Insider Buying: CPI Card Group Inc. (NASDAQ:PMTS) Director Purchases $65,020.00 in Stock

CPI Card Group Inc. (NASDAQ:PMTS) Director H Sanford Riley bought 2,000 shares of the stock in a transaction on Monday, December 2nd. The stock was bought at an average price of $32.51 per share, for a total transaction of $65,020.00. Following the completion of the purchase, the director now directly owns 9,500 shares in the company, valued at approximately $308,845. The trade was a 26.67 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

CPI Card Group Trading Down 1.1 %

PMTS stock opened at $32.74 on Friday. The stock has a 50-day moving average price of $26.10 and a two-hundred day moving average price of $26.88. CPI Card Group Inc. has a 12-month low of $15.00 and a 12-month high of $34.01. The company has a market cap of $365.38 million, a PE ratio of 24.99 and a beta of 1.39.

Institutional Investors Weigh In On CPI Card Group

Institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its position in 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 during the period. BNP Paribas Financial Markets grew its position in CPI Card Group by 182.9% during the third quarter. BNP Paribas Financial Markets now owns 5,281 shares of the company’s stock valued at $147,000 after acquiring an additional 3,414 shares during the period. Rhumbline Advisers boosted its position in shares of CPI Card Group by 32.8% in the second quarter. Rhumbline Advisers now owns 6,302 shares of the company’s stock worth $172,000 after buying an additional 1,555 shares during the period. Barclays PLC boosted its position in shares of CPI Card Group by 251.2% in the third quarter. Barclays PLC now owns 7,330 shares of the company’s stock worth $205,000 after buying an additional 5,243 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of CPI Card Group in the third quarter worth about $205,000. Hedge funds and other institutional investors own 22.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PMTS. Lake Street Capital lifted 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. DA Davidson initiated coverage on CPI Card Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $36.00 target price for the company. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $37.67.

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.