CPI Card Group (NASDAQ:PMTS) Now Covered by Analysts at DA Davidson

Stock analysts at DA Davidson initiated coverage on shares of CPI Card Group (NASDAQ:PMTS - Get Free Report) in a report issued on Friday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $36.00 price target on the stock. DA Davidson's price target points to a potential upside of 22.16% from the stock's current price.

Separately, Lake Street Capital raised their target price on CPI Card Group from $22.00 to $33.00 and gave the company a "buy" rating in a report 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 stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $36.33.

CPI Card Group Stock Performance

NASDAQ:PMTS traded up $0.90 during mid-day trading on Friday, reaching $29.47. The stock had a trading volume of 109,107 shares, compared to its average volume of 29,220. CPI Card Group has a twelve month low of $15.00 and a twelve month high of $31.00. The business has a 50 day simple moving average of $25.19 and a 200 day simple moving average of $26.24. The firm has a market capitalization of $328.89 million, a price-to-earnings ratio of 22.12 and a beta of 1.21.

Insider Activity at CPI Card Group

In other CPI Card Group news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of CPI Card Group 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 transaction, the insider now owns 4,813,977 shares in the company, valued at approximately $101,093,517. The trade was a 22.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sonya Vollmer sold 3,660 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.10, for a total transaction of $91,866.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CPI Card Group

Hedge funds have recently bought and sold shares of the stock. Vector Capital Management L.P. boosted its stake in shares of CPI Card Group by 77.7% during the second quarter. Vector Capital Management L.P. now owns 248,737 shares of the company's stock valued at $6,778,000 after acquiring an additional 108,756 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of CPI Card Group by 139.0% during the second quarter. Marshall Wace LLP now owns 39,273 shares of the company's stock worth $1,070,000 after buying an additional 22,841 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of CPI Card Group during the third quarter worth about $449,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of CPI Card Group by 109.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 26,655 shares of the company's stock valued at $742,000 after buying an additional 13,901 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of CPI Card Group during the third quarter valued at approximately $305,000. Hedge funds and other institutional investors 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.