3,470 Shares in CPI Card Group Inc. $PMTS Acquired by Virtus Advisers LLC

Virtus Advisers LLC purchased a new position in shares of CPI Card Group Inc. (NASDAQ:PMTS) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,470 shares of the company’s stock, valued at approximately $101,000.

Several other institutional investors have also made changes to their positions in the stock. Barclays PLC boosted its holdings in shares of CPI Card Group by 5.2% during the fourth quarter. Barclays PLC now owns 7,712 shares of the company’s stock worth $230,000 after purchasing an additional 382 shares during the period. Rhumbline Advisers boosted its holdings in shares of CPI Card Group by 7.3% during the first quarter. Rhumbline Advisers now owns 6,948 shares of the company’s stock worth $203,000 after purchasing an additional 474 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of CPI Card Group by 10.7% during the fourth quarter. BNP Paribas Financial Markets now owns 5,844 shares of the company’s stock worth $175,000 after purchasing an additional 563 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of CPI Card Group by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 28,330 shares of the company’s stock worth $826,000 after purchasing an additional 746 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of CPI Card Group by 44.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,503 shares of the company’s stock worth $75,000 after purchasing an additional 776 shares during the period. 22.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CPI Card Group

In other news, Chairman H Sanford Riley purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were bought at an average price of $15.75 per share, with a total value of $157,500.00. Following the completion of the transaction, the chairman directly owned 31,033 shares in the company, valued at $488,769.75. This trade represents a 47.54% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on PMTS. Wall Street Zen cut shares of CPI Card Group from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Lake Street Capital cut their price objective on shares of CPI Card Group from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. DA Davidson cut their price objective on shares of CPI Card Group from $38.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Finally, Zacks Research raised shares of CPI Card Group to a “hold” rating in a research report on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.00.

CPI Card Group Stock Performance

Shares of PMTS opened at $15.64 on Tuesday. CPI Card Group Inc. has a twelve month low of $12.52 and a twelve month high of $35.19. The firm has a market cap of $177.36 million, a PE ratio of 13.96 and a beta of 1.31. The firm’s 50 day moving average price is $20.30 and its 200 day moving average price is $24.01.

CPI Card Group (NASDAQ:PMTS) last released its quarterly earnings results on Friday, August 8th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.52). CPI Card Group had a net margin of 2.66% and a negative return on equity of 58.00%. The firm had revenue of $129.75 million during the quarter, compared to the consensus estimate of $132.96 million. On average, sell-side analysts anticipate that CPI Card Group Inc. will post 1.63 earnings per share for the current fiscal year.

CPI Card Group 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.