CPI Card Group’s (PMTS) Buy Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their buy rating on shares of CPI Card Group (NASDAQ:PMTS) in a research note released on Wednesday morning,Benzinga reports. DA Davidson currently has a $30.00 target price on the stock.

Other equities research analysts have also recently issued reports about the stock. Roth Mkm set a $30.00 price objective on shares of CPI Card Group in a research report on Tuesday, November 4th. Zacks Research raised shares of CPI Card Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. B. Riley Financial cut their price target on shares of CPI Card Group from $34.00 to $28.00 and set a “buy” rating for the company in a report on Monday, November 10th. Lake Street Capital set a $25.00 price objective on CPI Card Group in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of CPI Card Group in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.25.

CPI Card Group Trading Down 0.7%

Shares of NASDAQ PMTS opened at $11.53 on Wednesday. The stock has a market cap of $131.33 million, a PE ratio of 9.61 and a beta of 1.29. CPI Card Group has a 12-month low of $10.81 and a 12-month high of $34.25. The company has a 50-day moving average of $13.96 and a 200 day moving average of $14.72.

Insider Buying and Selling at CPI Card Group

In other CPI Card Group news, major shareholder Equity Ulc Parallel49 sold 2,126,056 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $13.51, for a total transaction of $28,723,016.56. Following 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman H Sanford Riley acquired 200,000 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was bought at an average price of $13.51 per share, with a total value of $2,702,000.00. Following the purchase, the chairman directly owned 252,366 shares in the company, valued at approximately $3,409,464.66. This trade represents a 381.93% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 2.80% of the company’s stock.

Institutional Trading of CPI Card Group

Hedge funds have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new stake in shares of CPI Card Group in the 4th quarter valued at approximately $29,000. Los Angeles Capital Management LLC purchased a new position in CPI Card Group in the fourth quarter valued at $52,000. Lazard Asset Management LLC raised its stake 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 buying an additional 1,467 shares in the last quarter. IFP Advisors Inc lifted its holdings in CPI Card Group by 37.0% during the 3rd quarter. IFP Advisors Inc now owns 5,949 shares of the company’s stock worth $91,000 after buying an additional 1,607 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of CPI Card Group by 73.1% during the 4th quarter. Wells Fargo & Company MN now owns 6,769 shares of the company’s stock worth $99,000 after acquiring an additional 2,859 shares in the last quarter. Institutional investors and hedge funds own 22.08% of the company’s stock.

CPI Card Group Company Profile

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.