CPI Card Group Inc. (NASDAQ:PMTS) Sees Large Increase in Short Interest

CPI Card Group Inc. (NASDAQ:PMTS - Get Free Report) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 100,900 shares, a growth of 31.6% from the September 15th total of 76,700 shares. Based on an average daily trading volume, of 34,400 shares, the days-to-cover ratio is currently 2.9 days. Currently, 1.8% of the company's shares are sold short.

Insider Buying and Selling at CPI Card Group

In other CPI Card Group news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the business's stock in a transaction on 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 sale, the insider now directly owns 4,813,977 shares of the company's stock, valued at $101,093,517. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now directly owns 4,813,977 shares in the company, valued at approximately $101,093,517. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Marc Sheinbaum purchased 2,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of $25.26 per share, for a total transaction of $50,520.00. Following the completion of the acquisition, the director now owns 10,390 shares in the company, valued at $262,451.40. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On CPI Card Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vector Capital Management L.P. raised its stake in shares of CPI Card Group by 77.7% in the second quarter. Vector Capital Management L.P. now owns 248,737 shares of the company's stock valued at $6,778,000 after purchasing an additional 108,756 shares in the last quarter. Marshall Wace LLP raised its stake in shares of CPI Card Group by 139.0% in the 2nd quarter. Marshall Wace LLP now owns 39,273 shares of the company's stock valued at $1,070,000 after buying an additional 22,841 shares in the last quarter. Ritholtz Wealth Management bought a new position in shares of CPI Card Group during the 3rd quarter worth about $449,000. Vanguard Group Inc. boosted its position in shares of CPI Card Group by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 340,945 shares of the company's stock valued at $6,089,000 after acquiring an additional 10,265 shares in the last quarter. Finally, Privium Fund Management UK Ltd acquired a new stake in shares of CPI Card Group during the 2nd quarter valued at about $257,000. Institutional investors own 22.08% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on PMTS shares. Lake Street Capital increased their price target on shares of CPI Card Group from $22.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, August 6th. StockNews.com upgraded CPI Card Group from a "buy" rating to a "strong-buy" rating in a report on Wednesday, June 19th.

CPI Card Group Stock Performance

Shares of CPI Card Group stock traded up $0.03 on Tuesday, reaching $23.81. The stock had a trading volume of 16,056 shares, compared to its average volume of 28,410. CPI Card Group has a fifty-two week low of $12.65 and a fifty-two week high of $31.00. The business's 50-day moving average price is $26.20 and its two-hundred day moving average price is $25.01. The stock has a market cap of $264.81 million, a P/E ratio of 15.17 and a beta of 1.15.

CPI Card Group (NASDAQ:PMTS - Get Free Report) last released its earnings results on Monday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.05). CPI Card Group had a net margin of 4.11% and a negative return on equity of 35.79%. The business had revenue of $118.82 million during the quarter, compared to analyst estimates of $111.85 million. During the same period last year, the business earned $0.55 EPS. As a group, equities analysts forecast that CPI Card Group will post 2.12 earnings per share for the current fiscal year.

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.