CPI Card Group’s (PMTS) “Buy” Rating Reaffirmed at DA Davidson

CPI Card Group (NASDAQ:PMTS)‘s stock had its “buy” rating restated by stock analysts at DA Davidson in a report issued on Tuesday,Benzinga reports. They presently have a $36.00 price objective on the stock. DA Davidson’s price target would indicate a potential upside of 16.28% from the stock’s previous close.

Separately, Lake Street Capital increased their price target on shares of CPI Card Group from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th.

CPI Card Group Stock Performance

Shares of CPI Card Group stock traded down $0.04 during midday trading on Tuesday, reaching $30.96. 5,318 shares of the company’s stock traded hands, compared to its average volume of 26,969. The stock has a 50 day moving average of $30.36 and a 200-day moving average of $28.20. CPI Card Group has a 12 month low of $15.00 and a 12 month high of $35.19. The company has a market cap of $345.48 million, a PE ratio of 23.63 and a beta of 1.43.

Insider Buying and Selling at CPI Card Group

In other CPI Card Group news, Director H Sanford Riley bought 2,000 shares of CPI Card Group stock in a transaction dated Monday, December 2nd. The shares were purchased at an average cost of $32.51 per share, with a total value of $65,020.00. Following the transaction, the director now directly owns 9,500 shares of the company’s stock, valued at $308,845. This represents a 26.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On CPI Card Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its stake in CPI Card Group by 1,635.8% during the fourth quarter. Russell Investments Group Ltd. now owns 1,649 shares of the company’s stock valued at $49,000 after buying an additional 1,554 shares during the last quarter. Wells Fargo & Company MN raised its holdings in CPI Card Group by 44.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,503 shares of the company’s stock worth $75,000 after buying an additional 776 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of CPI Card Group by 355.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,665 shares of the company’s stock worth $80,000 after buying an additional 2,080 shares in the last quarter. Virtus Investment Advisers Inc. purchased a new stake in shares of CPI Card Group during the fourth quarter valued at approximately $84,000. Finally, MetLife Investment Management LLC increased its position in shares of CPI Card Group by 129.1% during the third quarter. MetLife Investment Management LLC now owns 2,939 shares of the company’s stock valued at $82,000 after acquiring an additional 1,656 shares in the last quarter. Hedge funds and other institutional investors own 22.08% of the company’s stock.

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.