CPI Card Group (NASDAQ:PMTS) Stock Bumped Down to “Buy” by Wall Street Zen

Wall Street Zen downgraded shares of CPI Card Group (NASDAQ:PMTS) from a strong-buy rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

Several other research firms also recently weighed in on PMTS. DA Davidson lifted their target price on CPI Card Group from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of CPI Card Group in a report on Wednesday, November 4th. B. Riley Financial restated a “buy” rating on shares of CPI Card Group in a research note on Friday, August 7th. Finally, Roth Capital reissued a “buy” rating and set a $32.00 target price on shares of CPI Card Group in a research report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

CPI Card Group Price Performance

Shares of PMTS stock traded down $0.23 during trading hours on Friday, hitting $24.93. The company had a trading volume of 121,295 shares, compared to its average volume of 163,552. The stock has a market capitalization of $289.94 million, a PE ratio of 18.20 and a beta of 1.24. The company’s fifty day moving average is $25.36 and its 200 day moving average is $20.02. CPI Card Group has a fifty-two week low of $10.81 and a fifty-two week high of $31.25.

Insider Transactions at CPI Card Group

In other news, Director Marc Sheinbaum purchased 4,651 shares of the business’s stock in a transaction on Monday, September 14th. The shares were bought at an average price of $21.50 per share, with a total value of $99,996.50. Following the completion of the transaction, the director directly owned 26,500 shares in the company, valued at approximately $569,750. This represents a 21.29% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Equity Ulc Parallel49 sold 2,687,921 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $20.43, for a total value of $54,914,226.03. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired a total of 31,232 shares of company stock valued at $671,488 over the last quarter. Company insiders own 5.80% of the company’s stock.

Institutional Trading of CPI Card Group

Several institutional investors and hedge funds have recently bought and sold shares of PMTS. Ancora Advisors LLC purchased a new position in CPI Card Group during the 2nd quarter worth $41,000. USA Financial Formulas acquired a new position in CPI Card Group in the 3rd quarter valued at about $47,000. Lazard Asset Management LLC purchased a new stake in CPI Card Group during the 1st quarter valued at approximately $157,000. Janney Montgomery Scott LLC raised its stake in CPI Card Group by 10.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,736 shares of the company’s stock valued at $214,000 after acquiring an additional 1,346 shares during the last quarter. Finally, Penn Capital Management Company LLC acquired a new stake in CPI Card Group during the 3rd quarter worth approximately $233,000. Hedge funds and other institutional investors own 22.08% of the company’s stock.

CPI Card Group Company Profile

CPI Card Group is a payments technology company that designs and produces payment cards and related services. Its offerings include debit, credit and prepaid cards, including EMV chip, contactless, metal and sustainably designed card options. The company also provides card personalization, fulfillment and instant-issuance services, as well as digital payment solutions. Its customers include banks, credit unions, fintech companies and prepaid card program managers. Headquartered in Littleton, Colorado, CPI Card Group primarily serves customers in the United States and Canada.