CoreCard’s (CCRD) Neutral Rating Reaffirmed at B. Riley

CoreCard (NYSE:CCRD)‘s stock had its “neutral” rating reiterated by B. Riley in a research note issued on Friday,Benzinga reports. They currently have a $21.00 target price on the stock, up from their prior target price of $16.00. B. Riley’s target price would indicate a potential downside of 6.04% from the company’s previous close.

CoreCard Trading Down 2.8 %

CoreCard stock traded down $0.65 during trading on Friday, reaching $22.35. 3,280 shares of the company were exchanged, compared to its average volume of 28,760. The stock’s 50 day simple moving average is $22.65 and its two-hundred day simple moving average is $18.05. The company has a market capitalization of $176.57 million, a P/E ratio of 45.61 and a beta of 0.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.90 and a quick ratio of 4.90. CoreCard has a 52-week low of $10.02 and a 52-week high of $24.97.

CoreCard (NYSE:CCRD) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.07 by $0.17. CoreCard had a return on equity of 7.67% and a net margin of 7.32%. The business had revenue of $14.82 million for the quarter, compared to analyst estimates of $13.40 million. On average, equities research analysts expect that CoreCard will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of CoreCard

A number of hedge funds and other institutional investors have recently made changes to their positions in CCRD. Topline Capital Management LLC purchased a new position in CoreCard in the fourth quarter worth approximately $7,317,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of CoreCard by 160.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 98,841 shares of the company’s stock valued at $2,244,000 after purchasing an additional 60,927 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of CoreCard by 349.4% during the 4th quarter. Citadel Advisors LLC now owns 61,123 shares of the company’s stock worth $1,387,000 after purchasing an additional 47,523 shares during the period. D. E. Shaw & Co. Inc. increased its position in shares of CoreCard by 169.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 30,450 shares of the company’s stock worth $691,000 after purchasing an additional 19,168 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of CoreCard during the 4th quarter worth about $416,000. Institutional investors and hedge funds own 43.90% of the company’s stock.

CoreCard Company Profile

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.