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

Vector Capital Management L.P. lifted its holdings in shares of CPI Card Group Inc. (NASDAQ:PMTS) by 77.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,737 shares of the company’s stock after buying an additional 108,756 shares during the period. CPI Card Group comprises 6.8% of Vector Capital Management L.P.’s investment portfolio, making the stock its 3rd biggest holding. Vector Capital Management L.P.’s holdings in CPI Card Group were worth $6,778,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Rhumbline Advisers lifted its stake in shares of CPI Card Group by 32.8% in the second 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. Privium Fund Management UK Ltd purchased a new position in CPI Card Group in the second quarter valued at about $257,000. Denali Advisors LLC lifted its position in shares of CPI Card Group by 19.0% during the 1st quarter. Denali Advisors LLC now owns 16,300 shares of the company’s stock valued at $291,000 after acquiring an additional 2,600 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of CPI Card Group by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 23,979 shares of the company’s stock worth $653,000 after acquiring an additional 5,783 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake 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 worth $672,000 after acquiring an additional 2,283 shares in the last quarter. 22.08% of the stock is owned by institutional investors and hedge funds.

CPI Card Group Price Performance

PMTS stock opened at $27.23 on Tuesday. The company’s 50 day simple moving average is $27.48 and its 200-day simple moving average is $24.13. CPI Card Group Inc. has a 12 month low of $12.65 and a 12 month high of $31.00. The firm has a market capitalization of $302.85 million, a PE ratio of 17.34 and a beta of 1.15.

CPI Card Group (NASDAQ:PMTS) last posted its earnings results on Monday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The company 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 period in the previous year, the company posted $0.55 EPS. As a group, sell-side analysts anticipate that CPI Card Group Inc. will post 2.12 earnings per share for the current year.

Insider Activity

In related news, Director Marc Sheinbaum acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average price of $25.26 per share, for a total transaction of $50,520.00. Following the transaction, the director now owns 10,390 shares in the company, valued at approximately $262,451.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Equity Ulc Parallel49 sold 120,534 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $18.23, for a total transaction 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Marc Sheinbaum purchased 2,000 shares of the stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $25.26 per share, with a total value of $50,520.00. Following the acquisition, the director now directly owns 10,390 shares in the company, valued at $262,451.40. The disclosure for this purchase can be found here. Company insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.