Heron Bay Capital Management Has $370,000 Stock Position in CareCloud, Inc. (NASDAQ:CCLD)

Heron Bay Capital Management raised its holdings in CareCloud, Inc. (NASDAQ:CCLD) by 48.5% in the 4th quarter, HoldingsChannel reports. The fund owned 101,119 shares of the company’s stock after acquiring an additional 33,033 shares during the period. Heron Bay Capital Management’s holdings in CareCloud were worth $370,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in shares of CareCloud during the third quarter worth $42,000. Empowered Funds LLC lifted its stake in shares of CareCloud by 51.2% in the fourth quarter. Empowered Funds LLC now owns 61,240 shares of the company’s stock valued at $224,000 after buying an additional 20,750 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of CareCloud in the fourth quarter valued at $252,000. 10.16% of the stock is currently owned by institutional investors and hedge funds.

CareCloud Price Performance

CCLD opened at $1.51 on Friday. The company’s 50-day moving average is $3.08 and its 200 day moving average is $3.00. CareCloud, Inc. has a fifty-two week low of $1.01 and a fifty-two week high of $4.84. The firm has a market capitalization of $24.55 million, a P/E ratio of -0.47 and a beta of 1.55.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Roth Mkm reaffirmed a “neutral” rating and issued a $1.50 price objective (down from $3.50) on shares of CareCloud in a research note on Friday, March 14th. Roth Capital set a $1.50 price objective on shares of CareCloud in a research note on Thursday, March 13th.

About CareCloud

CareCloud, Inc, a healthcare information technology (IT) company, provides a suite of cloud-based solutions and related business services to healthcare providers and hospitals primarily in the United States. It operates in two segments, Healthcare IT and Medical Practice Management. The company's portfolio of proprietary software and business services includes technology-enabled business solutions; cloud-based software; digital health services; healthcare IT professional services and staffing; and medical practice management services.