AQR Arbitrage LLC Invests $9.39 Million in Cantaloupe, Inc. $CTLP

AQR Arbitrage LLC acquired a new position in shares of Cantaloupe, Inc. (NASDAQ:CTLP) in the second quarter, HoldingsChannel.com reports. The firm acquired 854,589 shares of the technology company’s stock, valued at approximately $9,392,000.

Other large investors have also recently added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC acquired a new position in shares of Cantaloupe during the 2nd quarter worth about $76,000. Farther Finance Advisors LLC raised its stake in Cantaloupe by 62.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 7,296 shares of the technology company’s stock valued at $80,000 after acquiring an additional 2,803 shares during the period. Summit Securities Group LLC bought a new stake in shares of Cantaloupe during the 1st quarter worth about $96,000. Gamco Investors INC. ET AL bought a new position in shares of Cantaloupe during the second quarter worth approximately $110,000. Finally, AlphaQuest LLC bought a new stake in shares of Cantaloupe in the first quarter valued at about $142,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Insider Activity

In related news, CTO Gaurav Singal sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $10.63, for a total transaction of $2,126,000.00. Following the completion of the transaction, the chief technology officer owned 40,533 shares of the company’s stock, valued at approximately $430,865.79. The trade was a 83.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott Matthew Stewart sold 62,830 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $10.63, for a total transaction of $667,882.90. Following the completion of the transaction, the chief financial officer directly owned 53,009 shares in the company, valued at approximately $563,485.67. The trade was a 54.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 277,374 shares of company stock valued at $2,948,195 in the last quarter. Corporate insiders own 7.10% of the company’s stock.

Cantaloupe Stock Down 0.1%

CTLP opened at $10.61 on Friday. The company’s 50-day moving average is $10.60 and its 200 day moving average is $10.61. The firm has a market capitalization of $781.96 million, a P/E ratio of 50.52 and a beta of 1.14. Cantaloupe, Inc. has a fifty-two week low of $7.01 and a fifty-two week high of $11.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.81 and a quick ratio of 1.28.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CTLP. Zacks Research upgraded shares of Cantaloupe from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Cantaloupe in a research note on Monday. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $12.73.

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.