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

CPI Card Group Inc. (NASDAQ:PMTS - Get Free Report) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 69,500 shares, a decline of 20.8% from the October 31st total of 87,800 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average trading volume of 35,500 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. DA Davidson initiated coverage on CPI Card Group in a report on Friday, November 22nd. They set a "buy" rating and a $36.00 target price for the company. Lake Street Capital raised their target price on shares of CPI Card Group from $22.00 to $33.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. Four investment 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.com, the company currently has an average rating of "Buy" and a consensus price target of $36.33.

CPI Card Group Trading Up 8.0 %

NASDAQ PMTS traded up $2.44 during mid-day trading on Friday, reaching $33.01. 40,979 shares of the company's stock traded hands, compared to its average volume of 29,519. The company has a fifty day simple moving average of $25.56 and a 200-day simple moving average of $26.58. CPI Card Group has a 1-year low of $15.00 and a 1-year high of $33.65. The company has a market cap of $368.36 million, a price-to-earnings ratio of 25.66 and a beta of 1.21.

Insider Transactions at CPI Card Group

In related news, insider Sonya Vollmer sold 3,660 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.10, for a total value of $91,866.00. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 value of $28,980,000.00. Following the sale, the insider now directly owns 4,813,977 shares of the company's stock, valued at approximately $101,093,517. This trade represents a 22.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On CPI Card Group

A number of hedge funds have recently added to or reduced their stakes in the business. MetLife Investment Management LLC lifted its holdings in 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 last quarter. BNP Paribas Financial Markets raised its position in shares of CPI Card Group by 182.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,281 shares of the company's stock worth $147,000 after purchasing an additional 3,414 shares during the period. Rhumbline Advisers lifted its holdings in shares of CPI Card Group by 32.8% in the 2nd 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. Allspring Global Investments Holdings LLC bought a new position in CPI Card Group during the 3rd quarter worth $205,000. Finally, Barclays PLC increased its position in 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. Institutional investors and hedge funds own 22.08% of the company's stock.

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.