Bank of New York Mellon Corp Buys 3,158 Shares of CPI Card Group Inc. (NASDAQ:PMTS)

Bank of New York Mellon Corp increased its stake in CPI Card Group Inc. (NASDAQ:PMTS) by 7.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,773 shares of the company’s stock after purchasing an additional 3,158 shares during the quarter. Bank of New York Mellon Corp owned 0.40% of CPI Card Group worth $1,220,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Denali Advisors LLC grew its stake in shares of CPI Card Group by 19.0% during the 1st quarter. Denali Advisors LLC now owns 16,300 shares of the company’s stock valued at $291,000 after purchasing an additional 2,600 shares during the period. Linden Thomas Advisory Services LLC raised its holdings in CPI Card Group by 10.2% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 24,653 shares of the company’s stock worth $672,000 after purchasing an additional 2,283 shares during the period. Finally, Vanguard Group Inc. grew its holdings in CPI Card Group by 3.1% during the first quarter. Vanguard Group Inc. now owns 340,945 shares of the company’s stock valued at $6,089,000 after purchasing an additional 10,265 shares during the period. Institutional investors own 22.08% of the company’s stock.

Analysts Set New Price Targets

PMTS has been the topic of several recent research reports. Lake Street Capital raised their price objective on CPI Card Group from $22.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. StockNews.com upgraded shares of CPI Card Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 19th.

CPI Card Group Stock Performance

Shares of PMTS stock opened at $27.55 on Friday. The stock has a fifty day simple moving average of $27.52 and a two-hundred day simple moving average of $23.97. The firm has a market capitalization of $306.41 million, a PE ratio of 17.55 and a beta of 1.15. CPI Card Group Inc. has a 52-week low of $12.65 and a 52-week high of $31.00.

CPI Card Group (NASDAQ:PMTS) last released its earnings results on Monday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.05). CPI Card Group had a negative return on equity of 35.79% and a net margin of 4.11%. The business had revenue of $118.82 million for the quarter, compared to analysts’ expectations of $111.85 million. During the same quarter in the prior year, the business posted $0.55 EPS. On average, sell-side analysts forecast that CPI Card Group Inc. will post 2.12 EPS for the current fiscal year.

Insider Activity

In other CPI Card Group news, major shareholder Equity Ulc Parallel49 sold 120,534 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $18.23, for a total value of $2,197,334.82. Following the sale, the insider now owns 6,193,977 shares in the company, valued at approximately $112,916,200.71. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other CPI Card Group news, major shareholder Equity Ulc Parallel49 sold 120,534 shares of CPI Card Group stock in a transaction on Friday, July 5th. The shares were sold at an average price of $18.23, for a total value of $2,197,334.82. Following the completion of the transaction, the insider now directly owns 6,193,977 shares of the company’s stock, valued at approximately $112,916,200.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc Sheinbaum bought 2,000 shares of CPI Card Group stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of $25.26 per share, for a total transaction of $50,520.00. Following the completion of the acquisition, the director now owns 10,390 shares in the company, valued at $262,451.40. The disclosure for this purchase can be found here. Company insiders own 6.10% of the company’s stock.

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.