CardConnect Corp (NASDAQ:CCN) Given Average Rating of “Buy” by Brokerages

Shares of CardConnect Corp (NASDAQ:CCN) have been given an average rating of “Buy” by the seven brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $16.17.

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Several analysts have weighed in on the stock. Zacks Investment Research cut shares of CardConnect Corp from a “hold” rating to a “sell” rating in a research note on Monday, April 17th. Cowen and Company lowered shares of CardConnect Corp from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $17.00 to $15.00 in a research report on Tuesday, May 30th. Finally, Craig Hallum lowered shares of CardConnect Corp from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research report on Tuesday, May 30th.

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in CardConnect Corp during the second quarter valued at $547,000. Rhumbline Advisers purchased a new stake in CardConnect Corp during the second quarter valued at $224,000. Schwab Charles Investment Management Inc. purchased a new stake in CardConnect Corp during the second quarter valued at $372,000. Kassirer Asset Management Corp purchased a new stake in CardConnect Corp during the second quarter valued at $301,000. Finally, Havens Advisors LLC purchased a new stake in CardConnect Corp during the second quarter valued at $798,000. Institutional investors own 31.59% of the company’s stock.

Shares of CardConnect Corp (NASDAQ CCN) remained flat at $15.05 during mid-day trading on Tuesday. 80,112 shares of the company were exchanged. CardConnect Corp has a 12-month low of $8.14 and a 12-month high of $15.25. The firm has a 50-day moving average price of $14.69 and a 200 day moving average price of $13.83.

CardConnect Corp (NASDAQ:CCN) last posted its earnings results on Wednesday, May 10th. The business services provider reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.02. The company had revenue of $156.65 million for the quarter, compared to analyst estimates of $41.10 million. Equities research analysts expect that CardConnect Corp will post $0.45 EPS for the current fiscal year.

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CardConnect Corp Company Profile

CardConnect Corp., formerly FinTech Acquisition Corp., is a holding company. The Company holds interests in CardConnect, LLC. The Company is a provider of payment processing solutions to merchants throughout the United States. The Company’s segments include Merchant Acquiring Services and Other. The Company’s platform allows it to provide payment solutions, customer support and tools for its distribution partners and merchants.