CPI Card Group Inc. (NASDAQ:PMTS) Sees Significant Drop in Short Interest

CPI Card Group Inc. (NASDAQ:PMTS) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totaling 207,613 shares, a decline of 12.2% from the December 31st total of 236,395 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average daily volume of 33,043 shares, the short-interest ratio is currently 6.3 days. Based on an average daily volume of 33,043 shares, the short-interest ratio is currently 6.3 days. Approximately 1.9% of the shares of the company are short sold.

Insider Buying and Selling

In other CPI Card Group news, major shareholder Equity Ulc Parallel49 sold 2,126,056 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $13.51, for a total value of $28,723,016.56. Following the sale, the insider owned 2,687,921 shares of the company’s stock, valued at $36,313,812.71. The trade was a 44.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman H Sanford Riley acquired 200,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was acquired at an average price of $13.51 per share, with a total value of $2,702,000.00. Following the purchase, the chairman owned 252,366 shares in the company, valued at approximately $3,409,464.66. This represents a 381.93% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 2.80% of the company’s stock.

Institutional Trading of CPI Card Group

Several hedge funds have recently modified their holdings of the stock. Pembroke Management LTD lifted its holdings in CPI Card Group by 87.9% during the 3rd quarter. Pembroke Management LTD now owns 99,567 shares of the company’s stock worth $1,507,000 after buying an additional 46,575 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of CPI Card Group in the 2nd quarter valued at $347,000. IFP Advisors Inc raised its position in shares of CPI Card Group by 52.5% during the second quarter. IFP Advisors Inc now owns 4,342 shares of the company’s stock worth $103,000 after acquiring an additional 1,494 shares during the last quarter. Corton Capital Inc. acquired a new position in shares of CPI Card Group during the second quarter valued at $232,000. Finally, Bank of America Corp DE boosted its holdings in CPI Card Group by 98.7% in the third quarter. Bank of America Corp DE now owns 6,707 shares of the company’s stock valued at $102,000 after acquiring an additional 3,331 shares during the last quarter. 22.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Zacks Research upgraded shares of CPI Card Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. B. Riley cut their target price on CPI Card Group from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CPI Card Group in a research report on Wednesday, January 21st. Lake Street Capital set a $25.00 price objective on CPI Card Group in a research note on Wednesday, November 5th. Finally, Roth Mkm set a $30.00 target price on shares of CPI Card Group in a research note on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, CPI Card Group has a consensus rating of “Moderate Buy” and an average target price of $28.25.

CPI Card Group Stock Performance

Shares of PMTS stock opened at $13.38 on Tuesday. CPI Card Group has a 52 week low of $11.64 and a 52 week high of $34.25. The stock has a market capitalization of $152.40 million, a PE ratio of 11.15 and a beta of 1.29. The stock’s fifty day moving average is $14.61 and its 200-day moving average is $15.39.

CPI Card Group (NASDAQ:PMTS) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.16). The company had revenue of $137.97 million for the quarter, compared to analyst estimates of $140.62 million. CPI Card Group had a negative return on equity of 58.98% and a net margin of 2.79%. As a group, analysts forecast that CPI Card Group will post 1.63 earnings per share for the current fiscal year.

CPI Card Group Company Profile

CPI Card Group, Inc (NASDAQ: PMTS) is a leading provider of payment, identification and related credential solutions for financial institutions, governments and private enterprises. The company specializes in the design, manufacturing and personalization of secure plastic and metal cards, including EMV chip, magnetic-stripe and contactless cards. CPI Card Group also offers digital credentialing services and cloud-based card management tools that enable real-time controls, mobile wallet integration, fraud monitoring and analytics.

With a focus on security and innovation, CPI Card Group integrates advanced features such as holograms, microprinting, RFID/NFC technology and laser-engraved artwork into its card products.