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

CPI Card Group (NASDAQ:PMTS)‘s stock had its “buy” rating reaffirmed by investment analysts at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They presently have a $30.00 target price on the stock. DA Davidson’s price target points to a potential upside of 145.70% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Roth Mkm set a $30.00 target price on shares of CPI Card Group in a report on Tuesday, November 4th. 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. Weiss Ratings reissued a “sell (d+)” rating on shares of CPI Card Group in a research note on Wednesday, January 21st. B. Riley Financial lowered their target price on CPI Card Group from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Finally, Lake Street Capital set a $25.00 price target on CPI Card Group in a report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.25.

CPI Card Group Trading Up 5.9%

Shares of CPI Card Group stock opened at $12.21 on Wednesday. CPI Card Group has a 12 month low of $10.81 and a 12 month high of $34.25. The firm has a market cap of $139.07 million, a PE ratio of 10.18 and a beta of 1.29. The stock has a 50 day moving average of $13.84 and a 200 day moving average of $14.70.

Insider Transactions at CPI Card Group

In other news, Chairman H Sanford Riley acquired 200,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were acquired at an average price of $13.51 per share, with a total value of $2,702,000.00. Following the purchase, the chairman directly owned 252,366 shares of the company’s stock, valued at $3,409,464.66. This trade represents a 381.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Equity Ulc Parallel49 sold 2,126,056 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $13.51, for a total transaction of $28,723,016.56. Following the completion of the transaction, the insider directly owned 2,687,921 shares of the company’s stock, valued at approximately $36,313,812.71. The trade was a 44.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Pacific Ridge Capital Partners LLC lifted its stake in CPI Card Group by 75.0% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 391,325 shares of the company’s stock worth $5,925,000 after purchasing an additional 167,764 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of CPI Card Group by 56.3% in the 2nd quarter. Wasatch Advisors LP now owns 357,754 shares of the company’s stock worth $8,486,000 after purchasing an additional 128,808 shares in the last quarter. Vector Capital Management L.P. increased its position in shares of CPI Card Group by 18.6% during the 3rd quarter. Vector Capital Management L.P. now owns 459,314 shares of the company’s stock valued at $6,954,000 after purchasing an additional 71,891 shares during the last quarter. Pembroke Management LTD increased its stake in CPI Card Group by 87.9% in 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. Finally, Aristeia Capital L.L.C. purchased a new position in shares of CPI Card Group in the 4th quarter worth $597,000. Institutional investors own 22.08% of the company’s stock.

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.