CPI Card Group Inc. (NASDAQ:PMTS) Short Interest Update

CPI Card Group Inc. (NASDAQ:PMTS) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 69,500 shares, a decline of 20.8% from the October 31st total of 87,800 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 35,500 shares, the days-to-cover ratio is currently 2.0 days.

CPI Card Group Stock Up 8.0 %

Shares of PMTS traded up $2.44 during trading hours on Friday, reaching $33.01. The company’s stock had a trading volume of 40,979 shares, compared to its average volume of 43,216. The firm has a market cap of $368.39 million, a price-to-earnings ratio of 25.20 and a beta of 1.21. The company has a 50 day moving average of $25.67 and a two-hundred day moving average of $26.69. CPI Card Group has a 1-year low of $15.00 and a 1-year high of $33.65.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Lake Street Capital lifted their target price on shares of CPI Card Group from $22.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. 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 objective on the stock. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $36.33.

Insiders Place Their Bets

In other news, insider Sonya Vollmer sold 3,660 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.10, for a total transaction of $91,866.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.00, for a total value of $28,980,000.00. Following the sale, the insider now directly owns 4,813,977 shares in the company, 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. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On CPI Card Group

Institutional investors have recently modified their holdings of the stock. MetLife Investment Management LLC grew its stake in shares of CPI Card Group by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 2,939 shares of the company’s stock valued at $82,000 after buying an additional 1,656 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in CPI Card Group by 182.9% in the third quarter. BNP Paribas Financial Markets now owns 5,281 shares of the company’s stock valued at $147,000 after acquiring an additional 3,414 shares during the last quarter. Rhumbline Advisers grew its position in CPI Card Group by 32.8% in the second quarter. Rhumbline Advisers now owns 6,302 shares of the company’s stock worth $172,000 after acquiring an additional 1,555 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of CPI Card Group during the 3rd quarter worth $205,000. Finally, Barclays PLC raised its holdings in shares of CPI Card Group by 251.2% during the 3rd quarter. Barclays PLC now owns 7,330 shares of the company’s stock valued at $205,000 after purchasing an additional 5,243 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, 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.