CPI Card Group (NASDAQ:PMTS) Research Coverage Started at DA Davidson

DA Davidson assumed coverage on shares of CPI Card Group (NASDAQ:PMTS) in a report issued on Friday morning, MarketBeat reports. The brokerage issued a buy rating and a $36.00 target price on the stock.

Separately, Lake Street Capital lifted their price objective on shares of CPI Card Group from $22.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $36.33.

CPI Card Group Stock Up 4.1 %

Shares of CPI Card Group stock opened at $29.75 on Friday. The stock has a market cap of $331.98 million, a P/E ratio of 22.71 and a beta of 1.21. CPI Card Group has a 12-month low of $15.00 and a 12-month high of $31.00. The business’s 50 day moving average is $25.28 and its 200-day moving average is $26.40.

Insider Buying and Selling

In other CPI Card Group news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $21.00, for a total transaction of $28,980,000.00. Following the completion of the sale, the insider now directly owns 4,813,977 shares in the company, valued at $101,093,517. This trade represents a 22.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sonya Vollmer sold 3,660 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.10, for a total value of $91,866.00. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

Institutional Trading of CPI Card Group

Hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Management LLC increased its position in CPI Card Group by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 2,939 shares of the company’s stock worth $82,000 after buying an additional 1,656 shares during the period. BNP Paribas Financial Markets increased its position in CPI Card Group by 182.9% during the third quarter. BNP Paribas Financial Markets now owns 5,281 shares of the company’s stock worth $147,000 after acquiring an additional 3,414 shares during the period. Rhumbline Advisers raised its stake in CPI Card Group by 32.8% in the 2nd quarter. Rhumbline Advisers now owns 6,302 shares of the company’s stock worth $172,000 after purchasing an additional 1,555 shares in the last quarter. Barclays PLC raised its stake in CPI Card Group by 251.2% in the 3rd quarter. Barclays PLC now owns 7,330 shares of the company’s stock worth $205,000 after purchasing an additional 5,243 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in CPI Card Group in the 3rd quarter valued at about $205,000. 22.08% of the stock is owned by institutional investors and hedge funds.

CPI Card Group Company Profile

CPI Card Group Inc, together with its subsidiaries, engages in the design, production, data personalization, packaging, and fulfillment of financial payment cards. It operates through Debit and Credit, and Prepaid Debit segments. The Debit and Credit segment produces financial payment cards and provides integrated card services to card-issuing financial institutions.