CPI Card Group Inc. (NASDAQ:PMTS) Sees Large Drop in Short Interest

CPI Card Group Inc. (NASDAQ:PMTS - Get Free Report) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 71,600 shares, a decrease 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 short sold.

CPI Card Group Price Performance

PMTS stock traded up $0.50 on Tuesday, reaching $29.58. 6,077 shares of the company traded hands, compared to its average volume of 26,471. CPI Card Group has a one year low of $15.00 and a one year high of $35.19. The company has a market cap of $330.11 million, a P/E ratio of 22.58 and a beta of 1.43. The firm has a fifty day simple moving average of $30.69 and a 200-day simple moving average of $28.03.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PMTS. DA Davidson started coverage on CPI Card Group in a research report on Friday, November 22nd. They set a "buy" rating and a $36.00 price objective on the stock. Lake Street Capital increased 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 analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, CPI Card Group has an average rating of "Buy" and an average target price of $37.67.

Insider Buying and Selling

In other CPI Card Group news, Director H Sanford Riley bought 2,000 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were acquired at an average cost of $32.51 per share, for a total transaction of $65,020.00. Following the purchase, the director now directly owns 9,500 shares of the company's stock, valued at $308,845. The trade was a 26.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is currently owned by insiders.

Institutional Trading of CPI Card Group

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. grew its holdings in shares of CPI Card Group by 1,635.8% in the fourth quarter. Russell Investments Group Ltd. now owns 1,649 shares of the company's stock worth $49,000 after acquiring an additional 1,554 shares during the period. Wells Fargo & Company MN grew its holdings in shares of CPI Card Group by 44.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,503 shares of the company's stock worth $75,000 after acquiring an additional 776 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of CPI Card Group by 355.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,665 shares of the company's stock worth $80,000 after acquiring an additional 2,080 shares during the period. MetLife Investment Management LLC grew its holdings in shares of CPI Card Group by 129.1% in the third quarter. MetLife Investment Management LLC now owns 2,939 shares of the company's stock worth $82,000 after acquiring an additional 1,656 shares during the period. Finally, Virtus Investment Advisers Inc. bought a new stake in shares of CPI Card Group in the fourth quarter worth $84,000. Institutional investors own 22.08% of the company's stock.

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.