CPI Card Group Inc. (NASDAQ:PMTS) Short Interest Up 47.2% in November

CPI Card Group Inc. (NASDAQ:PMTS) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 102,300 shares, a growth of 47.2% from the November 15th total of 69,500 shares. Based on an average trading volume of 36,900 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.8% of the shares of the company are sold short.

Insider Activity

In other CPI Card Group news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.00, for a total value of $28,980,000.00. Following the sale, the insider now directly owns 4,813,977 shares in the company, valued at $101,093,517. This represents a 22.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director H Sanford Riley bought 2,000 shares of CPI Card Group stock in a transaction dated Monday, December 2nd. The stock was purchased at an average price of $32.51 per share, for a total transaction of $65,020.00. Following the purchase, the director now directly owns 9,500 shares in the company, valued at $308,845. This represents a 26.67 % increase in their position. The disclosure for this purchase can be found here. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On CPI Card Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew 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 purchasing an additional 5,243 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of CPI Card Group by 2.7% during the third quarter. Geode Capital Management LLC now owns 108,629 shares of the company’s stock worth $3,024,000 after buying an additional 2,828 shares during the last quarter. Jane Street Group LLC bought a new position in shares of CPI Card Group in the 3rd quarter valued at $305,000. State Street Corp grew its position in CPI Card Group by 9.3% during the 3rd quarter. State Street Corp now owns 73,150 shares of the company’s stock worth $2,036,000 after acquiring an additional 6,214 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in CPI Card Group by 109.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 26,655 shares of the company’s stock worth $742,000 after purchasing an additional 13,901 shares in the last quarter. 22.08% of the stock is currently owned by institutional investors and hedge funds.

CPI Card Group Trading Up 1.8 %

Shares of PMTS stock traded up $0.59 on Friday, hitting $34.29. The stock had a trading volume of 31,502 shares, compared to its average volume of 29,891. CPI Card Group has a twelve month low of $15.00 and a twelve month high of $34.50. The firm has a market cap of $382.68 million, a P/E ratio of 25.73 and a beta of 1.39. The company has a fifty day moving average price of $26.98 and a two-hundred day moving average price of $27.14.

Analyst Ratings Changes

PMTS has been the topic of several research analyst reports. Lake Street Capital increased their price target on shares of CPI Card Group from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. DA Davidson began coverage on shares of CPI Card Group in a report on Friday, November 22nd. They issued a “buy” rating and a $36.00 price objective on the stock. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, CPI Card Group has a consensus rating of “Buy” and a consensus price target of $37.67.

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.