Equity Ulc Parallel49 Sells 244,314 Shares of CPI Card Group Inc. (NASDAQ:PMTS) Stock

CPI Card Group Inc. (NASDAQ:PMTS) major shareholder Equity Ulc Parallel49 sold 244,314 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $18.03, for a total value of $4,404,981.42. Following the transaction, the insider now directly owns 6,314,511 shares of the company’s stock, valued at $113,850,633.33. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

CPI Card Group Stock Performance

Shares of PMTS stock opened at $18.05 on Thursday. The stock has a fifty day moving average price of $18.19 and a 200 day moving average price of $17.66. The stock has a market cap of $205.77 million, a PE ratio of 8.94 and a beta of 0.94. CPI Card Group Inc. has a 1 year low of $12.65 and a 1 year high of $45.00.

CPI Card Group (NASDAQ:PMTS) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. The company had revenue of $102.87 million during the quarter, compared to the consensus estimate of $104.70 million. CPI Card Group had a negative return on equity of 39.59% and a net margin of 5.40%. During the same quarter last year, the business posted $1.06 earnings per share. As a group, equities research analysts predict that CPI Card Group Inc. will post 2.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PMTS. Roth Capital reaffirmed a “buy” rating on shares of CPI Card Group in a report on Friday, February 23rd. Roth Mkm began coverage on CPI Card Group in a report on Friday, February 23rd. They set a “buy” rating and a $40.00 price objective for the company. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $35.50.

Hedge Funds Weigh In On CPI Card Group

Several hedge funds have recently bought and sold shares of PMTS. Dimensional Fund Advisors LP purchased a new position in CPI Card Group during the third quarter worth $160,000. Geode Capital Management LLC increased its position in CPI Card Group by 12.2% during the fourth quarter. Geode Capital Management LLC now owns 43,834 shares of the company’s stock worth $1,581,000 after buying an additional 4,768 shares in the last quarter. Renaissance Technologies LLC purchased a new position in CPI Card Group during the fourth quarter worth $364,000. Susquehanna International Group LLP purchased a new stake in shares of CPI Card Group in the fourth quarter valued at $732,000. Finally, EAM Investors LLC purchased a new stake in shares of CPI Card Group in the fourth quarter valued at $1,912,000. Hedge funds and other institutional investors own 22.08% of the company’s stock.

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.