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

CPI Card Group Inc. (NASDAQ:PMTS) saw a significant growth in short interest during the month of 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. Based on an average trading volume of 28,950 shares, the days-to-cover ratio is currently 9.0 days. Approximately 2.4% of the company’s stock are sold short. Approximately 2.4% of the company’s stock are sold short. Based on an average trading volume of 28,950 shares, the days-to-cover ratio is currently 9.0 days.

Insider Activity at CPI Card Group

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

Institutional Trading of CPI Card Group

A number of large investors have recently bought and sold shares of the business. Jane Street Group LLC purchased a new stake in shares of CPI Card Group during the first quarter worth approximately $223,000. Acadian Asset Management LLC acquired a new position in CPI Card Group in the 1st quarter valued at $248,000. Janney Montgomery Scott LLC purchased a new position in CPI Card Group during the 2nd quarter worth $347,000. IFP Advisors Inc lifted its stake in shares of CPI Card Group by 52.5% in the 2nd quarter. IFP Advisors Inc now owns 4,342 shares of the company’s stock worth $103,000 after acquiring an additional 1,494 shares during the period. Finally, Corton Capital Inc. acquired a new stake in shares of CPI Card Group in the 2nd quarter worth $232,000. Institutional investors and hedge funds own 22.08% of the company’s stock.

CPI Card Group Stock Performance

NASDAQ PMTS traded up $0.09 on Monday, reaching $11.38. The stock had a trading volume of 75,111 shares, compared to its average volume of 37,760. The stock has a market cap of $129.62 million, a P/E ratio of 9.48 and a beta of 1.29. CPI Card Group has a 12-month low of $10.81 and a 12-month high of $34.25. The business’s 50-day moving average price is $14.33 and its 200 day moving average price is $14.85.

Analysts Set New Price Targets

A number of research analysts have recently commented on PMTS shares. B. Riley Financial dropped their price objective on CPI Card Group from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Zacks Research upgraded shares of CPI Card Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. DA Davidson cut their price objective 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. Roth Mkm set a $30.00 target price on shares of CPI Card Group in a report on Tuesday, November 4th. Finally, Lake Street Capital set a $25.00 price target on shares of CPI Card Group in a research note on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, CPI Card Group has an average rating of “Moderate Buy” and an average target price of $28.25.

About CPI Card Group

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.