CPI Card Group Inc. (NASDAQ:PMTS) Short Interest Down 27.4% in December

CPI Card Group Inc. (NASDAQ:PMTS) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 74,300 shares, a decline of 27.4% from the November 30th total of 102,300 shares. Based on an average daily trading volume, of 37,800 shares, the short-interest ratio is presently 2.0 days. Currently, 1.3% of the shares of the company are sold short.

Analyst Ratings Changes

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

Insider Transactions at CPI Card Group

In related news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the 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 transaction, the insider now owns 4,813,977 shares in the company, valued at approximately $101,093,517. This represents a 22.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director H Sanford Riley acquired 2,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were acquired at an average price of $32.51 per share, with a total value of $65,020.00. Following the completion of the purchase, the director now owns 9,500 shares in the company, valued at approximately $308,845. This trade represents a 26.67 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On CPI Card Group

Hedge funds have recently bought and sold shares of the business. Vector Capital Management L.P. lifted its holdings in CPI Card Group by 77.7% during the second quarter. Vector Capital Management L.P. now owns 248,737 shares of the company’s stock valued at $6,778,000 after purchasing an additional 108,756 shares in the last quarter. Geode Capital Management LLC raised its position in shares of CPI Card Group by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 108,629 shares of the company’s stock worth $3,024,000 after purchasing an additional 2,828 shares during the last quarter. State Street Corp lifted its stake in CPI Card Group by 9.3% in the 3rd quarter. State Street Corp now owns 73,150 shares of the company’s stock valued at $2,036,000 after buying an additional 6,214 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in CPI Card Group by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 44,773 shares of the company’s stock worth $1,220,000 after buying an additional 3,158 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in CPI Card Group by 139.0% during the 2nd quarter. Marshall Wace LLP now owns 39,273 shares of the company’s stock worth $1,070,000 after buying an additional 22,841 shares in the last quarter. Hedge funds and other institutional investors own 22.08% of the company’s stock.

CPI Card Group Stock Down 3.3 %

Shares of PMTS stock traded down $1.08 during mid-day trading on Friday, hitting $31.90. 17,194 shares of the stock were exchanged, compared to its average volume of 30,068. CPI Card Group has a 52-week low of $15.00 and a 52-week high of $35.19. The company has a market cap of $355.97 million, a PE ratio of 24.35 and a beta of 1.39. The firm has a fifty day moving average of $28.99 and a 200 day moving average of $27.60.

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.