CPI Card Group Inc. (NASDAQ:PMTS) Short Interest Down 27.4% in December

CPI Card Group Inc. (NASDAQ:PMTS) saw a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 74,300 shares, a decline of 27.4% from the November 30th total of 102,300 shares. Based on an average daily trading volume, of 37,800 shares, the short-interest ratio is presently 2.0 days. Currently, 1.3% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

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

CPI Card Group Trading Down 3.3 %

CPI Card Group stock traded down $1.08 during midday trading on Friday, reaching $31.90. 17,194 shares of the stock traded hands, compared to its average volume of 30,068. The firm has a market cap of $355.97 million, a PE ratio of 24.35 and a beta of 1.39. The company has a 50-day simple moving average of $28.99 and a two-hundred day simple moving average of $27.60. CPI Card Group has a 12-month low of $15.00 and a 12-month high of $35.19.

Insiders Place Their Bets

In other CPI Card Group news, Director H Sanford Riley purchased 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was acquired at an average cost 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 trade represents a 26.67 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $21.00, for a total transaction of $28,980,000.00. Following the completion of the sale, the insider now owns 4,813,977 shares in the company, valued at approximately $101,093,517. This trade represents a 22.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of CPI Card Group

A number of large investors have recently made changes to their positions in PMTS. Bank of New York Mellon Corp increased its holdings in shares of CPI Card Group by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 44,773 shares of the company’s stock valued at $1,220,000 after purchasing an additional 3,158 shares in the last quarter. Rhumbline Advisers raised its holdings in CPI Card Group by 32.8% during the second quarter. Rhumbline Advisers now owns 6,302 shares of the company’s stock worth $172,000 after purchasing an additional 1,555 shares during the last quarter. Privium Fund Management UK Ltd purchased a new stake in CPI Card Group during the second quarter worth $257,000. Dimensional Fund Advisors LP grew its holdings in CPI Card Group by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 23,979 shares of the company’s stock valued at $653,000 after purchasing an additional 5,783 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of CPI Card Group by 139.0% in the second quarter. Marshall Wace LLP now owns 39,273 shares of the company’s stock valued at $1,070,000 after buying an additional 22,841 shares in the last quarter. 22.08% of the stock is currently owned by hedge funds and other institutional investors.

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.