Q3 Earnings Forecast for CPI Card Group Issued By B. Riley

CPI Card Group Inc. (NASDAQ:PMTS - Free Report) - Equities research analysts at B. Riley cut their Q3 2024 earnings per share estimates for shares of CPI Card Group in a report released on Monday, October 28th. B. Riley analyst H. Goetsch now anticipates that the company will earn $0.34 per share for the quarter, down from their prior forecast of $0.48. The consensus estimate for CPI Card Group's current full-year earnings is $2.12 per share. B. Riley also issued estimates for CPI Card Group's FY2024 earnings at $1.69 EPS and FY2025 earnings at $2.32 EPS.

CPI Card Group (NASDAQ:PMTS - Get Free Report) last released its quarterly earnings results on Monday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.05). CPI Card Group had a negative return on equity of 35.79% and a net margin of 4.11%. The business had revenue of $118.82 million during the quarter, compared to the consensus estimate of $111.85 million. During the same period in the previous year, the company posted $0.55 EPS.

Separately, Lake Street Capital increased their price target on CPI Card Group from $22.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, August 6th.

CPI Card Group Stock Performance

Shares of NASDAQ:PMTS traded up $0.20 on Wednesday, hitting $22.84. The company's stock had a trading volume of 7,666 shares, compared to its average volume of 28,050. CPI Card Group has a 12 month low of $12.65 and a 12 month high of $31.00. The company has a market capitalization of $254.89 million, a price-to-earnings ratio of 14.80 and a beta of 1.15. The stock's 50-day moving average is $25.60 and its two-hundred day moving average is $25.36.

Insider Activity at CPI Card Group

In related news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The stock was 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 of the company's stock, valued at $101,093,517. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Marc Sheinbaum bought 2,000 shares of CPI Card Group stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $25.26 per share, with a total value of $50,520.00. Following the completion of the acquisition, the director now directly owns 10,390 shares in the company, valued at approximately $262,451.40. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the company's stock in a transaction on 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On CPI Card Group

Hedge funds have recently modified their holdings of the stock. Rhumbline Advisers lifted its holdings in shares of CPI Card Group by 32.8% during the second quarter. Rhumbline Advisers now owns 6,302 shares of the company's stock valued at $172,000 after purchasing an additional 1,555 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in CPI Card Group in the 3rd quarter worth about $205,000. Privium Fund Management UK Ltd purchased a new stake in CPI Card Group in the 2nd quarter worth about $257,000. Ritholtz Wealth Management purchased a new stake in CPI Card Group in the 3rd quarter worth about $449,000. Finally, Denali Advisors LLC lifted its stake in CPI Card Group by 19.0% in the 1st quarter. Denali Advisors LLC now owns 16,300 shares of the company's stock worth $291,000 after acquiring an additional 2,600 shares in the last quarter. 22.08% of the stock is owned by hedge funds and other institutional investors.

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.