DA Davidson Reaffirms “Buy” Rating for CPI Card Group (NASDAQ:PMTS)

CPI Card Group (NASDAQ:PMTS)‘s stock had its “buy” rating restated by stock analysts at DA Davidson in a note issued to investors on Tuesday,Benzinga reports. They currently have a $36.00 target price on the stock. DA Davidson’s price target suggests a potential upside of 7.69% from the company’s current price.

Separately, Lake Street Capital lifted their price objective on CPI Card Group from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, December 4th.

CPI Card Group Price Performance

Shares of NASDAQ PMTS opened at $33.43 on Tuesday. The stock has a market capitalization of $373.05 million, a PE ratio of 25.52 and a beta of 1.43. The business has a fifty day moving average price of $30.33 and a two-hundred day moving average price of $28.28. CPI Card Group has a fifty-two week low of $15.00 and a fifty-two week high of $35.19.

Insider Transactions at CPI Card Group

In other CPI Card Group news, Director H Sanford Riley purchased 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was bought at an average price of $32.51 per share, with a total value of $65,020.00. Following the acquisition, the director now owns 9,500 shares of the company’s stock, valued at approximately $308,845. This represents a 26.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On CPI Card Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in CPI Card Group by 1,635.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,649 shares of the company’s stock worth $49,000 after purchasing an additional 1,554 shares in the last quarter. Wells Fargo & Company MN increased its holdings in CPI Card Group by 44.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,503 shares of the company’s stock worth $75,000 after purchasing an additional 776 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in CPI Card Group by 355.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,665 shares of the company’s stock worth $80,000 after purchasing an additional 2,080 shares in the last quarter. MetLife Investment Management LLC increased its holdings in CPI Card Group by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 2,939 shares of the company’s stock worth $82,000 after purchasing an additional 1,656 shares in the last quarter. Finally, Virtus Investment Advisers Inc. acquired a new position in CPI Card Group in the 4th quarter worth about $84,000. Institutional investors and hedge funds 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.