Kornitzer Capital Management Inc. KS Purchases New Holdings in CPI Card Group Inc. (NASDAQ:PMTS)

Kornitzer Capital Management Inc. KS acquired a new position in shares of CPI Card Group Inc. (NASDAQ:PMTS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 35,000 shares of the company's stock, valued at approximately $1,046,000. Kornitzer Capital Management Inc. KS owned approximately 0.31% of CPI Card Group as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its holdings in shares of CPI Card Group by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 2,939 shares of the company's stock valued at $82,000 after acquiring an additional 1,656 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of CPI Card Group during the 4th quarter valued at $104,000. BNP Paribas Financial Markets grew its holdings 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 valued at $147,000 after acquiring an additional 3,414 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of CPI Card Group during the 3rd quarter valued at $205,000. Finally, Barclays PLC increased its position in CPI Card Group by 251.2% during 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 last quarter. 22.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on PMTS. DA Davidson began coverage on shares of CPI Card Group in a research report on Friday, November 22nd. They set a "buy" rating and a $36.00 target price on the stock. Lake Street Capital increased their target price on shares of CPI Card Group from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $37.67.

CPI Card Group Stock Down 2.9 %

PMTS stock traded down $0.92 during mid-day trading on Friday, reaching $30.42. 29,617 shares of the stock traded hands, compared to its average volume of 26,747. CPI Card Group Inc. has a 52 week low of $15.00 and a 52 week high of $35.19. The business has a 50-day moving average of $30.42 and a two-hundred day moving average of $28.10. The firm has a market capitalization of $339.46 million, a PE ratio of 23.22 and a beta of 1.43.

Insider Buying and Selling at CPI Card Group

In other CPI Card Group news, Director H Sanford Riley purchased 2,000 shares of the business's stock in a transaction on Monday, December 2nd. The stock was purchased at an average price of $32.51 per share, for a total transaction of $65,020.00. Following the completion of the purchase, the director now directly owns 9,500 shares in the company, valued at approximately $308,845. This trade represents a 26.67 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.20% of the company's stock.

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.