Lake Street Capital Forecasts Strong Price Appreciation for CPI Card Group (NASDAQ:PMTS) Stock

CPI Card Group (NASDAQ:PMTS) had its target price upped by Lake Street Capital from $33.00 to $37.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Separately, DA Davidson assumed coverage on shares of CPI Card Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $36.00 price target on the stock. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $37.67.

CPI Card Group Stock Performance

Shares of NASDAQ PMTS opened at $33.11 on Wednesday. The business’s 50 day moving average price is $26.10 and its 200-day moving average price is $26.88. CPI Card Group has a fifty-two week low of $15.00 and a fifty-two week high of $34.01. The company has a market cap of $369.47 million, a price-to-earnings ratio of 25.11 and a beta of 1.39.

Insiders Place Their Bets

In other CPI Card Group news, insider Sonya Vollmer sold 3,660 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.10, for a total value of $91,866.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director H Sanford Riley bought 2,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were acquired at an average price of $32.51 per share, for a total transaction of $65,020.00. Following the completion of the transaction, the director now directly owns 9,500 shares in the company, valued at approximately $308,845. This trade represents a 26.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.20% of the stock is owned by insiders.

Institutional Trading of CPI Card Group

Institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Management LLC lifted its position 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 valued at $82,000 after acquiring an additional 1,656 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in CPI Card Group by 182.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,281 shares of the company’s stock valued at $147,000 after purchasing an additional 3,414 shares in the last quarter. Rhumbline Advisers boosted its stake in CPI Card Group by 32.8% during the 2nd 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 last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of CPI Card Group during the third quarter worth $205,000. Finally, Barclays PLC raised its position in shares of CPI Card Group by 251.2% in the third quarter. Barclays PLC now owns 7,330 shares of the company’s stock valued at $205,000 after buying an additional 5,243 shares during the last quarter. 22.08% of the stock is currently owned by hedge funds and other institutional investors.

CPI Card Group Company 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.