Key Points
- Equity Ulc Parallel49 sold 2,126,056 shares of CPI Card Group at an average price of $13.51 for a total of $28,723,016.56, reducing its stake by 44.16% to 2,687,921 shares (worth about $36.31M).
- CPI Card Group opened at $17.67 with a market cap of ~$201.3M and a 52-week range of $11.64–$35.19, and it reported a quarterly EPS miss ($0.47 vs. $0.63 expected) and slightly below‑forecast revenue amid mixed analyst ratings and an average target of $30.60.
CPI Card Group Inc. (NASDAQ:PMTS - Get Free Report) major shareholder Equity Ulc Parallel49 sold 2,126,056 shares of the business's stock in a transaction 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 transaction, the insider directly owned 2,687,921 shares of the company's stock, valued at $36,313,812.71. This trade represents a 44.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
CPI Card Group Price Performance
NASDAQ:PMTS opened at $17.67 on Friday. The stock has a market capitalization of $201.26 million, a PE ratio of 14.73 and a beta of 1.20. CPI Card Group Inc. has a fifty-two week low of $11.64 and a fifty-two week high of $35.19. The business's 50-day simple moving average is $14.93 and its 200-day simple moving average is $17.59.
CPI Card Group (NASDAQ:PMTS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.63 by ($0.16). The company had revenue of $137.97 million for the quarter, compared to analyst estimates of $140.62 million. CPI Card Group had a negative return on equity of 58.98% and a net margin of 2.79%. On average, research analysts expect that CPI Card Group Inc. will post 1.63 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. Weiss Ratings lowered CPI Card Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, October 8th. Lake Street Capital set a $25.00 price objective on shares of CPI Card Group in a report on Wednesday, November 5th. B. Riley reduced their target price on shares of CPI Card Group from $34.00 to $28.00 and set a "buy" rating for the company in a report on Monday, November 10th. Wall Street Zen lowered shares of CPI Card Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Zacks Research downgraded shares of CPI Card Group from a "hold" rating to a "strong sell" rating in a research note on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, CPI Card Group presently has an average rating of "Hold" and an average target price of $30.60.
Read Our Latest Report on CPI Card Group
Institutional Trading of CPI Card Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacific Ridge Capital Partners LLC grew its position in shares of CPI Card Group by 75.0% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 391,325 shares of the company's stock valued at $5,925,000 after acquiring an additional 167,764 shares during the period. Wasatch Advisors LP grew its holdings in CPI Card Group by 56.3% during the second quarter. Wasatch Advisors LP now owns 357,754 shares of the company's stock worth $8,486,000 after purchasing an additional 128,808 shares during the period. Vector Capital Management L.P. raised its stake in CPI Card Group by 18.6% in the third quarter. Vector Capital Management L.P. now owns 459,314 shares of the company's stock valued at $6,954,000 after buying an additional 71,891 shares during the period. Nuveen LLC bought a new stake in CPI Card Group in the first quarter valued at approximately $1,685,000. Finally, Pembroke Management LTD lifted its position in shares of CPI Card Group by 87.9% in the third quarter. Pembroke Management LTD now owns 99,567 shares of the company's stock valued at $1,507,000 after buying an additional 46,575 shares during the last quarter. 22.08% of the stock is owned by institutional investors.
About CPI Card Group
(
Get Free Report)
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.
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