Insider Buying: CPI Card Group Inc. (NASDAQ:PMTS) Director Acquires 2,000 Shares of Stock

CPI Card Group Inc. (NASDAQ:PMTS) Director H Sanford Riley acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was acquired at an average cost of $32.51 per share, with a total value of $65,020.00. Following the completion of the acquisition, the director now owns 9,500 shares in the company, valued at $308,845. This trade represents a 26.67 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

CPI Card Group Price Performance

Shares of NASDAQ:PMTS opened at $33.73 on Wednesday. The firm has a fifty day moving average price of $25.90 and a two-hundred day moving average price of $26.80. The company has a market cap of $376.43 million, a price-to-earnings ratio of 25.75 and a beta of 1.39. CPI Card Group Inc. has a one year low of $15.00 and a one year high of $33.87.

Institutional Investors Weigh In On CPI Card Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in CPI Card Group by 3.1% in the first quarter. Vanguard Group Inc. now owns 340,945 shares of the company’s stock valued at $6,089,000 after purchasing an additional 10,265 shares in the last quarter. Vector Capital Management L.P. increased its holdings in shares of CPI Card Group by 77.7% in the 2nd quarter. Vector Capital Management L.P. now owns 248,737 shares of the company’s stock worth $6,778,000 after buying an additional 108,756 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of CPI Card Group by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 23,979 shares of the company’s stock valued at $653,000 after buying an additional 5,783 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of CPI Card Group during the 3rd quarter worth $205,000. Finally, Rhumbline Advisers raised its position in CPI Card Group by 32.8% during the second quarter. Rhumbline Advisers now owns 6,302 shares of the company’s stock valued at $172,000 after purchasing an additional 1,555 shares in the last quarter. Hedge funds and other institutional investors own 22.08% of the company’s stock.

Wall Street Analyst Weigh In

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

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.