Vector Capital Management L.P. Acquires 108,756 Shares of CPI Card Group Inc. (NASDAQ:PMTS)

Vector Capital Management L.P. raised its holdings in CPI Card Group Inc. (NASDAQ:PMTS) by 77.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 248,737 shares of the company’s stock after buying an additional 108,756 shares during the period. CPI Card Group makes up approximately 6.8% of Vector Capital Management L.P.’s portfolio, making the stock its 3rd largest position. Vector Capital Management L.P. owned 2.24% of CPI Card Group worth $6,778,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PMTS. Vanguard Group Inc. lifted its stake in CPI Card Group by 3.1% in the first quarter. Vanguard Group Inc. now owns 340,945 shares of the company’s stock worth $6,089,000 after acquiring an additional 10,265 shares during the last quarter. Denali Advisors LLC increased its position in shares of CPI Card Group by 19.0% in 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 last quarter. Bank of New York Mellon Corp raised its holdings in shares of CPI Card Group by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 44,773 shares of the company’s stock valued at $1,220,000 after purchasing an additional 3,158 shares in the last quarter. Privium Fund Management UK Ltd purchased a new stake in shares of CPI Card Group during the 2nd quarter worth $257,000. Finally, Linden Thomas Advisory Services LLC grew its stake in shares of CPI Card Group by 10.2% during the second 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 in the last quarter. Institutional investors and hedge funds own 22.08% of the company’s stock.

Insider Buying and Selling

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 transaction, the insider now directly owns 6,193,977 shares in the company, valued at $112,916,200.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Sonya Vollmer sold 3,660 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.10, for a total transaction of $91,866.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $2,197,334.82. Following the completion of the transaction, the insider now directly owns 6,193,977 shares in the company, valued at $112,916,200.71. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.

Analyst Ratings Changes

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

CPI Card Group Stock Performance

Shares of PMTS stock opened at $27.23 on Tuesday. The firm has a market cap of $302.85 million, a price-to-earnings ratio of 17.34 and a beta of 1.15. CPI Card Group Inc. has a 1 year low of $12.65 and a 1 year high of $31.00. The stock’s 50-day moving average is $27.48 and its two-hundred day moving average is $24.13.

CPI Card Group (NASDAQ:PMTS) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The firm had revenue of $118.82 million during the quarter, compared to analysts’ expectations of $111.85 million. CPI Card Group had a net margin of 4.11% and a negative return on equity of 35.79%. During the same quarter in the prior year, the firm posted $0.55 EPS. As a group, research analysts predict that CPI Card Group Inc. will post 2.12 EPS for the current year.

CPI Card Group 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.