Goldman Sachs Group Inc. Sells 48,772 Shares of CPI Card Group Inc. $PMTS

Goldman Sachs Group Inc. lessened its stake in shares of CPI Card Group Inc. (NASDAQ:PMTS) by 51.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,624 shares of the company’s stock after selling 48,772 shares during the quarter. Goldman Sachs Group Inc. owned 0.41% of CPI Card Group worth $1,360,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. US Bancorp DE bought a new position in shares of CPI Card Group during the 1st quarter worth approximately $33,000. Virtus Advisers LLC bought a new position in CPI Card Group in the 1st quarter valued at $101,000. Russell Investments Group Ltd. raised its position in CPI Card Group by 130.4% in the 1st quarter. Russell Investments Group Ltd. now owns 3,800 shares of the company’s stock valued at $111,000 after purchasing an additional 2,151 shares during the last quarter. Deutsche Bank AG raised its position in CPI Card Group by 4,014.4% in the 4th quarter. Deutsche Bank AG now owns 4,279 shares of the company’s stock valued at $128,000 after purchasing an additional 4,175 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in CPI Card Group by 10.7% in the 4th quarter. BNP Paribas Financial Markets now owns 5,844 shares of the company’s stock valued at $175,000 after purchasing an additional 563 shares during the last quarter. Institutional investors own 22.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wall Street Zen downgraded CPI Card Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. DA Davidson cut their price objective on CPI Card Group from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Lake Street Capital cut their price objective on CPI Card Group from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Finally, Zacks Research raised CPI Card Group to a “hold” rating in a research note on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, CPI Card Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Insider Buying and Selling at CPI Card Group

In other CPI Card Group news, Chairman H Sanford Riley purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $15.75 per share, with a total value of $157,500.00. Following the purchase, the chairman directly owned 31,033 shares of the company’s stock, valued at $488,769.75. The trade was a 47.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 2.80% of the stock is owned by corporate insiders.

CPI Card Group Trading Down 1.3%

NASDAQ:PMTS opened at $15.62 on Friday. CPI Card Group Inc. has a 1 year low of $12.52 and a 1 year high of $35.19. The stock has a market cap of $177.08 million, a price-to-earnings ratio of 13.95 and a beta of 1.46. The stock has a 50-day moving average price of $17.13 and a two-hundred day moving average price of $22.02.

CPI Card Group (NASDAQ:PMTS) last posted its quarterly earnings data on Friday, August 8th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.52). The firm had revenue of $129.75 million for the quarter, compared to analyst estimates of $132.96 million. CPI Card Group had a negative return on equity of 58.00% and a net margin of 2.66%. Sell-side analysts forecast that CPI Card Group Inc. will post 1.63 earnings per share for the current year.

CPI Card Group Profile

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.