Separately, Piper Jaffray Cos. initiated coverage on CardConnect Corp. in a research note on Friday, August 12th. They set an overweight rating and a $14.00 price objective on the stock.
Shares of CardConnect Corp. (NYSE:CCN) traded down 1.71% during midday trading on Friday, reaching $9.77. The company had a trading volume of 10,425 shares. The company has a market capitalization of $84.12 million and a P/E ratio of 21.86. CardConnect Corp. has a 52 week low of $8.14 and a 52 week high of $11.56. The company’s 50 day moving average price is $9.99 and its 200-day moving average price is $10.01.
In related news, insider Brian Shanahan acquired 100,000 shares of the stock in a transaction on Friday, July 29th. The shares were bought at an average price of $10.00 per share, with a total value of $1,000,000.00. Following the completion of the purchase, the insider now owns 100,000 shares of the company’s stock, valued at approximately $1,000,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Receive News & Ratings for CardConnect Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CardConnect Corp. and related companies with MarketBeat.com's FREE daily email newsletter.