Insider Selling: CPI Card Group (NASDAQ:PMTS) Major Shareholder Sells $54,914,226.03 in Stock

CPI Card Group Inc. (NASDAQ:PMTS) major shareholder Equity Ulc Parallel49 sold 2,687,921 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $20.43, for a total transaction of $54,914,226.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

CPI Card Group Trading Down 2.2%

PMTS opened at $23.76 on Thursday. The business’s 50-day moving average price is $24.72 and its 200-day moving average price is $19.59. CPI Card Group Inc. has a 12 month low of $10.81 and a 12 month high of $31.25. The company has a market cap of $275.38 million, a P/E ratio of 20.66 and a beta of 0.97.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of CPI Card Group in a research note on Friday, August 7th. Wall Street Zen upgraded CPI Card Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. DA Davidson lifted their price objective on CPI Card Group from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Roth Capital reissued a “buy” rating and set a $32.00 target price on shares of CPI Card Group in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded CPI Card Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $30.25.

Hedge Funds Weigh In On CPI Card Group

A number of institutional investors have recently added to or reduced their stakes in PMTS. Janney Montgomery Scott LLC lifted its stake in shares of CPI Card Group by 10.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,736 shares of the company’s stock worth $214,000 after purchasing an additional 1,346 shares during the period. Ancora Advisors LLC bought a new stake in CPI Card Group during the second quarter valued at approximately $41,000. Lazard Asset Management LLC purchased a new stake in CPI Card Group during the first quarter valued at approximately $157,000. Potomac Capital Management Inc. purchased a new stake in CPI Card Group during the fourth quarter valued at approximately $337,000. Finally, Walleye Capital LLC bought a new position in CPI Card Group in the first quarter worth approximately $358,000. Institutional investors own 22.08% of the company’s stock.

CPI Card Group Company Profile

CPI Card Group Inc is a payment technology company that produces and supports payment cards for financial institutions, fintech companies, government agencies and other organizations. The company’s offerings include credit, debit and prepaid cards, along with card programs designed for consumer, commercial and government payments.

Its products and services include EMV chip cards, contactless and dual-interface cards, metal cards, environmentally focused card products, card personalization and fulfillment.