Insider Selling: CPI Card Group Inc. (NASDAQ:PMTS) Major Shareholder Sells 1,380,000 Shares of Stock

CPI Card Group Inc. (NASDAQ:PMTS) major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $21.00, for a total transaction of $28,980,000.00. Following the transaction, the insider now owns 4,813,977 shares in the company, valued at $101,093,517. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

CPI Card Group Stock Performance

NASDAQ:PMTS traded up $0.73 during trading hours on Friday, hitting $23.62. The stock had a trading volume of 32,778 shares, compared to its average volume of 41,539. The business’s 50 day moving average is $26.74 and its 200-day moving average is $24.61. The company has a market cap of $263.60 million, a price-to-earnings ratio of 15.04 and a beta of 1.15. CPI Card Group Inc. has a one year low of $12.65 and a one year high of $31.00.

CPI Card Group (NASDAQ:PMTS) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $111.85 million. During the same quarter last year, the company earned $0.55 earnings per share. On average, sell-side analysts anticipate that CPI Card Group Inc. will post 2.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in CPI Card Group by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 340,945 shares of the company’s stock worth $6,089,000 after buying an additional 10,265 shares in the last quarter. Vector Capital Management L.P. increased its position in shares of CPI Card Group by 77.7% in the second quarter. Vector Capital Management L.P. now owns 248,737 shares of the company’s stock valued at $6,778,000 after acquiring an additional 108,756 shares during the last quarter. Denali Advisors LLC raised its holdings in CPI Card Group by 19.0% during the first quarter. Denali Advisors LLC now owns 16,300 shares of the company’s stock worth $291,000 after acquiring an additional 2,600 shares in the last quarter. Rhumbline Advisers boosted 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 valued at $172,000 after purchasing an additional 1,555 shares during the period. Finally, Bank of New York Mellon Corp increased its position in CPI Card Group by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 44,773 shares of the company’s stock worth $1,220,000 after buying an additional 3,158 shares during the period. 22.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PMTS. 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 research report on Tuesday, August 6th. StockNews.com upgraded CPI Card Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 19th.

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.