Short Interest in CoreCard Co. (NYSE:CCRD) Rises By 6.9%

CoreCard Co. (NYSE:CCRD) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 620,300 shares, an increase of 6.9% from the March 15th total of 580,200 shares. Based on an average trading volume of 37,900 shares, the days-to-cover ratio is currently 16.4 days. Approximately 10.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in shares of CoreCard in the second quarter worth $28,000. Lazard Asset Management LLC grew its position in CoreCard by 183.0% during the fourth quarter. Lazard Asset Management LLC now owns 1,316 shares of the company’s stock valued at $38,000 after buying an additional 851 shares during the period. Tower Research Capital LLC TRC grew its position in CoreCard by 1,778.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,559 shares of the company’s stock valued at $47,000 after buying an additional 1,476 shares during the period. BNP Paribas Arbitrage SA acquired a new stake in CoreCard during the second quarter valued at $51,000. Finally, UBS Group AG acquired a new stake in CoreCard during the fourth quarter valued at $54,000. Institutional investors and hedge funds own 43.90% of the company’s stock.

CoreCard Stock Performance

NYSE:CCRD traded up $2.52 during trading hours on Wednesday, hitting $13.14. 122,072 shares of the company were exchanged, compared to its average volume of 33,698. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.66 and a quick ratio of 4.66. CoreCard has a 52-week low of $10.02 and a 52-week high of $29.32. The stock has a market capitalization of $107.22 million, a price-to-earnings ratio of 32.85 and a beta of 0.36. The company’s 50 day moving average price is $11.47 and its 200-day moving average price is $14.01.

CoreCard (NYSE:CCRD) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. CoreCard had a net margin of 6.06% and a return on equity of 8.12%. The business had revenue of $12.16 million for the quarter, compared to analyst estimates of $12.60 million. As a group, research analysts forecast that CoreCard will post 0.12 earnings per share for the current year.

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.