Insider Buying: Cantaloupe, Inc. (NASDAQ:CTLP) Director Buys $266,760.00 in Stock

Cantaloupe, Inc. (NASDAQ:CTLP) Director Douglas Bergeron bought 36,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $7.41 per share, with a total value of $266,760.00. Following the completion of the transaction, the director now owns 462,319 shares in the company, valued at approximately $3,425,783.79. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

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

Cantaloupe Stock Down 0.5 %

NASDAQ:CTLP opened at $7.83 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.10 and a current ratio of 1.49. The firm has a market cap of $570.10 million, a P/E ratio of 48.94 and a beta of 1.70. Cantaloupe, Inc. has a fifty-two week low of $5.74 and a fifty-two week high of $8.21. The firm has a 50-day simple moving average of $6.92 and a two-hundred day simple moving average of $6.67.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Disciplined Growth Investors Inc. MN boosted its position 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 buying an additional 14,431 shares during the last quarter. Archon Capital Management LLC boosted its holdings in shares of Cantaloupe by 8.2% during the 1st quarter. Archon Capital Management LLC now owns 1,434,125 shares of the technology company’s stock valued at $9,221,000 after acquiring an additional 108,423 shares during the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Cantaloupe in the second quarter worth approximately $2,276,000. Bank of New York Mellon Corp raised its holdings in shares of Cantaloupe by 10.8% during the second quarter. Bank of New York Mellon Corp now owns 212,891 shares of the technology company’s stock valued at $1,405,000 after purchasing an additional 20,835 shares during the last quarter. Finally, North Star Investment Management Corp. bought a new position in Cantaloupe during the first quarter valued at approximately $1,093,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Northland Securities reiterated an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a research note on Friday, July 12th. Craig Hallum decreased their target price on shares of Cantaloupe from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Benchmark reissued a “buy” rating and issued a $10.00 price target on shares of Cantaloupe in a research report on Wednesday, September 11th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Cantaloupe in a research report on Friday, September 13th.

Cantaloupe Company Profile

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.