CPI Card Group (NASDAQ:PMTS) Earns Buy Rating from Analysts at DA Davidson

DA Davidson began coverage on shares of CPI Card Group (NASDAQ:PMTS) in a research report sent to investors on Friday, MarketBeat Ratings reports. The firm issued a buy rating and a $36.00 price target on the stock.

Separately, Lake Street Capital lifted their price objective on CPI Card Group from $22.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $36.33.

CPI Card Group Stock Up 4.1 %

PMTS stock opened at $29.75 on Friday. The company has a market cap of $332.01 million, a P/E ratio of 22.71 and a beta of 1.21. CPI Card Group has a twelve month low of $15.00 and a twelve month high of $31.00. The business has a fifty day moving average of $25.28 and a 200-day moving average of $26.32.

Insider Buying and Selling at CPI Card Group

In other CPI Card Group news, insider Sonya Vollmer sold 3,660 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.10, for a total value of $91,866.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $21.00, for a total value of $28,980,000.00. Following the completion of the transaction, the insider now directly owns 4,813,977 shares of the company’s stock, valued at approximately $101,093,517. The trade was a 22.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Institutional Trading of CPI Card Group

A number of institutional investors have recently modified their holdings of PMTS. Vector Capital Management L.P. lifted its holdings in shares of CPI Card Group by 77.7% in the second quarter. Vector Capital Management L.P. now owns 248,737 shares of the company’s stock valued at $6,778,000 after purchasing an additional 108,756 shares in the last quarter. Marshall Wace LLP raised its holdings in CPI Card Group by 139.0% during the second quarter. Marshall Wace LLP now owns 39,273 shares of the company’s stock worth $1,070,000 after acquiring an additional 22,841 shares in the last quarter. Ritholtz Wealth Management bought a new stake in CPI Card Group during the third quarter worth about $449,000. Jacobs Levy Equity Management Inc. raised its holdings in CPI Card Group by 109.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 26,655 shares of the company’s stock worth $742,000 after acquiring an additional 13,901 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in CPI Card Group during the third quarter worth about $305,000. 22.08% of the stock is currently owned by institutional investors.

About CPI Card Group

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.