UBS Group AG Invests $616,000 in CardConnect Corp (CCN)

UBS Group AG acquired a new stake in shares of CardConnect Corp (NASDAQ:CCN) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 46,691 shares of the business services provider’s stock, valued at approximately $616,000. UBS Group AG owned approximately 0.16% of CardConnect Corp at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CCN. Laurion Capital Management LP purchased a new position in shares of CardConnect Corp during the first quarter valued at about $220,000. Spark Investment Management LLC purchased a new position in shares of CardConnect Corp during the first quarter valued at about $227,000. Renaissance Technologies LLC purchased a new position in shares of CardConnect Corp during the fourth quarter valued at about $631,000. Blair William & Co. IL boosted its position in shares of CardConnect Corp by 39.2% in the first quarter. Blair William & Co. IL now owns 375,740 shares of the business services provider’s stock valued at $4,977,000 after buying an additional 105,845 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of CardConnect Corp by 10.4% in the first quarter. Vanguard Group Inc. now owns 470,058 shares of the business services provider’s stock valued at $6,205,000 after buying an additional 44,154 shares in the last quarter. 31.59% of the stock is currently owned by institutional investors.

CardConnect Corp (CCN) remained flat at $15.05 during midday trading on Friday. The stock had a trading volume of 80,112 shares. CardConnect Corp has a one year low of $8.14 and a one year high of $15.25. The firm’s 50-day moving average price is $14.69 and its 200 day moving average price is $13.83.

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Several equities analysts have issued reports on the stock. Cowen and Company cut shares of CardConnect Corp from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $17.00 to $15.00 in a research note on Tuesday, May 30th. Zacks Investment Research upgraded shares of CardConnect Corp from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Tuesday, May 16th. 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $16.17.

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.

Institutional Ownership by Quarter for CardConnect Corp (NASDAQ:CCN)

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