CPI Card Group Inc. (NASDAQ:PMTS) Short Interest Update

CPI Card Group Inc. (NASDAQ:PMTS) was the target of a large decline in short interest in December. As of December 31st, there was short interest totaling 236,395 shares, a decline of 17.9% from the December 15th total of 287,997 shares. Based on an average daily volume of 34,547 shares, the days-to-cover ratio is presently 6.8 days. Approximately 2.1% of the company’s stock are sold short. Approximately 2.1% of the company’s stock are sold short. Based on an average daily volume of 34,547 shares, the days-to-cover ratio is presently 6.8 days.

Wall Street Analyst Weigh In

PMTS has been the topic of a number of research reports. Weiss Ratings downgraded CPI Card Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. DA Davidson reduced their target price on CPI Card Group from $32.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Roth Capital set a $30.00 price target on CPI Card Group in a research report on Tuesday, November 4th. Lake Street Capital set a $25.00 price target on CPI Card Group in a research note on Wednesday, November 5th. Finally, B. Riley reduced 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. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, CPI Card Group currently has an average rating of “Moderate Buy” and an average price target of $30.60.

CPI Card Group Price Performance

CPI Card Group stock opened at $13.74 on Monday. CPI Card Group has a 12 month low of $11.64 and a 12 month high of $34.25. The company has a fifty day moving average price of $14.47 and a two-hundred day moving average price of $16.13. The company has a market cap of $156.50 million, a PE ratio of 11.45 and a beta of 1.20.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On CPI Card Group

A number of institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted its stake in CPI Card Group by 37.0% in the 3rd quarter. IFP Advisors Inc now owns 5,949 shares of the company’s stock worth $91,000 after purchasing an additional 1,607 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of CPI Card Group by 9.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 56,745 shares of the company’s stock worth $859,000 after purchasing an additional 5,116 shares during the period. Vector Capital Management L.P. boosted its holdings in shares of CPI Card Group by 18.6% during the third quarter. Vector Capital Management L.P. now owns 459,314 shares of the company’s stock worth $6,954,000 after purchasing an additional 71,891 shares during the period. Millennium Management LLC grew its position in CPI Card Group by 93.9% during the third quarter. Millennium Management LLC now owns 32,744 shares of the company’s stock valued at $496,000 after purchasing an additional 15,856 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of CPI Card Group by 98.7% during the 3rd 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 in the last quarter. Hedge funds and other 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.