CPI Card Group (NASDAQ:PMTS) Earns Buy Rating from Analysts at DA Davidson

DA Davidson began coverage on shares of CPI Card Group (NASDAQ:PMTS) in a research note published on Friday, MarketBeat.com reports. The firm issued a buy rating and a $36.00 target price on the stock.

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

CPI Card Group Price Performance

PMTS stock opened at $30.24 on Friday. The firm has a market cap of $337.48 million, a price-to-earnings ratio of 23.08 and a beta of 1.21. CPI Card Group has a 1-year low of $15.00 and a 1-year high of $31.00. The firm has a fifty day moving average price of $25.37 and a two-hundred day moving average price of $26.47.

Insider Buying and Selling

In other news, insider Sonya Vollmer sold 3,660 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.10, for a total value of $91,866.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the business’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 value of $28,980,000.00. Following the sale, the insider now directly owns 4,813,977 shares in the company, valued at approximately $101,093,517. The trade was a 22.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of CPI Card Group

A number of hedge funds and other institutional investors have recently modified their holdings of PMTS. Rhumbline Advisers raised its position in CPI Card Group by 32.8% in the second quarter. Rhumbline Advisers now owns 6,302 shares of the company’s stock worth $172,000 after acquiring an additional 1,555 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of CPI Card Group by 129.1% in the third 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. Linden Thomas Advisory Services LLC lifted its position in shares of CPI Card Group by 10.2% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 24,653 shares of the company’s stock valued at $672,000 after acquiring an additional 2,283 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of CPI Card Group by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 108,629 shares of the company’s stock worth $3,024,000 after acquiring an additional 2,828 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of CPI Card Group by 7.6% during the second quarter. Bank of New York Mellon Corp now owns 44,773 shares of the company’s stock worth $1,220,000 after purchasing an additional 3,158 shares during the period. Institutional investors own 22.08% of the company’s stock.

About CPI Card Group

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.