Lake Street Capital Issues Positive Forecast for CPI Card Group (NASDAQ:PMTS) Stock Price

CPI Card Group (NASDAQ:PMTS) had its target price increased by Lake Street Capital from $33.00 to $37.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, DA Davidson initiated coverage on shares of CPI Card Group in a research report on Friday, November 22nd. They set a “buy” rating and a $36.00 price target for the company. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CPI Card Group presently has a consensus rating of “Buy” and a consensus target price of $37.67.

CPI Card Group Trading Down 1.9 %

Shares of PMTS opened at $33.10 on Wednesday. The firm’s 50-day moving average price is $26.01 and its 200-day moving average price is $26.84. The firm has a market capitalization of $369.40 million, a price-to-earnings ratio of 25.27 and a beta of 1.39. CPI Card Group has a 1-year low of $15.00 and a 1-year high of $34.01.

Insiders Place Their Bets

In other CPI Card Group news, insider Sonya Vollmer sold 3,660 shares of CPI Card Group stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.10, for a total value of $91,866.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of CPI Card Group stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.00, for a total transaction 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 $101,093,517. This trade represents a 22.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of CPI Card Group by 3.1% during the first quarter. Vanguard Group Inc. now owns 340,945 shares of the company’s stock valued at $6,089,000 after purchasing an additional 10,265 shares during the last quarter. Vector Capital Management L.P. raised its holdings in shares of CPI Card Group by 77.7% during 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 during the last quarter. Geode Capital Management LLC raised its holdings in shares of CPI Card Group by 2.7% during the third quarter. Geode Capital Management LLC now owns 108,629 shares of the company’s stock valued at $3,024,000 after purchasing an additional 2,828 shares during the last quarter. State Street Corp raised its holdings in shares of CPI Card Group by 9.3% during the third quarter. State Street Corp now owns 73,150 shares of the company’s stock valued at $2,036,000 after purchasing an additional 6,214 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of CPI Card Group by 7.6% during the second quarter. Bank of New York Mellon Corp now owns 44,773 shares of the company’s stock valued at $1,220,000 after purchasing an additional 3,158 shares during the last quarter. 22.08% of the stock is owned by hedge funds and other institutional investors.

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.