Cantaloupe (NASDAQ:CTLP) Receives Buy Rating from Benchmark

Benchmark reissued their buy rating on shares of Cantaloupe (NASDAQ:CTLP) in a report published on Monday, Benzinga reports. The brokerage currently has a $10.00 price target on the technology company’s stock.

Separately, Barrington Research reaffirmed an outperform rating and set a $10.00 price objective on shares of Cantaloupe in a research note on Wednesday, February 14th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $9.70.

Cantaloupe Price Performance

Shares of NASDAQ CTLP opened at $6.46 on Monday. Cantaloupe has a twelve month low of $5.27 and a twelve month 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. The company has a market capitalization of $470.29 million, a price-to-earnings ratio of 34.00 and a beta of 1.55. The firm has a 50-day moving average of $6.52 and a two-hundred day moving average of $6.73.

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, beating analysts’ consensus estimates of $0.02 by $0.02. Cantaloupe had a net margin of 5.90% and a return on equity of 8.95%. The company had revenue of $65.36 million during the quarter, compared to the consensus estimate of $66.92 million. As a group, analysts expect that Cantaloupe will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Cantaloupe

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

Hedge Funds Weigh In On Cantaloupe

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Cantaloupe by 2.7% in the second quarter. BlackRock Inc. now owns 4,054,699 shares of the technology company’s stock worth $32,275,000 after buying an additional 106,128 shares during the last quarter. Vanguard Group Inc. increased its holdings in Cantaloupe by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 3,416,449 shares of the technology company’s stock worth $25,316,000 after buying an additional 84,669 shares during the last quarter. Nierenberg Investment Management Company Inc. increased its holdings in Cantaloupe by 0.4% in the fourth quarter. Nierenberg Investment Management Company Inc. now owns 2,641,658 shares of the technology company’s stock worth $19,575,000 after buying an additional 10,222 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Cantaloupe by 14.3% in the third quarter. Deutsche Bank AG now owns 2,029,926 shares of the technology company’s stock worth $12,687,000 after buying an additional 254,203 shares during the last quarter. Institutional investors and hedge funds 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.