Cantaloupe, Inc. (NASDAQ:CTLP) Given Average Recommendation of “Buy” by Brokerages

Shares of Cantaloupe, Inc. (NASDAQ:CTLP) have received an average rating of “Buy” from the five ratings firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have covered the stock in the last year is $9.70.

A number of brokerages have recently weighed in on CTLP. Benchmark reaffirmed a “buy” rating and issued a $10.00 price target on shares of Cantaloupe in a research note on Monday, March 25th. Barrington Research reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a research note on Wednesday, February 14th.

Cantaloupe Price Performance

NASDAQ CTLP opened at $6.33 on Friday. The company has a 50-day moving average price of $6.41 and a two-hundred day moving average price of $6.72. The stock has a market cap of $460.82 million, a price-to-earnings ratio of 33.32 and a beta of 1.55. Cantaloupe has a 52 week low of $5.36 and a 52 week high of $8.28. The company has a current ratio of 1.64, a quick ratio of 1.20 and a debt-to-equity ratio of 0.21.

Cantaloupe (NASDAQ:CTLP) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $65.36 million during the quarter, compared to analyst estimates of $66.92 million. Cantaloupe had a net margin of 5.90% and a return on equity of 8.95%. Analysts forecast that Cantaloupe will post 0.17 EPS for the current year.

Insider Activity at Cantaloupe

In related news, major shareholder Hudson Executive Capital Lp sold 90,582 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $6.30, for a total transaction of $570,666.60. Following the completion of the sale, the insider now directly owns 9,270,694 shares of the company’s stock, valued at $58,405,372.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Hudson Executive Capital Lp sold 90,582 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $6.30, for a total transaction of $570,666.60. Following the completion of the sale, the insider now directly owns 9,270,694 shares of the company’s stock, valued at $58,405,372.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ravi Venkatesan bought 7,749 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average cost of $6.45 per share, with a total value of $49,981.05. Following the completion of the purchase, the chief executive officer now owns 128,658 shares of the company’s stock, valued at $829,844.10. The disclosure for this purchase can be found here. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Cantaloupe

Several hedge funds have recently made changes to their positions in CTLP. Swiss National Bank lifted its position in shares of Cantaloupe by 7.1% in the 1st quarter. Swiss National Bank now owns 125,800 shares of the technology company’s stock valued at $852,000 after acquiring an additional 8,300 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Cantaloupe in the 1st quarter valued at approximately $72,000. JPMorgan Chase & Co. lifted its position in shares of Cantaloupe by 20.7% in the 1st quarter. JPMorgan Chase & Co. now owns 27,566 shares of the technology company’s stock valued at $187,000 after acquiring an additional 4,719 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Cantaloupe by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 221,974 shares of the technology company’s stock valued at $1,503,000 after acquiring an additional 2,611 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Cantaloupe by 14.7% in the 1st quarter. Rhumbline Advisers now owns 57,608 shares of the technology company’s stock valued at $390,000 after acquiring an additional 7,401 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

About Cantaloupe

Cantaloupe, Inc, a digital payments and software services company, provides technology solutions for the unattended retail market. The company offers integrated solutions for payments processing, logistics, and back-office management. It also provides ePort, an integrated payment device that is deployed in self-service, unattended market applications, such as vending, micro-markets, amusement, arcade, commercial laundry, air/vacuum, car wash, and others, which facilitates digital payments; and integrated software services for payment or asset tracking devices.