Insider Buying: Cantaloupe, Inc. (NASDAQ:CTLP) Director Buys 36,000 Shares of Stock

Cantaloupe, Inc. (NASDAQ:CTLP) Director Douglas Bergeron bought 36,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 462,319 shares of the company’s stock, valued at approximately $3,425,783.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Douglas Bergeron also recently made the following trade(s):

• On Thursday, September 26th, Douglas Bergeron purchased 13,866 shares of Cantaloupe stock. The shares were acquired at an average cost of $7.15 per share, with a total value of $99,141.90.

Cantaloupe Stock Down 0.5 %

Shares of CTLP stock opened at $7.83 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 1.10. Cantaloupe, Inc. has a one year low of $5.74 and a one year high of $8.21. The company’s fifty day moving average price is $6.92 and its 200-day moving average price is $6.67. The company has a market capitalization of $570.10 million, a price-to-earnings ratio of 48.94 and a beta of 1.70.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings results on Tuesday, September 10th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $76.14 million. During the same period in the prior year, the business earned $0.04 earnings per share. Sell-side analysts expect that Cantaloupe, Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CTLP. Northland Securities restated an “outperform” rating and set a $10.00 target price on shares of Cantaloupe in a research report on Friday, July 12th. Craig Hallum cut their price objective 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. Barrington Research reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Cantaloupe in a report on Friday, September 13th. Finally, Benchmark reissued a “buy” rating and set a $10.00 price target on shares of Cantaloupe in a report on Wednesday, September 11th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CTLP. ARS Investment Partners LLC grew its holdings in Cantaloupe by 3.4% during the 2nd quarter. ARS Investment Partners LLC now owns 50,059 shares of the technology company’s stock valued at $330,000 after buying an additional 1,650 shares in the last quarter. ClariVest Asset Management LLC grew its stake in Cantaloupe by 2.8% during the second quarter. ClariVest Asset Management LLC now owns 112,469 shares of the technology company’s stock valued at $742,000 after acquiring an additional 3,011 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Cantaloupe by 23.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company’s stock valued at $111,000 after acquiring an additional 3,197 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Cantaloupe by 15.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company’s stock worth $159,000 after purchasing an additional 3,210 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Cantaloupe by 11.4% during the 1st quarter. Jupiter Asset Management Ltd. now owns 34,558 shares of the technology company’s stock valued at $222,000 after purchasing an additional 3,536 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

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.