increased its stake in shares of CoreCard by 3.4% during the second quarter. Monarch Capital Management Inc. now owns 101,425 shares of the company's stock worth $2,938,000 after purchasing an additional 3,375 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of CoreCard by 235.6% during the second quarter. Lazard Asset Management LLC now owns 15,435 shares of the company's stock worth $447,000 after purchasing an additional 10,836 shares in the last quarter. Curi Capital LLC increased its stake in shares of CoreCard by 24.6% during the second quarter. Curi Capital LLC now owns 14,200 shares of the company's stock worth $411,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of CoreCard by 256.3% during the second quarter. Bank of America Corp DE now owns 3,766 shares of the company's stock worth $109,000 after purchasing an additional 2,709 shares in the last quarter. Hedge funds and other institutional investors own 43.90% of the company's stock.

About CoreCard

CoreCard Corporation, together with its subsidiaries, offers technology solutions and processing services to the financial technology and services market in the United States, Europe, and the Middle East. It designs, develops, and markets a suite of software solutions to program managers, accounts receivable businesses, financial institutions, retailers, and processors to manage their credit and debit cards, prepaid cards, private label cards, fleet cards, buy now pay later programs, loyalty programs, and accounts receivable and loan transactions.

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