Hedge Funds Wait for the Market to Appreciate this Payment Processor’s Turnaround and Trigger a Re-rating

Shares of Cantaloupe (NASDAQ:CTLP) showed some signs of life in February with a temporary rally, but the stock is now down 19% year to date. Nonetheless, Cantaloupe is up 29% over the past year, but many hedge funds still see room for upside.

Royce Investment Partners highlighted the company in a December note, while Laughing Water Capital presented the bull thesis even earlier, in its July letter to investors. In fact, Laughing Water Capital went on to make Cantaloupe one of its top five positions.

Read hedge fund letters here

Background on Cantaloupe

Previously known as USA Technologies, Cantaloupe provides a suite of networked devices and related wireless credit card payment services. The company also provides control and access...