Ulysses Management LLC Reduces Position in Cantaloupe, Inc. (NASDAQ:CTLP)

Ulysses Management LLC lessened its position in shares of Cantaloupe, Inc. (NASDAQ:CTLP) by 76.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 400,000 shares of the technology company’s stock after selling 1,295,018 shares during the quarter. Cantaloupe accounts for about 0.6% of Ulysses Management LLC’s holdings, making the stock its 19th biggest position. Ulysses Management LLC’s holdings in Cantaloupe were worth $3,804,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new position in Cantaloupe during the 4th quarter worth approximately $40,000. Parkside Financial Bank & Trust acquired a new stake in Cantaloupe during the 4th quarter worth approximately $47,000. New York State Common Retirement Fund lifted its position in Cantaloupe by 75.8% during the 4th quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company’s stock worth $75,000 after acquiring an additional 3,400 shares during the period. BNP Paribas Financial Markets acquired a new stake in Cantaloupe during the 4th quarter worth approximately $77,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Cantaloupe during the 4th quarter worth approximately $91,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Cantaloupe Stock Down 2.4%

CTLP opened at $8.29 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 1.12. The business has a 50 day simple moving average of $7.81 and a 200-day simple moving average of $8.74. The stock has a market capitalization of $605.65 million, a P/E ratio of 41.45 and a beta of 1.08. Cantaloupe, Inc. has a 12 month low of $5.82 and a 12 month high of $11.36.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). The business had revenue of $75.43 million during the quarter, compared to analyst estimates of $79.83 million. Cantaloupe had a net margin of 5.40% and a return on equity of 8.36%. On average, equities analysts anticipate that Cantaloupe, Inc. will post 0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on CTLP. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Cantaloupe in a research report on Thursday, March 27th. Benchmark increased their price objective on Cantaloupe from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th.

Cantaloupe 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.