CPI Card Group (NASDAQ:PMTS) Coverage Initiated by Analysts at DA Davidson

DA Davidson started coverage on shares of CPI Card Group (NASDAQ:PMTS) in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $36.00 price target on the stock.

Separately, Lake Street Capital lifted their target price on CPI Card Group from $22.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $36.33.

CPI Card Group Stock Up 1.6 %

Shares of CPI Card Group stock opened at $30.24 on Friday. CPI Card Group has a 12 month low of $15.00 and a 12 month high of $31.00. The stock has a market cap of $337.48 million, a PE ratio of 23.08 and a beta of 1.21. The business has a fifty day simple moving average of $25.37 and a 200-day simple moving average of $26.47.

Insider Activity at CPI Card Group

In other CPI Card Group news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $21.00, for a total value of $28,980,000.00. Following the completion of the sale, the insider now directly owns 4,813,977 shares of the company’s stock, valued at $101,093,517. The trade was a 22.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sonya Vollmer sold 3,660 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.10, for a total transaction of $91,866.00. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in CPI Card Group by 32.8% during the second quarter. Rhumbline Advisers now owns 6,302 shares of the company’s stock worth $172,000 after purchasing an additional 1,555 shares during the period. MetLife Investment Management LLC lifted its stake in shares of CPI Card Group by 129.1% in the third quarter. MetLife Investment Management LLC now owns 2,939 shares of the company’s stock worth $82,000 after buying an additional 1,656 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in shares of CPI Card Group by 10.2% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 24,653 shares of the company’s stock worth $672,000 after buying an additional 2,283 shares during the period. Geode Capital Management LLC grew its stake in CPI Card Group by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 108,629 shares of the company’s stock valued at $3,024,000 after buying an additional 2,828 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in CPI Card Group by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 44,773 shares of the company’s stock worth $1,220,000 after acquiring an additional 3,158 shares during the last quarter. Institutional investors and hedge funds 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.