CompoSecure (NASDAQ:CMPO) Shares Gap Up After Insider Buying Activity

Shares of CompoSecure, Inc. (NASDAQ:CMPO) gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $10.88, but opened at $11.58. CompoSecure shares last traded at $11.33, with a volume of 91,410 shares.

Specifically, Director Joseph J. Deangelo bought 45,045 shares of the business’s stock in a transaction on Monday, March 17th. The shares were purchased at an average price of $11.12 per share, with a total value of $500,900.40. Following the completion of the purchase, the director now owns 45,045 shares of the company’s stock, valued at $500,900.40. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

CMPO has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on CompoSecure from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Lake Street Capital dropped their price target on CompoSecure from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Needham & Company LLC dropped their price target on CompoSecure from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Finally, TD Cowen initiated coverage on CompoSecure in a research report on Wednesday, December 18th. They set a “buy” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, CompoSecure presently has a consensus rating of “Moderate Buy” and an average price target of $16.19.

CompoSecure Stock Up 4.3 %

The firm has a market capitalization of $1.16 billion, a P/E ratio of -25.81, a P/E/G ratio of 2.63 and a beta of 0.77. The stock has a fifty day moving average of $14.37 and a 200-day moving average of $14.56.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Verition Fund Management LLC bought a new position in shares of CompoSecure during the third quarter worth about $798,000. Geode Capital Management LLC grew its holdings in shares of CompoSecure by 34.1% during the third quarter. Geode Capital Management LLC now owns 585,746 shares of the company’s stock worth $8,214,000 after buying an additional 148,833 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of CompoSecure during the fourth quarter worth about $526,000. JPMorgan Chase & Co. grew its stake in CompoSecure by 555.0% in the third quarter. JPMorgan Chase & Co. now owns 51,949 shares of the company’s stock valued at $728,000 after purchasing an additional 44,018 shares in the last quarter. Finally, Truist Financial Corp grew its stake in CompoSecure by 286.9% in the fourth quarter. Truist Financial Corp now owns 48,368 shares of the company’s stock valued at $741,000 after purchasing an additional 35,868 shares in the last quarter. 37.56% of the stock is currently owned by institutional investors.

About CompoSecure

CompoSecure, Inc manufactures and designs metal, composite, and proprietary financial transaction cards in the United States and internationally. Its primary metal form factors include embedded, metal veneer lite, metal veneer, and full metal products. The company also offers Arculus Cold Storage Wallet, a three-factor authentication solution, which supports specific digital assets, including Bitcoin, Ethereum, non-fungible tokens and others.