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

CPI Card Group Inc. (NASDAQ:PMTS) was the recipient of a large growth in short interest in February. As of February 15th, there was short interest totalling 86,700 shares, a growth of 21.1% from the January 31st total of 71,600 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average daily volume of 34,800 shares, the short-interest ratio is currently 2.5 days.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. DA Davidson lifted their target price on CPI Card Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday. Roth Mkm reaffirmed a “buy” rating and set a $40.00 price objective on shares of CPI Card Group in a research report on Wednesday. B. Riley boosted their price objective on CPI Card Group from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Lake Street Capital raised their target price on shares of CPI Card Group from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $37.25.

Hedge Funds Weigh In On CPI Card Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PMTS. BNP Paribas Financial Markets increased its stake 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 worth $147,000 after acquiring an additional 3,414 shares during the last quarter. MetLife Investment Management LLC increased its position in 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 purchasing an additional 1,656 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in CPI Card Group by 109.0% in the third 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 during the last quarter. State Street Corp lifted its position in CPI Card Group by 9.3% during the third quarter. State Street Corp now owns 73,150 shares of the company’s stock valued at $2,036,000 after purchasing an additional 6,214 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of CPI Card Group in the 3rd quarter worth $305,000. 22.08% of the stock is owned by institutional investors.

CPI Card Group Stock Down 0.5 %

PMTS opened at $28.19 on Friday. The company has a market capitalization of $316.88 million, a PE ratio of 21.52 and a beta of 1.36. The firm has a 50-day simple moving average of $30.04 and a two-hundred day simple moving average of $28.44. CPI Card Group has a 52 week low of $15.00 and a 52 week high of $35.19.

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.