CoreCard (NYSE:CCRD) Downgraded by B. Riley

B. Riley lowered shares of CoreCard (NYSE:CCRD) from a buy rating to a neutral rating in a report published on Thursday, Marketbeat reports. They currently have $15.00 price objective on the stock, down from their prior price objective of $19.00.

CoreCard Price Performance

Shares of CCRD stock opened at $13.51 on Thursday. The firm’s 50 day moving average price is $13.80 and its two-hundred day moving average price is $13.16. The stock has a market cap of $110.26 million, a PE ratio of 45.03 and a beta of 0.41. CoreCard has a 52-week low of $10.02 and a 52-week high of $21.93. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.08 and a current ratio of 5.08.

CoreCard (NYSE:CCRD) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. CoreCard had a return on equity of 4.87% and a net margin of 3.03%. The business had revenue of $13.80 million during the quarter, compared to analysts’ expectations of $12.13 million. During the same period in the previous year, the firm earned $0.22 earnings per share. As a group, analysts forecast that CoreCard will post 0.48 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in CoreCard by 0.8% in the first quarter. Vanguard Group Inc. now owns 455,943 shares of the company’s stock valued at $5,038,000 after purchasing an additional 3,675 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of CoreCard by 31.3% in the 1st quarter. Acadian Asset Management LLC now owns 142,431 shares of the company’s stock valued at $1,573,000 after buying an additional 33,945 shares in the last quarter. Monarch Capital Management Inc. raised its stake in CoreCard by 1.0% during the 2nd quarter. Monarch Capital Management Inc. now owns 92,750 shares of the company’s stock worth $1,353,000 after buying an additional 925 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in CoreCard by 0.6% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 307,771 shares of the company’s stock worth $4,490,000 after acquiring an additional 1,890 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in CoreCard by 46.0% in the second quarter. Victory Capital Management Inc. now owns 5,684 shares of the company’s stock valued at $83,000 after acquiring an additional 1,790 shares during the period. Institutional investors own 43.90% of the company’s stock.

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.