Short Interest in CPI Card Group Inc. (NASDAQ:PMTS) Drops By 20.8%

CPI Card Group Inc. (NASDAQ:PMTS) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 69,500 shares, a decrease of 20.8% from the October 31st total of 87,800 shares. Based on an average trading volume of 35,500 shares, the days-to-cover ratio is presently 2.0 days. Approximately 1.2% of the company’s stock are sold short.

CPI Card Group Stock Up 1.5 %

Shares of NASDAQ PMTS opened at $30.57 on Friday. The stock has a market capitalization of $341.13 million, a P/E ratio of 23.34 and a beta of 1.21. The stock’s 50 day moving average price is $25.56 and its two-hundred day moving average price is $26.58. CPI Card Group has a 52-week low of $15.00 and a 52-week high of $31.00.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Lake Street Capital upped their target price on CPI Card Group from $22.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. DA Davidson assumed coverage on shares of CPI Card Group in a report on Friday, November 22nd. They issued a “buy” rating and a $36.00 price target on the stock. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $36.33.

Insiders Place Their Bets

In other CPI Card Group news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the business’s stock in a transaction 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 $101,093,517. The trade was a 22.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sonya Vollmer sold 3,660 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were 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. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On CPI Card Group

Large investors have recently added to or reduced their stakes in the company. Vector Capital Management L.P. increased its stake 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 during the last quarter. Marshall Wace LLP grew its position in shares of CPI Card Group by 139.0% during the 2nd quarter. Marshall Wace LLP now owns 39,273 shares of the company’s stock valued at $1,070,000 after buying an additional 22,841 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in CPI Card Group during the third quarter worth about $449,000. Jacobs Levy Equity Management Inc. raised its stake in CPI Card Group by 109.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 26,655 shares of the company’s stock worth $742,000 after acquiring an additional 13,901 shares during the period. Finally, Jane Street Group LLC bought a new position in CPI Card Group in the third quarter worth about $305,000. 22.08% of the stock is currently owned by institutional investors.

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.