Federated Hermes Inc. Decreases Stock Position in Cantaloupe, Inc. (NASDAQ:CTLP)

Federated Hermes Inc. lessened its stake in Cantaloupe, Inc. (NASDAQ:CTLP) by 13.9% in the fourth quarter, Holdings Channel reports. The fund owned 311,599 shares of the technology company’s stock after selling 50,451 shares during the quarter. Federated Hermes Inc.’s holdings in Cantaloupe were worth $2,309,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. New York State Teachers Retirement System purchased a new position in shares of Cantaloupe during the 4th quarter valued at approximately $38,000. Fox Run Management L.L.C. purchased a new position in shares of Cantaloupe during the 3rd quarter valued at approximately $73,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Cantaloupe during the 3rd quarter valued at approximately $86,000. SG Americas Securities LLC purchased a new position in shares of Cantaloupe during the 3rd quarter valued at approximately $95,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of Cantaloupe during the 3rd quarter valued at approximately $98,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Insiders Place Their Bets

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

Cantaloupe Stock Performance

Shares of CTLP opened at $5.80 on Monday. The business’s fifty day moving average price is $6.31 and its 200 day moving average price is $6.68. Cantaloupe, Inc. has a 12-month low of $5.36 and a 12-month high of $8.28. The stock has a market capitalization of $422.24 million, a PE ratio of 30.53 and a beta of 1.55. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.64 and a quick ratio of 1.20.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CTLP. Benchmark reiterated a “buy” rating and set a $10.00 target price on shares of Cantaloupe in a research note on Monday, March 25th. Barrington Research reiterated an “outperform” rating and set a $10.00 target price on shares of Cantaloupe in a research note on Wednesday, February 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cantaloupe presently has an average rating of “Buy” and an average target price of $9.70.

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.