B. Riley Downgrades CoreCard (NYSE:CCRD) to Neutral

B. Riley cut shares of CoreCard (NYSE:CCRD) from a buy rating to a neutral rating in a research report sent to investors on Thursday, MarketBeat.com reports. The brokerage currently has $15.00 price target on the stock, down from their prior price target of $19.00.

CoreCard Stock Up 0.7 %

Shares of CCRD opened at $13.51 on Thursday. The company has a quick ratio of 5.08, a current ratio of 5.08 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $13.80 and a 200 day moving average of $13.16. CoreCard has a 52-week low of $10.02 and a 52-week high of $21.93. The company has a market cap of $110.26 million, a PE ratio of 45.03 and a beta of 0.41.

CoreCard (NYSE:CCRD) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $13.80 million during the quarter, compared to the consensus estimate of $12.13 million. CoreCard had a return on equity of 4.87% and a net margin of 3.03%. During the same quarter last year, the company earned $0.22 earnings per share. On average, sell-side analysts expect that CoreCard will post 0.48 EPS for the current year.

Hedge Funds Weigh In On CoreCard

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of CoreCard by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 455,943 shares of the company’s stock worth $5,038,000 after purchasing an additional 3,675 shares during the period. Investors Asset Management of Georgia Inc. GA ADV boosted its position in shares of CoreCard by 0.6% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 307,771 shares of the company’s stock valued at $4,490,000 after acquiring an additional 1,890 shares during the period. Acadian Asset Management LLC lifted its position in CoreCard by 31.3% in the first quarter. Acadian Asset Management LLC now owns 142,431 shares of the company’s stock worth $1,573,000 after purchasing an additional 33,945 shares during the period. Monarch Capital Management Inc. raised its stake in CoreCard by 1.0% during the second quarter. Monarch Capital Management Inc. now owns 92,750 shares of the company’s stock worth $1,353,000 after acquiring an additional 925 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of CoreCard by 3.1% in the second quarter. American Century Companies Inc. now owns 34,920 shares of the company’s stock valued at $509,000 after buying an additional 1,061 shares in the last quarter. 43.90% of the stock is currently owned by institutional investors and hedge funds.

About CoreCard

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.