CPI Card Group (NASDAQ:PMTS) Now Covered by Analysts at DA Davidson

DA Davidson initiated coverage on shares of CPI Card Group (NASDAQ:PMTS) in a research report report published on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $36.00 target price on the stock.

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

CPI Card Group Stock Up 4.1 %

Shares of PMTS stock opened at $29.75 on Friday. CPI Card Group has a twelve month low of $15.00 and a twelve month high of $31.00. The stock’s fifty day simple moving average is $25.28 and its 200 day simple moving average is $26.40. The firm has a market capitalization of $331.98 million, a P/E ratio of 22.71 and a beta of 1.21.

Insider Buying and Selling

In related news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of CPI Card Group stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.00, for a total transaction of $28,980,000.00. Following the completion of the transaction, the insider now owns 4,813,977 shares of the company’s stock, valued at $101,093,517. This trade represents a 22.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sonya Vollmer sold 3,660 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.10, for a total transaction of $91,866.00. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CPI Card Group

A number of hedge funds have recently added to or reduced their stakes in the business. Vector Capital Management L.P. boosted its holdings in shares of CPI Card Group by 77.7% during the 2nd quarter. Vector Capital Management L.P. now owns 248,737 shares of the company’s stock worth $6,778,000 after buying an additional 108,756 shares in the last quarter. Marshall Wace LLP boosted its stake in CPI Card Group by 139.0% during the second quarter. Marshall Wace LLP now owns 39,273 shares of the company’s stock worth $1,070,000 after acquiring an additional 22,841 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in CPI Card Group in the third quarter worth $449,000. Jacobs Levy Equity Management Inc. increased its stake in CPI Card Group by 109.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 26,655 shares of the company’s stock valued at $742,000 after purchasing an additional 13,901 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of CPI Card Group during the third quarter valued at about $305,000. 22.08% of the stock is currently owned by institutional investors.

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.