CPI Card Group Inc. (NASDAQ:PMTS) Short Interest Update

CPI Card Group Inc. (NASDAQ:PMTS) was the recipient of a large drop in short interest in January. As of January 31st, there was short interest totalling 71,600 shares, a drop of 29.2% from the January 15th total of 101,200 shares. Based on an average daily volume of 37,200 shares, the short-interest ratio is currently 1.9 days. Approximately 1.2% of the shares of the stock are sold short.

CPI Card Group Stock Down 0.3 %

Shares of PMTS stock traded down $0.10 during mid-day trading on Friday, hitting $29.08. 10,305 shares of the company’s stock were exchanged, compared to its average volume of 29,990. CPI Card Group has a fifty-two week low of $15.00 and a fifty-two week high of $35.19. The stock has a 50-day simple moving average of $30.77 and a two-hundred day simple moving average of $28.03. The stock has a market cap of $324.53 million, a price-to-earnings ratio of 22.20 and a beta of 1.43.

Insider Activity at CPI Card Group

In related news, Director H Sanford Riley bought 2,000 shares of the stock in a transaction on Monday, December 2nd. The shares were purchased at an average price of $32.51 per share, for a total transaction of $65,020.00. Following the acquisition, the director now owns 9,500 shares in the company, valued at $308,845. This represents a 26.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CPI Card Group

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its position in shares of CPI Card Group by 1,635.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,649 shares of the company’s stock worth $49,000 after buying an additional 1,554 shares during the period. Wells Fargo & Company MN raised its position in shares of CPI Card Group by 44.9% in the 4th 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 period. Tower Research Capital LLC TRC raised its position in shares of CPI Card Group by 355.6% in the 4th 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 during the period. MetLife Investment Management LLC raised its position in shares of CPI Card Group by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 2,939 shares of the company’s stock worth $82,000 after buying an additional 1,656 shares during the period. Finally, IFP Advisors Inc raised its position in shares of CPI Card Group by 96.6% in the 4th quarter. IFP Advisors Inc now owns 3,048 shares of the company’s stock worth $91,000 after buying an additional 1,498 shares during the period. Institutional investors and hedge funds own 22.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PMTS shares. DA Davidson started coverage on CPI Card Group in a report on Friday, November 22nd. They set a “buy” rating and a $36.00 target price on the stock. Lake Street Capital raised their price objective on CPI Card Group from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $37.67.

CPI Card Group Company Profile

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.