CPI Card Group Inc. (NASDAQ:PMTS) Sees Significant Drop in Short Interest

CPI Card Group Inc. (NASDAQ:PMTS) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 207,613 shares, a drop of 12.2% from the December 31st total of 236,395 shares. Approximately 1.9% of the company’s stock are short sold. Based on an average daily trading volume, of 33,043 shares, the short-interest ratio is currently 6.3 days. Based on an average daily trading volume, of 33,043 shares, the short-interest ratio is currently 6.3 days. Approximately 1.9% of the company’s stock are short sold.

CPI Card Group Price Performance

CPI Card Group stock opened at $13.38 on Tuesday. CPI Card Group has a fifty-two week low of $11.64 and a fifty-two week high of $34.25. The firm has a fifty day moving average price of $14.61 and a two-hundred day moving average price of $15.39. The firm has a market cap of $152.40 million, a price-to-earnings ratio of 11.15 and a beta of 1.29.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PMTS shares. Zacks Research raised CPI Card Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Roth Mkm set a $30.00 target price on shares of CPI Card Group in a research note on Tuesday, November 4th. DA Davidson dropped their price target on shares of CPI Card Group from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. B. Riley reduced their price objective on shares of CPI Card Group from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Finally, Lake Street Capital set a $25.00 target price on shares of CPI Card Group in a research report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $28.25.

Insiders Place Their Bets

In other news, Chairman H Sanford Riley acquired 200,000 shares of CPI Card Group stock in a transaction that occurred on Thursday, December 4th. The stock was purchased at an average price of $13.51 per share, with a total value of $2,702,000.00. Following the completion of the transaction, the chairman owned 252,366 shares in the company, valued at approximately $3,409,464.66. This trade represents a 381.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Equity Ulc Parallel49 sold 2,126,056 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $13.51, for a total value of $28,723,016.56. Following the completion of the transaction, the insider owned 2,687,921 shares in the company, valued at $36,313,812.71. This trade represents a 44.16% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PMTS. Vanguard Group Inc. boosted its position in shares of CPI Card Group by 5.7% in the third quarter. Vanguard Group Inc. now owns 498,101 shares of the company’s stock valued at $7,541,000 after acquiring an additional 26,848 shares during the period. Vector Capital Management L.P. lifted its stake in shares of CPI Card Group by 18.6% in the third quarter. Vector Capital Management L.P. now owns 459,314 shares of the company’s stock valued at $6,954,000 after buying an additional 71,891 shares during the period. Pacific Ridge Capital Partners LLC grew its position in CPI Card Group by 75.0% during the third quarter. Pacific Ridge Capital Partners LLC now owns 391,325 shares of the company’s stock worth $5,925,000 after buying an additional 167,764 shares in the last quarter. Wasatch Advisors LP increased its stake in CPI Card Group by 56.3% during the second quarter. Wasatch Advisors LP now owns 357,754 shares of the company’s stock valued at $8,486,000 after acquiring an additional 128,808 shares during the period. Finally, Geode Capital Management LLC raised its holdings in CPI Card Group by 12.6% in the 2nd quarter. Geode Capital Management LLC now owns 125,500 shares of the company’s stock valued at $2,977,000 after acquiring an additional 14,039 shares in the last quarter. 22.08% of the stock is currently owned by institutional investors and hedge funds.

About CPI Card Group

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.