Cantaloupe, Inc. (NASDAQ:CTLP) Sees Significant Decrease in Short Interest

Cantaloupe, Inc. (NASDAQ:CTLP) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 2,250,000 shares, a decline of 5.5% from the August 31st total of 2,380,000 shares. Based on an average trading volume of 325,200 shares, the days-to-cover ratio is presently 6.9 days. Currently, 3.4% of the shares of the company are sold short.

Insider Buying and Selling at Cantaloupe

In other Cantaloupe news, CEO Ravi Venkatesan bought 8,000 shares of the stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $6.30 per share, with a total value of $50,400.00. Following the acquisition, the chief executive officer now directly owns 136,658 shares of the company’s stock, valued at approximately $860,945.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Ravi Venkatesan purchased 8,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of $6.30 per share, with a total value of $50,400.00. Following the completion of the acquisition, the chief executive officer now owns 136,658 shares in the company, valued at approximately $860,945.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Douglas Bergeron purchased 36,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average cost of $7.41 per share, for a total transaction of $266,760.00. Following the acquisition, the director now owns 462,319 shares of the company’s stock, valued at approximately $3,425,783.79. The disclosure for this purchase can be found here. Insiders have acquired 57,866 shares of company stock valued at $416,302 in the last 90 days. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cantaloupe

Several hedge funds and other institutional investors have recently modified their holdings of the company. Disciplined Growth Investors Inc. MN raised its stake in shares of Cantaloupe by 0.9% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,601,261 shares of the technology company’s stock valued at $10,568,000 after acquiring an additional 14,431 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its stake in shares of Cantaloupe by 7.3% during the second quarter. Susquehanna Fundamental Investments LLC now owns 54,023 shares of the technology company’s stock valued at $357,000 after acquiring an additional 3,690 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Cantaloupe by 15.4% during the second quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company’s stock valued at $159,000 after acquiring an additional 3,210 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Cantaloupe by 163.2% during the second quarter. Squarepoint Ops LLC now owns 31,228 shares of the technology company’s stock valued at $206,000 after acquiring an additional 19,365 shares during the last quarter. Finally, First Eagle Investment Management LLC bought a new position in shares of Cantaloupe during the second quarter valued at about $2,276,000. 75.75% of the stock is owned by institutional investors.

Cantaloupe Stock Up 6.4 %

Shares of NASDAQ:CTLP opened at $7.87 on Wednesday. Cantaloupe has a 52-week low of $5.74 and a 52-week high of $8.21. The firm has a fifty day moving average of $6.91 and a 200 day moving average of $6.66. The firm has a market capitalization of $573.01 million, a PE ratio of 49.19 and a beta of 1.70. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.10 and a current ratio of 1.49.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings results on Tuesday, September 10th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). Cantaloupe had a net margin of 4.47% and a return on equity of 6.83%. The business had revenue of $72.66 million for the quarter, compared to analysts’ expectations of $76.14 million. During the same quarter in the previous year, the company earned $0.04 earnings per share. As a group, research analysts anticipate that Cantaloupe will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CTLP shares. Northland Securities reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a report on Friday, July 12th. Benchmark reiterated a “buy” rating and issued a $10.00 target price on shares of Cantaloupe in a research report on Wednesday, September 11th. Craig Hallum cut their target price on shares of Cantaloupe from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Barrington Research reiterated an “outperform” rating and issued a $10.00 target price on shares of Cantaloupe in a research report on Friday, September 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $10.00.

About Cantaloupe

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.