Kerrisdale Advisers LLC Lowers Position in CPI Card Group Inc. (NASDAQ:PMTS)

Kerrisdale Advisers LLC cut its holdings in shares of CPI Card Group Inc. (NASDAQ:PMTS - Free Report) by 26.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,408 shares of the company's stock after selling 31,415 shares during the quarter. CPI Card Group accounts for 0.9% of Kerrisdale Advisers LLC's holdings, making the stock its 28th largest position. Kerrisdale Advisers LLC owned 0.77% of CPI Card Group worth $2,583,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Russell Investments Group Ltd. increased its stake in shares of CPI Card Group by 1,635.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,649 shares of the company's stock valued at $49,000 after purchasing an additional 1,554 shares during the last quarter. Wells Fargo & Company MN grew its position in CPI Card Group by 44.9% during the 4th 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 last quarter. Tower Research Capital LLC TRC grew its position in CPI Card Group by 355.6% during the 4th 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 last quarter. IFP Advisors Inc grew its position in CPI Card Group by 96.6% during the 4th quarter. IFP Advisors Inc now owns 3,048 shares of the company's stock worth $91,000 after acquiring an additional 1,498 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in CPI Card Group during the 4th quarter worth $104,000. 22.08% of the stock is owned by institutional investors.

CPI Card Group Price Performance

Shares of CPI Card Group stock traded down $0.20 on Tuesday, hitting $26.29. 8,069 shares of the company's stock traded hands, compared to its average volume of 33,926. CPI Card Group Inc. has a one year low of $17.11 and a one year high of $35.19. The company has a fifty day moving average of $27.92 and a two-hundred day moving average of $28.64. The company has a market capitalization of $296.10 million, a price-to-earnings ratio of 20.06 and a beta of 1.44.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PMTS shares. Roth Mkm restated a "buy" rating and set a $40.00 price objective on shares of CPI Card Group in a research report on Wednesday, March 5th. B. Riley boosted their price objective on CPI Card Group from $33.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Finally, DA Davidson upped their price target on CPI Card Group from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, CPI Card Group presently has an average rating of "Buy" and a consensus target price of $37.25.

CPI Card Group 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.