CPI Card Group Inc. (NASDAQ:PMTS) Sees Large Increase in Short Interest

CPI Card Group Inc. (NASDAQ:PMTS) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 260,122 shares, a growth of 25.3% from the January 15th total of 207,613 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 28,950 shares, the days-to-cover ratio is presently 9.0 days. Based on an average daily trading volume, of 28,950 shares, the days-to-cover ratio is presently 9.0 days. Currently, 2.4% of the company’s stock are sold short.

Analyst Ratings Changes

PMTS has been the topic of several recent research reports. DA Davidson lowered their price target on shares of CPI Card Group from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings restated a “sell (d+)” rating on shares of CPI Card Group in a research note on Wednesday, January 21st. Roth Mkm set a $30.00 target price on CPI Card Group in a report on Tuesday, November 4th. B. Riley Financial decreased their price target on CPI Card Group from $34.00 to $28.00 and set a “buy” rating for the company in a report on Monday, November 10th. Finally, Lake Street Capital set a $25.00 price objective on CPI Card Group in a research report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, CPI Card Group currently has a consensus rating of “Moderate Buy” and an average price target of $28.25.

Insider Buying and Selling at CPI Card Group

In other CPI Card Group news, Chairman H Sanford Riley acquired 200,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were purchased at an average cost of $13.51 per share, for a total transaction of $2,702,000.00. Following the completion of the purchase, the chairman owned 252,366 shares in the company, valued at approximately $3,409,464.66. This trade represents a 381.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Equity Ulc Parallel49 sold 2,126,056 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $13.51, for a total value of $28,723,016.56. Following the completion of the transaction, the insider directly owned 2,687,921 shares of the company’s stock, valued at approximately $36,313,812.71. The trade was a 44.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On CPI Card Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pembroke Management LTD raised its stake in shares of CPI Card Group by 87.9% in the third quarter. Pembroke Management LTD now owns 99,567 shares of the company’s stock valued at $1,507,000 after acquiring an additional 46,575 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in CPI Card Group during the 2nd quarter worth about $347,000. IFP Advisors Inc raised its position in CPI Card Group by 52.5% in the 2nd quarter. IFP Advisors Inc now owns 4,342 shares of the company’s stock valued at $103,000 after purchasing an additional 1,494 shares in the last quarter. Corton Capital Inc. purchased a new position in shares of CPI Card Group in the 2nd quarter valued at about $232,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of CPI Card Group by 67.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 17,669 shares of the company’s stock valued at $268,000 after buying an additional 7,133 shares during the period. Hedge funds and other institutional investors own 22.08% of the company’s stock.

CPI Card Group Price Performance

PMTS traded up $0.09 on Monday, reaching $11.38. 75,111 shares of the company’s stock were exchanged, compared to its average volume of 37,760. CPI Card Group has a twelve month low of $10.81 and a twelve month high of $34.25. The stock has a market cap of $129.62 million, a PE ratio of 9.48 and a beta of 1.29. The stock’s fifty day moving average price is $14.33 and its 200-day moving average price is $14.85.

CPI Card Group Company Profile

CPI Card Group, Inc (NASDAQ: PMTS) is a leading provider of payment, identification and related credential solutions for financial institutions, governments and private enterprises. The company specializes in the design, manufacturing and personalization of secure plastic and metal cards, including EMV chip, magnetic-stripe and contactless cards. CPI Card Group also offers digital credentialing services and cloud-based card management tools that enable real-time controls, mobile wallet integration, fraud monitoring and analytics.

With a focus on security and innovation, CPI Card Group integrates advanced features such as holograms, microprinting, RFID/NFC technology and laser-engraved artwork into its card products.