State Street Corp Purchases 6,214 Shares of CPI Card Group Inc. (NASDAQ:PMTS)

State Street Corp boosted its position in shares of CPI Card Group Inc. (NASDAQ:PMTS) by 9.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,150 shares of the company’s stock after buying an additional 6,214 shares during the quarter. State Street Corp owned approximately 0.66% of CPI Card Group worth $2,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC increased its stake in shares of CPI Card Group by 129.1% during 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 during the period. BNP Paribas Financial Markets increased its position in CPI Card Group by 182.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,281 shares of the company’s stock valued at $147,000 after purchasing an additional 3,414 shares during the period. Rhumbline Advisers raised its holdings in CPI Card Group by 32.8% in the 2nd quarter. Rhumbline Advisers now owns 6,302 shares of the company’s stock worth $172,000 after purchasing an additional 1,555 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of CPI Card Group in the 3rd quarter worth about $205,000. Finally, Privium Fund Management UK Ltd bought a new stake in shares of CPI Card Group during the 2nd quarter valued at about $257,000. Hedge funds and other institutional investors own 22.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PMTS. Lake Street Capital raised their price objective on shares of CPI Card Group from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. DA Davidson assumed coverage on CPI Card Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $36.00 target price for the company. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $37.67.

Insider Transactions at CPI Card Group

In related news, Director H Sanford Riley purchased 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was purchased at an average price of $32.51 per share, with a total value of $65,020.00. Following the transaction, the director now directly owns 9,500 shares in the company, valued at $308,845. This trade represents a 26.67 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

CPI Card Group Price Performance

NASDAQ:PMTS opened at $29.89 on Thursday. The firm has a market capitalization of $333.54 million, a P/E ratio of 22.82 and a beta of 1.39. CPI Card Group Inc. has a one year low of $15.00 and a one year high of $35.19. The company’s 50-day simple moving average is $29.42 and its 200 day simple moving average is $27.66.

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.