Short Interest in CPI Card Group Inc. (NASDAQ:PMTS) Rises By 21.1%

CPI Card Group Inc. (NASDAQ:PMTS) saw a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 86,700 shares, an increase of 21.1% from the January 31st total of 71,600 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 34,800 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PMTS shares. Roth Mkm reissued a “buy” rating and set a $40.00 target price on shares of CPI Card Group in a research note on Wednesday. B. Riley upped their price target on CPI Card Group from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday. Lake Street Capital boosted their price objective on CPI Card Group from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, DA Davidson increased their target price on CPI Card Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $37.25.

CPI Card Group Stock Down 3.0 %

Shares of CPI Card Group stock traded down $0.88 on Thursday, hitting $28.16. 22,656 shares of the company were exchanged, compared to its average volume of 28,987. The company has a 50-day moving average price of $30.20 and a 200 day moving average price of $28.44. The stock has a market capitalization of $314.18 million, a price-to-earnings ratio of 21.49 and a beta of 1.43. CPI Card Group has a 1-year low of $15.00 and a 1-year high of $35.19.

Hedge Funds Weigh In On CPI Card Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Virtus Investment Advisers Inc. acquired a new stake in shares of CPI Card Group in the 4th quarter worth $84,000. Squarepoint Ops LLC increased its position in CPI Card Group by 113.7% during the fourth quarter. Squarepoint Ops LLC now owns 15,760 shares of the company’s stock worth $471,000 after purchasing an additional 8,386 shares during the last quarter. Two Sigma Advisers LP raised its stake in CPI Card Group by 87.2% during the fourth quarter. Two Sigma Advisers LP now owns 32,200 shares of the company’s stock worth $962,000 after purchasing an additional 15,000 shares during the period. Two Sigma Investments LP raised its stake in CPI Card Group by 121.6% during the fourth quarter. Two Sigma Investments LP now owns 37,680 shares of the company’s stock worth $1,126,000 after purchasing an additional 20,677 shares during the period. Finally, Man Group plc acquired a new position in CPI Card Group in the 4th quarter valued at about $364,000. 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.