CPI Card Group (NASDAQ:PMTS) Cut to “Buy” at StockNews.com

CPI Card Group (NASDAQ:PMTS) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Other equities research analysts have also issued reports about the stock. Roth Mkm began coverage on shares of CPI Card Group in a research note on Friday, February 23rd. They set a “buy” rating and a $40.00 target price on the stock. Roth Capital reiterated a “buy” rating on shares of CPI Card Group in a report on Friday, February 23rd.

CPI Card Group Stock Up 1.1 %

Shares of NASDAQ:PMTS opened at $26.15 on Tuesday. The firm has a 50 day moving average of $19.03 and a 200 day moving average of $18.33. The company has a market capitalization of $290.84 million, a price-to-earnings ratio of 16.66 and a beta of 1.02. CPI Card Group has a 52 week low of $12.65 and a 52 week high of $29.94.

CPI Card Group (NASDAQ:PMTS) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $102.87 million for the quarter, compared to analyst estimates of $104.70 million. CPI Card Group had a net margin of 4.26% and a negative return on equity of 33.75%. During the same period in the previous year, the company earned $1.06 earnings per share. On average, sell-side analysts expect that CPI Card Group will post 2.22 EPS for the current year.

Insider Activity at CPI Card Group

In related news, major shareholder Equity Ulc Parallel49 sold 244,314 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $18.03, for a total value of $4,404,981.42. Following the transaction, the insider now owns 6,314,511 shares in the company, valued at approximately $113,850,633.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On CPI Card Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in CPI Card Group in the 3rd quarter valued at approximately $84,000. UBS Group AG increased its holdings in CPI Card Group by 12.6% in the 3rd quarter. UBS Group AG now owns 171,225 shares of the company’s stock valued at $3,171,000 after purchasing an additional 19,135 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of CPI Card Group by 49.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,286 shares of the company’s stock valued at $431,000 after acquiring an additional 7,712 shares in the last quarter. Kerrisdale Advisers LLC grew its stake in shares of CPI Card Group by 38.8% during the third quarter. Kerrisdale Advisers LLC now owns 117,650 shares of the company’s stock valued at $2,179,000 after acquiring an additional 32,871 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of CPI Card Group during the fourth quarter valued at about $380,000. Institutional investors and hedge funds own 22.08% of the company’s stock.

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.