Short Interest in CPI Card Group Inc. (NASDAQ:PMTS) Drops By 17.9%

CPI Card Group Inc. (NASDAQ:PMTS) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 236,395 shares, a drop of 17.9% from the December 15th total of 287,997 shares. Based on an average daily volume of 34,547 shares, the short-interest ratio is currently 6.8 days. Currently, 2.1% of the company’s shares are short sold. Currently, 2.1% of the company’s shares are short sold. Based on an average daily volume of 34,547 shares, the short-interest ratio is currently 6.8 days.

Insider Activity at CPI Card Group

In other news, Chairman H Sanford Riley purchased 200,000 shares of the stock in a transaction dated Thursday, December 4th. The stock was acquired at an average cost of $13.51 per share, for a total transaction of $2,702,000.00. Following the completion of the transaction, the chairman directly owned 252,366 shares in the company, valued at approximately $3,409,464.66. This represents a 381.93% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Equity Ulc Parallel49 sold 2,126,056 shares of the business’s stock in a transaction on 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 sale, the insider owned 2,687,921 shares in the company, valued at $36,313,812.71. This represents a 44.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PMTS. Lazard Asset Management LLC lifted its position in CPI Card Group by 100.4% in the second quarter. Lazard Asset Management LLC now owns 2,928 shares of the company’s stock valued at $69,000 after acquiring an additional 1,467 shares during the last quarter. IFP Advisors Inc increased its position in shares of CPI Card Group by 52.5% during the second quarter. IFP Advisors Inc now owns 4,342 shares of the company’s stock worth $103,000 after purchasing an additional 1,494 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of CPI Card Group by 98.7% in the 3rd quarter. Bank of America Corp DE now owns 6,707 shares of the company’s stock valued at $102,000 after purchasing an additional 3,331 shares during the last quarter. Rhumbline Advisers boosted its position in shares of CPI Card Group by 7.3% in the 1st quarter. Rhumbline Advisers now owns 6,948 shares of the company’s stock valued at $203,000 after purchasing an additional 474 shares during the period. Finally, Jane Street Group LLC purchased a new position in CPI Card Group during the 1st quarter worth approximately $223,000. 22.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PMTS shares. Zacks Research upgraded shares of CPI Card Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. B. Riley lowered their target price on 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. Roth Capital set a $30.00 price target on CPI Card Group in a research report on Tuesday, November 4th. Lake Street Capital set a $25.00 price objective on CPI Card Group in a research note on Wednesday, November 5th. Finally, Weiss Ratings lowered shares of CPI Card Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, CPI Card Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.60.

CPI Card Group Stock Performance

NASDAQ:PMTS opened at $13.29 on Wednesday. CPI Card Group has a 1 year low of $11.64 and a 1 year high of $34.25. The stock has a market cap of $151.37 million, a P/E ratio of 11.08 and a beta of 1.20. The stock has a 50-day simple moving average of $14.45 and a 200-day simple moving average of $15.97.

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

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.