Bank of New York Mellon Corp Sells 11,933 Shares of CPI Card Group Inc. (NASDAQ:PMTS)

Bank of New York Mellon Corp reduced its holdings in shares of CPI Card Group Inc. (NASDAQ:PMTS - Free Report) by 30.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,584 shares of the company's stock after selling 11,933 shares during the period. Bank of New York Mellon Corp owned 0.25% of CPI Card Group worth $824,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PMTS. Jane Street Group LLC bought a new position in CPI Card Group in the 3rd quarter valued at approximately $305,000. Geode Capital Management LLC lifted its stake in shares of CPI Card Group by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 108,629 shares of the company's stock worth $3,024,000 after purchasing an additional 2,828 shares during the period. Ritholtz Wealth Management grew its position in shares of CPI Card Group by 16.9% during the 4th quarter. Ritholtz Wealth Management now owns 18,840 shares of the company's stock valued at $563,000 after acquiring an additional 2,723 shares during the period. Barclays PLC grew its holdings in CPI Card Group by 251.2% during the third quarter. Barclays PLC now owns 7,330 shares of the company's stock valued at $205,000 after purchasing an additional 5,243 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in shares of CPI Card Group during the 4th quarter valued at approximately $264,000. Institutional investors own 22.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. B. Riley lifted their price target on shares of CPI Card Group from $33.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Lake Street Capital lifted their target price on shares of CPI Card Group from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. DA Davidson upped their target price on shares of CPI Card Group from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, Roth Mkm reissued a "buy" rating and set a $40.00 price target on shares of CPI Card Group in a report on Wednesday, March 5th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CPI Card Group currently has a consensus rating of "Buy" and a consensus price target of $37.25.

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CPI Card Group Trading Down 5.1 %

Shares of NASDAQ:PMTS traded down $1.54 during midday trading on Friday, reaching $28.80. 25,534 shares of the company were exchanged, compared to its average volume of 32,937. The stock has a market cap of $323.74 million, a PE ratio of 21.98 and a beta of 1.36. The business's fifty day moving average is $29.53 and its two-hundred day moving average is $28.63. CPI Card Group Inc. has a one year low of $16.08 and a one year high of $35.19.

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.