CPI Card Group (NASDAQ:PMTS) Coverage Initiated at DA Davidson

Equities research analysts at DA Davidson started coverage on shares of CPI Card Group (NASDAQ:PMTS) in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $36.00 price target on the stock. DA Davidson’s target price points to a potential upside of 24.22% from the company’s current price.

Separately, Lake Street Capital boosted their target price on CPI Card Group from $22.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $36.33.

CPI Card Group Price Performance

Shares of NASDAQ PMTS opened at $28.98 on Friday. The company has a market capitalization of $323.42 million, a price-to-earnings ratio of 22.12 and a beta of 1.21. The business has a 50-day moving average of $25.19 and a two-hundred day moving average of $26.24. CPI Card Group has a 1 year low of $15.00 and a 1 year high of $31.00.

Insider Buying and Selling

In other CPI Card Group news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.00, for a total transaction of $28,980,000.00. Following the transaction, the insider now owns 4,813,977 shares of the company’s stock, valued at $101,093,517. This represents a 22.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Sonya Vollmer sold 3,660 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.10, for a total value of $91,866.00. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. MetLife Investment Management LLC lifted its stake in shares of CPI Card Group by 129.1% during the 3rd 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 period. BNP Paribas Financial Markets lifted its stake in shares of CPI Card Group by 182.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,281 shares of the company’s stock worth $147,000 after purchasing an additional 3,414 shares during the period. Rhumbline Advisers lifted its stake in shares of CPI Card Group by 32.8% during the 2nd quarter. Rhumbline Advisers now owns 6,302 shares of the company’s stock worth $172,000 after purchasing an additional 1,555 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of CPI Card Group in the 3rd quarter worth $205,000. Finally, Barclays PLC raised its position in shares of CPI Card Group by 251.2% in the 3rd quarter. Barclays PLC now owns 7,330 shares of the company’s stock worth $205,000 after buying an additional 5,243 shares during the period. Hedge funds and other institutional investors 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.