Insider Buying: CPI Card Group (NASDAQ:PMTS) Director Buys $21,500.00 in Stock

CPI Card Group Inc. (NASDAQ:PMTS) Director Ravi Mallela acquired 1,000 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were acquired at an average price of $21.50 per share, with a total value of $21,500.00. Following the completion of the purchase, the director owned 12,471 shares in the company, valued at approximately $268,126.50. This trade represents a 8.72% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

CPI Card Group Stock Performance

Shares of PMTS opened at $23.76 on Thursday. The stock has a 50 day moving average price of $24.72 and a 200 day moving average price of $19.59. CPI Card Group Inc. has a one year low of $10.81 and a one year high of $31.25. The stock has a market capitalization of $275.38 million, a price-to-earnings ratio of 20.66 and a beta of 0.97.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PMTS. B. Riley Financial reissued a “buy” rating on shares of CPI Card Group in a research note on Friday, August 7th. Zacks Research lowered shares of CPI Card Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings upgraded CPI Card Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded CPI Card Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $32.00 price target on shares of CPI Card Group in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.25.

Institutional Investors Weigh In On CPI Card Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ancora Advisors LLC purchased a new position in CPI Card Group during the second quarter worth about $41,000. Lazard Asset Management LLC purchased a new stake in shares of CPI Card Group during the 1st quarter valued at approximately $157,000. Janney Montgomery Scott LLC raised its position in shares of 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 buying an additional 1,346 shares during the period. Potomac Capital Management Inc. acquired a new position in CPI Card Group in the fourth quarter valued at approximately $337,000. Finally, Walleye Capital LLC acquired a new position in CPI Card Group in the first quarter valued at approximately $358,000. 22.08% of the stock is currently owned by institutional investors and hedge funds.

CPI Card Group Company Profile

CPI Card Group Inc is a payment technology company that produces and supports payment cards for financial institutions, fintech companies, government agencies and other organizations. The company’s offerings include credit, debit and prepaid cards, along with card programs designed for consumer, commercial and government payments.

Its products and services include EMV chip cards, contactless and dual-interface cards, metal cards, environmentally focused card products, card personalization and fulfillment.