Millennium Management LLC Purchases 25,971 Shares of CPI Card Group Inc. (NASDAQ:PMTS)

Millennium Management LLC boosted its position in CPI Card Group Inc. (NASDAQ:PMTS) by 127.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 46,412 shares of the company’s stock after purchasing an additional 25,971 shares during the period. Millennium Management LLC owned about 0.42% of CPI Card Group worth $1,387,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PMTS. Russell Investments Group Ltd. grew its position in CPI Card Group by 1,635.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,649 shares of the company’s stock worth $49,000 after purchasing an additional 1,554 shares in the last quarter. Wells Fargo & Company MN grew its position in CPI Card Group by 44.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,503 shares of the company’s stock worth $75,000 after purchasing an additional 776 shares in the last quarter. Tower Research Capital LLC TRC grew its position in CPI Card Group by 355.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,665 shares of the company’s stock worth $80,000 after purchasing an additional 2,080 shares in the last quarter. IFP Advisors Inc grew its position in shares of CPI Card Group by 96.6% during the 4th quarter. IFP Advisors Inc now owns 3,048 shares of the company’s stock valued at $91,000 after acquiring an additional 1,498 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of CPI Card Group during the 4th quarter valued at approximately $104,000. 22.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Lake Street Capital reduced their target price on shares of CPI Card Group from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. DA Davidson increased their target price on shares of CPI Card Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Roth Mkm reissued a “buy” rating and set a $40.00 target price on shares of CPI Card Group in a research report on Wednesday, March 5th. B. Riley increased their target price on shares of CPI Card Group from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Wall Street Zen downgraded shares of CPI Card Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $36.75.

Insider Activity

In other CPI Card Group news, Chairman H Sanford Riley bought 15,000 shares of CPI Card Group stock in a transaction that occurred on Friday, May 9th. The shares were bought at an average price of $21.51 per share, with a total value of $322,650.00. Following the acquisition, the chairman now owns 19,966 shares in the company, valued at approximately $429,468.66. This trade represents a 302.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.80% of the company’s stock.

CPI Card Group Price Performance

NASDAQ PMTS opened at $22.77 on Wednesday. CPI Card Group Inc. has a 1 year low of $18.46 and a 1 year high of $35.19. The stock has a market capitalization of $256.87 million, a PE ratio of 17.38 and a beta of 1.77. The company’s 50 day simple moving average is $24.13 and its two-hundred day simple moving average is $28.27.

CPI Card Group (NASDAQ:PMTS) last posted its earnings results on Wednesday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.16). The firm had revenue of $122.76 million during the quarter, compared to analysts’ expectations of $120.90 million. CPI Card Group had a negative return on equity of 46.90% and a net margin of 3.38%. On average, research analysts anticipate that CPI Card Group Inc. will post 1.63 EPS for the current year.

About CPI Card Group

CPI Card Group Inc, together with its subsidiaries, engages in the design, production, data personalization, packaging, and fulfillment of financial payment cards. It operates through Debit and Credit, and Prepaid Debit segments. The Debit and Credit segment produces financial payment cards and provides integrated card services to card-issuing financial institutions.