CPI Card Group Inc. (NASDAQ:PMTS - Get Free Report) Director Ravi Mallela bought 1,000 shares of the company's stock in a transaction on Monday, September 14th. The shares were purchased at an average cost of $21.50 per share, for a total transaction of $21,500.00. Following the transaction, the director owned 12,471 shares in the company, valued at approximately $268,126.50. This represents a 8.72% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
CPI Card Group Stock Up 7.8%
PMTS stock opened at $24.26 on Tuesday. The firm has a market cap of $279.72 million, a PE ratio of 21.10 and a beta of 0.97. The business has a 50 day moving average of $24.52 and a 200-day moving average of $19.43. CPI Card Group Inc. has a 12-month low of $10.81 and a 12-month high of $31.25.
Trending Headlines about CPI Card Group
Here are the key news stories impacting CPI Card Group this week:
- Positive Sentiment: Company insiders made approximately $671,500 in combined purchases at $21.50 per share. Chairman H. Riley, directors Nicholas Peters and Ravi Mallela, and director Marc Sheinbaum all increased their holdings, signaling confidence in CPI Card Group’s valuation and prospects. Insider purchase filing
- Neutral Sentiment: CPI Card Group completed a secondary public share offering involving existing stockholders. Because the shares were sold by current holders rather than issued by the company, the transaction does not directly raise capital for CPI Card Group, but it can increase the public float and improve trading liquidity. Secondary share offering announcement
- Negative Sentiment: Major shareholder Equity Ulc Parallel49 sold 2.69 million PMTS shares for approximately $54.9 million at an average price of $20.43. The sizable disposition may create an overhang or raise concerns about a large investor reducing its exposure, although it also expands the stock’s available float. Parallel49 SEC filing
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on PMTS. Wall Street Zen raised CPI Card Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 25th. DA Davidson boosted their price target on shares of CPI Card Group from $30.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of CPI Card Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. B. Riley Financial restated a "buy" rating on shares of CPI Card Group in a report on Friday, August 7th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $32.00 price objective on shares of CPI Card Group in a research report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, CPI Card Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.25.
Read Our Latest Analysis on CPI Card Group
Institutional Trading of CPI Card Group
Several hedge funds have recently made changes to their positions in PMTS. Bank of New York Mellon Corp purchased a new position in shares of CPI Card Group during the 2nd quarter valued at $910,000. Creek Drive Management Group LLC bought a new position in shares of CPI Card Group during the 4th quarter worth $440,000. Walleye Capital LLC purchased a new stake in CPI Card Group in the 1st quarter worth about $358,000. Potomac Capital Management Inc. bought a new stake in CPI Card Group in the 4th quarter valued at about $337,000. Finally, Janney Montgomery Scott LLC lifted its holdings in CPI Card Group by 10.1% during the first quarter. Janney Montgomery Scott LLC now owns 14,736 shares of the company's stock valued at $214,000 after purchasing an additional 1,346 shares during the last quarter. 22.08% of the stock is currently owned by institutional investors.
CPI Card Group Company Profile
(
Get Free Report)
CPI Card Group Inc is a payment technology company that produces and supports payment cards for financial institutions, fintech companies, government agencies and other organizations. The company's offerings include credit, debit and prepaid cards, along with card programs designed for consumer, commercial and government payments.
Its products and services include EMV chip cards, contactless and dual-interface cards, metal cards, environmentally focused card products, card personalization and fulfillment.
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