CoreCard Co. (NYSE:CCRD) Sees Significant Decline in Short Interest

CoreCard Co. (NYSE:CCRD) saw a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 214,800 shares, a decline of 11.2% from the November 15th total of 241,800 shares. Currently, 3.8% of the shares of the company are short sold. Based on an average daily trading volume, of 34,500 shares, the days-to-cover ratio is presently 6.2 days.

CoreCard Stock Up 1.4 %

Shares of NYSE:CCRD traded up $0.31 during mid-day trading on Tuesday, hitting $22.26. 49,348 shares of the company traded hands, compared to its average volume of 40,386. The firm’s 50 day simple moving average is $17.56 and its 200 day simple moving average is $15.04. The firm has a market cap of $175.88 million, a P/E ratio of 45.43 and a beta of 0.51. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.90 and a current ratio of 4.90. CoreCard has a 52-week low of $10.02 and a 52-week high of $24.22.

Analysts Set New Price Targets

Separately, B. Riley downgraded CoreCard from a “buy” rating to a “neutral” rating and cut their target price for the stock from $19.00 to $15.00 in a research note on Thursday, October 3rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of CoreCard by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 455,943 shares of the company’s stock valued at $5,038,000 after buying an additional 3,675 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in CoreCard by 0.6% during the 2nd 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 last quarter. Monarch Capital Management Inc. grew its holdings in CoreCard by 1.0% during the 2nd 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. American Century Companies Inc. increased its position in shares of CoreCard by 3.1% in the 2nd quarter. American Century Companies Inc. now owns 34,920 shares of the company’s stock worth $509,000 after purchasing an additional 1,061 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of CoreCard in the 2nd quarter valued at about $160,000. 43.90% of the stock is currently owned by hedge funds and other institutional investors.

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.