CPI Card Group’s (PMTS) Buy Rating Reaffirmed at Roth Mkm

CPI Card Group (NASDAQ:PMTS)‘s stock had its “buy” rating reaffirmed by Roth Mkm in a research note issued on Wednesday,Benzinga reports. They presently have a $40.00 target price on the stock. Roth Mkm’s target price would suggest a potential upside of 35.16% from the stock’s previous close.

Several other brokerages have also recently commented on PMTS. Lake Street Capital boosted their price target on shares of CPI Card Group from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. DA Davidson restated a “buy” rating and set a $36.00 price target on shares of CPI Card Group in a report on Tuesday, February 25th.

CPI Card Group Price Performance

Shares of PMTS traded down $0.16 during trading hours on Wednesday, reaching $29.60. 11,174 shares of the company’s stock traded hands, compared to its average volume of 28,380. The firm has a market capitalization of $330.25 million, a price-to-earnings ratio of 22.59 and a beta of 1.43. The business’s fifty day simple moving average is $30.28 and its two-hundred day simple moving average is $28.43. CPI Card Group has a twelve month low of $15.00 and a twelve month high of $35.19.

Institutional Investors Weigh In On CPI Card Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vector Capital Management L.P. increased its holdings in CPI Card Group by 38.4% in the 4th quarter. Vector Capital Management L.P. now owns 360,318 shares of the company’s stock valued at $10,770,000 after buying an additional 100,000 shares during the period. Wasatch Advisors LP bought a new stake in CPI Card Group in the fourth quarter valued at about $10,175,000. Pacific Ridge Capital Partners LLC acquired a new stake in CPI Card Group in the fourth quarter worth $4,401,000. Geode Capital Management LLC increased its holdings in CPI Card Group by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 110,582 shares of the company’s stock worth $3,306,000 after purchasing an additional 1,953 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in CPI Card Group during the fourth quarter worth $3,240,000. 22.08% of the stock is owned by institutional investors and hedge funds.

CPI Card Group Company 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.