Short Interest in CPI Card Group Inc. (NASDAQ:PMTS) Drops By 29.2%

CPI Card Group Inc. (NASDAQ:PMTS) was the recipient of a significant drop in short interest in January. As of January 31st, there was short interest totalling 71,600 shares, a drop of 29.2% from the January 15th total of 101,200 shares. Based on an average trading volume of 37,200 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.2% of the company’s stock are short sold.

Wall Street Analyst Weigh In

PMTS has been the topic of several recent analyst reports. Lake Street Capital increased their price objective on CPI Card Group from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. DA Davidson began coverage on CPI Card Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $36.00 target price on the stock. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CPI Card Group presently has a consensus rating of “Buy” and a consensus target price of $37.67.

CPI Card Group Stock Down 0.3 %

NASDAQ:PMTS traded down $0.10 on Friday, hitting $29.08. The stock had a trading volume of 10,305 shares, compared to its average volume of 29,990. The stock has a market cap of $324.53 million, a price-to-earnings ratio of 22.20 and a beta of 1.43. The business’s 50-day simple moving average is $30.77 and its two-hundred day simple moving average is $28.03. CPI Card Group has a 52-week low of $15.00 and a 52-week high of $35.19.

Insider Activity

In other CPI Card Group news, Director H Sanford Riley acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were bought at an average cost of $32.51 per share, with a total value of $65,020.00. Following the completion of the transaction, the director now directly owns 9,500 shares of the company’s stock, valued at approximately $308,845. This represents a 26.67 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PMTS. Russell Investments Group Ltd. lifted its position in shares of CPI Card Group by 1,635.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,649 shares of the company’s stock valued at $49,000 after buying an additional 1,554 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of CPI Card Group by 44.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,503 shares of the company’s stock valued at $75,000 after buying an additional 776 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of CPI Card Group by 355.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,665 shares of the company’s stock valued at $80,000 after buying an additional 2,080 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of CPI Card Group by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 2,939 shares of the company’s stock valued at $82,000 after buying an additional 1,656 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of CPI Card Group by 96.6% during the 4th quarter. IFP Advisors Inc now owns 3,048 shares of the company’s stock valued at $91,000 after buying an additional 1,498 shares in the last quarter. 22.08% of the stock is owned by hedge funds and other institutional investors.

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.